Broadcom Ltd (AVGO) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank reduced its position in shares of Broadcom Ltd (NASDAQ:AVGO) by 6.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 86,990 shares of the semiconductor manufacturer’s stock after selling 6,213 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Broadcom were worth $19,047,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of AVGO. Wetherby Asset Management Inc. raised its stake in Broadcom by 3.4% in the fourth quarter. Wetherby Asset Management Inc. now owns 3,482 shares of the semiconductor manufacturer’s stock valued at $616,000 after buying an additional 113 shares during the period. Clark Capital Management Group Inc. raised its stake in Broadcom by 19.6% in the fourth quarter. Clark Capital Management Group Inc. now owns 38,974 shares of the semiconductor manufacturer’s stock valued at $6,890,000 after buying an additional 6,400 shares during the period. Comerica Bank raised its stake in Broadcom by 1.8% in the fourth quarter. Comerica Bank now owns 105,220 shares of the semiconductor manufacturer’s stock valued at $18,987,000 after buying an additional 1,853 shares during the period. State Board of Administration of Florida Retirement System raised its stake in Broadcom by 1.4% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 549,389 shares of the semiconductor manufacturer’s stock valued at $97,115,000 after buying an additional 7,757 shares during the period. Finally, Commerzbank Aktiengesellschaft FI raised its stake in Broadcom by 96.8% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 73,602 shares of the semiconductor manufacturer’s stock valued at $13,011,000 after buying an additional 36,201 shares during the period. Institutional investors and hedge funds own 91.85% of the company’s stock.

Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

Broadcom Ltd (NASDAQ:AVGO) traded down 0.380% on Tuesday, hitting $237.475. 249,585 shares of the stock were exchanged. The company has a 50 day moving average of $223.65 and a 200 day moving average of $201.35. Broadcom Ltd has a one year low of $142.27 and a one year high of $241.29. The stock’s market capitalization is $95.31 billion.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Wednesday, March 1st. The semiconductor manufacturer reported $3.63 EPS for the quarter, topping the Zacks’ consensus estimate of $3.02 by $0.61. The business had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.08 billion. Broadcom had a negative net margin of 13.13% and a positive return on equity of 22.77%. The firm’s revenue for the quarter was up 132.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.41 earnings per share. On average, equities research analysts forecast that Broadcom Ltd will post $14.89 earnings per share for the current fiscal year.

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AVGO has been the topic of several research reports. Cowen and Company increased their price objective on shares of Broadcom to $240.00 in a research note on Thursday, March 2nd. Wells Fargo & Co increased their price objective on shares of Broadcom to $230.00 in a research note on Thursday, March 2nd. TheStreet upgraded shares of Broadcom from a “c+” rating to a “b-” rating in a research note on Wednesday, March 1st. MKM Partners reiterated a “buy” rating and set a $240.00 price objective on shares of Broadcom in a research note on Wednesday, February 22nd. Finally, Rosenblatt Securities initiated coverage on shares of Broadcom in a research note on Wednesday, February 22nd. They set a “buy” rating and a $250.00 price objective on the stock. Three research analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has assigned a strong buy rating to the stock. Broadcom currently has an average rating of “Buy” and an average target price of $231.53.

In other news, SVP Charlie B. Kawwas sold 4,398 shares of the business’s stock in a transaction on Wednesday, April 5th. The shares were sold at an average price of $219.10, for a total value of $963,601.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Kirsten M. Spears sold 520 shares of the company’s stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $220.10, for a total transaction of $114,452.00. The disclosure for this sale can be found here. In the last three months, insiders sold 283,946 shares of company stock worth $63,066,891. 6.20% of the stock is currently owned by insiders.

Broadcom Company Profile

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.

12 Month Chart for NASDAQ:AVGO

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