Corient Capital Partners LLC lowered its holdings in Broadcom Inc (NASDAQ:AVGO) by 1.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,164 shares of the semiconductor manufacturer’s stock after selling 110 shares during the period. Corient Capital Partners LLC’s holdings in Broadcom were worth $1,822,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of AVGO. Ruggie Capital Group bought a new stake in shares of Broadcom in the fourth quarter valued at $25,000. Accurate Investment Solutions Inc. bought a new stake in shares of Broadcom in the fourth quarter valued at $25,000. Advisors Preferred LLC bought a new stake in shares of Broadcom in the fourth quarter valued at $32,000. Essex Savings Bank bought a new stake in shares of Broadcom in the fourth quarter valued at $48,000. Finally, Cohen & Steers Inc. bought a new stake in shares of Broadcom in the third quarter valued at $52,000. 89.34% of the stock is currently owned by institutional investors and hedge funds.
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In other news, Director Donald Macleod sold 5,223 shares of the company’s stock in a transaction dated Monday, January 7th. The stock was sold at an average price of $233.65, for a total value of $1,220,353.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Charlie B. Kawwas sold 10,000 shares of the company’s stock in a transaction dated Thursday, December 13th. The stock was sold at an average price of $259.19, for a total value of $2,591,900.00. The disclosure for this sale can be found here. Insiders sold a total of 79,723 shares of company stock worth $20,347,374 over the last 90 days. Corporate insiders own 3.30% of the company’s stock.
Shares of NASDAQ AVGO opened at $281.93 on Monday. The stock has a market capitalization of $114.65 billion, a price-to-earnings ratio of 14.97, a price-to-earnings-growth ratio of 1.27 and a beta of 0.72. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.41 and a current ratio of 3.90. Broadcom Inc has a twelve month low of $197.46 and a twelve month high of $284.09.
Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, December 6th. The semiconductor manufacturer reported $5.85 earnings per share for the quarter, topping analysts’ consensus estimates of $5.58 by $0.27. The business had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.40 billion. Broadcom had a return on equity of 29.03% and a net margin of 58.80%. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the company earned $4.59 EPS. Research analysts forecast that Broadcom Inc will post 18.59 EPS for the current fiscal year.
AVGO has been the topic of several research reports. Morgan Stanley lowered their target price on Broadcom from $265.00 to $261.00 and set an “equal weight” rating on the stock in a research note on Monday, January 7th. BidaskClub lowered Broadcom from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 5th. Wells Fargo & Co restated a “market perform” rating and issued a $265.00 target price on shares of Broadcom in a research note on Wednesday, November 28th. Deutsche Bank restated a “buy” rating and issued a $310.00 target price on shares of Broadcom in a research note on Thursday, November 8th. Finally, ValuEngine upgraded Broadcom from a “hold” rating to a “buy” rating in a research note on Monday, December 17th. Nine investment analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $289.42.
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Broadcom Inc designs, develops, and supplies a range of semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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