Advisory Services Network LLC Has $3.07 Million Stake in Broadcom Ltd (AVGO)
Advisory Services Network LLC grew its stake in Broadcom Ltd (NASDAQ:AVGO) by 23.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,964 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,239 shares during the quarter. Advisory Services Network LLC’s holdings in Broadcom were worth $3,073,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. AllSquare Wealth Management LLC purchased a new position in shares of Broadcom in the 3rd quarter valued at $113,000. SeaCrest Wealth Management LLC acquired a new stake in shares of Broadcom in the 4th quarter worth $124,000. Carroll Financial Associates Inc. boosted its position in shares of Broadcom by 59.0% in the 3rd quarter. Carroll Financial Associates Inc. now owns 593 shares of the semiconductor manufacturer’s stock worth $144,000 after purchasing an additional 220 shares in the last quarter. FNY Partners Fund LP acquired a new stake in shares of Broadcom in the 4th quarter worth $154,000. Finally, Cable Hill Partners LLC boosted its position in shares of Broadcom by 824.6% in the 3rd quarter. Cable Hill Partners LLC now owns 638 shares of the semiconductor manufacturer’s stock worth $155,000 after purchasing an additional 569 shares in the last quarter. Institutional investors and hedge funds own 88.46% of the company’s stock.
In other Broadcom news, SVP Bryan Ingram sold 794 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $258.60, for a total transaction of $205,328.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Hock E. Tan sold 20,789 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $259.85, for a total value of $5,402,021.65. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,674 shares of company stock valued at $17,458,790. 3.60% of the stock is owned by company insiders.
Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.52 by $0.07. Broadcom had a return on equity of 28.64% and a net margin of 10.18%. The company had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.84 billion. During the same period in the previous year, the business earned $3.47 EPS. Broadcom’s quarterly revenue was up 17.1% on a year-over-year basis. research analysts forecast that Broadcom Ltd will post 17.41 earnings per share for the current year.
A number of analysts have recently weighed in on the company. Zacks Investment Research raised Broadcom from a “hold” rating to a “buy” rating and set a $264.00 price objective for the company in a research report on Tuesday. BidaskClub raised Broadcom from a “strong sell” rating to a “sell” rating in a research report on Wednesday, February 7th. B. Riley reissued a “buy” rating and issued a $335.00 price objective (up previously from $330.00) on shares of Broadcom in a research report on Thursday, February 1st. Canaccord Genuity raised their price objective on Broadcom from $100.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Finally, Vetr raised Broadcom from a “hold” rating to a “buy” rating and set a $269.37 price objective for the company in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $301.58.
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Broadcom Limited is a designer, developer and global supplier of a range of semiconductor devices with a focus on digital and mixed signal complementary metal oxide semiconductor (CMOS)-based devices and analog III-V based products. The Company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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