Capstone Asset Management Co. reduced its position in Broadcom Ltd (NASDAQ:AVGO) by 0.9% during the first quarter, Holdings Channel reports. The institutional investor owned 36,943 shares of the semiconductor manufacturer’s stock after selling 332 shares during the period. Capstone Asset Management Co.’s holdings in Broadcom were worth $8,089,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of the company. Cim Investment Mangement Inc. boosted its stake in shares of Broadcom by 0.7% in the fourth quarter. Cim Investment Mangement Inc. now owns 7,350 shares of the semiconductor manufacturer’s stock worth $1,299,000 after buying an additional 54 shares in the last quarter. Confluence Wealth Management LLC boosted its stake in shares of Broadcom by 1.1% in the fourth quarter. Confluence Wealth Management LLC now owns 5,647 shares of the semiconductor manufacturer’s stock worth $998,000 after buying an additional 59 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Broadcom by 5.8% in the first quarter. Quadrant Capital Group LLC now owns 1,344 shares of the semiconductor manufacturer’s stock worth $283,000 after buying an additional 74 shares in the last quarter. Pinnacle Financial Partners Inc. boosted its stake in shares of Broadcom by 3.4% in the fourth quarter. Pinnacle Financial Partners Inc. now owns 2,921 shares of the semiconductor manufacturer’s stock worth $516,000 after buying an additional 95 shares in the last quarter. Finally, Wetherby Asset Management Inc. boosted its stake in shares of Broadcom by 3.4% in the fourth quarter. Wetherby Asset Management Inc. now owns 3,482 shares of the semiconductor manufacturer’s stock worth $616,000 after buying an additional 113 shares in the last quarter. 91.85% of the stock is currently owned by hedge funds and other institutional investors.
Broadcom Ltd (NASDAQ:AVGO) traded up 1.75% on Thursday, hitting $212.86. 2,519,783 shares of the company’s stock traded hands. Broadcom Ltd has a one year low of $139.18 and a one year high of $227.75. The stock has a 50-day moving average of $218.38 and a 200-day moving average of $190.36. The stock’s market cap is $85.43 billion. Broadcom also saw some unusual options trading activity on Wednesday. Traders purchased 10,965 call options on the company. This represents an increase of 184% compared to the typical volume of 3,860 call options.
Broadcom (NASDAQ:AVGO) last posted its earnings results on Wednesday, March 1st. The semiconductor manufacturer reported $3.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.02 by $0.61. The company earned $4.15 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 132.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.41 earnings per share. On average, equities analysts forecast that Broadcom Ltd will post $14.85 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Monday, March 20th were given a dividend of $1.02 per share. The ex-dividend date was Thursday, March 16th. This represents a $4.08 dividend on an annualized basis and a yield of 1.95%. Broadcom’s dividend payout ratio is presently -100.49%.
A number of analysts have recently commented on the company. B. Riley reissued a “buy” rating and issued a $260.00 price target on shares of Broadcom in a research report on Thursday, March 2nd. Jefferies Group LLC reissued a “buy” rating and issued a $260.00 price target on shares of Broadcom in a research report on Friday, April 7th. Oppenheimer Holdings Inc. reissued an “outperform” rating on shares of Broadcom in a research report on Tuesday, December 20th. Royal Bank of Canada reissued a “top pick” rating and issued a $200.00 price target on shares of Broadcom in a research report on Wednesday, December 21st. Finally, Deutsche Bank AG boosted their price target on Broadcom from $235.00 to $255.00 and gave the stock a “buy” rating in a research report on Thursday, March 2nd. Two equities research analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $228.54.
In related news, VP Patricia H. Mccall sold 5,000 shares of the business’s stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $226.41, for a total transaction of $1,132,050.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $963,601.80. The disclosure for this sale can be found here. Insiders have sold 2,294,108 shares of company stock valued at $477,197,133 over the last 90 days. 6.20% of the stock is currently owned by insiders.
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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