Broadcom Limited (AVGO) Stake Increased by Allianz Asset Management GmbH

Broadcom logo Allianz Asset Management GmbH grew its stake in shares of Broadcom Limited (NASDAQ:AVGO) by 12.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,736,846 shares of the semiconductor manufacturer’s stock after …

Broadcom logoAllianz Asset Management GmbH grew its stake in shares of Broadcom Limited (NASDAQ:AVGO) by 12.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,736,846 shares of the semiconductor manufacturer’s stock after purchasing an additional 297,100 shares during the quarter. Broadcom makes up approximately 0.6% of Allianz Asset Management GmbH’s portfolio, making the stock its 8th biggest position. Allianz Asset Management GmbH owned 0.67% of Broadcom worth $663,795,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Broadcom by 3.0% during the second quarter. Vanguard Group Inc. now owns 27,561,770 shares of the semiconductor manufacturer’s stock valued at $6,423,271,000 after acquiring an additional 793,335 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Broadcom by 3.5% during the second quarter. BlackRock Inc. now owns 23,930,917 shares of the semiconductor manufacturer’s stock valued at $5,577,099,000 after acquiring an additional 798,982 shares in the last quarter. State Street Corp raised its holdings in shares of Broadcom by 1.6% during the second quarter. State Street Corp now owns 16,060,697 shares of the semiconductor manufacturer’s stock valued at $3,742,946,000 after acquiring an additional 255,044 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Broadcom by 18.2% during the second quarter. Ameriprise Financial Inc. now owns 8,704,177 shares of the semiconductor manufacturer’s stock valued at $2,028,442,000 after acquiring an additional 1,338,695 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Broadcom by 26.7% during the second quarter. Jennison Associates LLC now owns 5,345,868 shares of the semiconductor manufacturer’s stock valued at $1,245,855,000 after acquiring an additional 1,128,052 shares in the last quarter. 88.99% of the stock is owned by hedge funds and other institutional investors.

Broadcom Limited (NASDAQ:AVGO) opened at $263.61 on Tuesday. Broadcom Limited has a twelve month low of $162.40 and a twelve month high of $285.68. The company has a current ratio of 4.48, a quick ratio of 3.84 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $107,550.00, a price-to-earnings ratio of 20.53, a PEG ratio of 1.30 and a beta of 1.05.

In other news, CFO Thomas H. Krause sold 2,595 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $267.34, for a total transaction of $693,747.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Charlie B. Kawwas sold 1,788 shares of the firm’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $247.28, for a total value of $442,136.64. The disclosure for this sale can be found here. Insiders have sold 104,383 shares of company stock valued at $25,949,184 over the last 90 days. Corporate insiders own 3.60% of the company’s stock.

AVGO has been the subject of a number of recent analyst reports. B. Riley restated an “avgo (” rating and set a $305.00 target price on shares of Broadcom in a report on Monday, August 21st. Rosenblatt Securities reiterated a “buy” rating and issued a $270.00 price objective on shares of Broadcom in a report on Wednesday, August 23rd. Loop Capital reiterated a “buy” rating and issued a $302.00 price objective on shares of Broadcom in a report on Friday, August 25th. Vetr upgraded Broadcom from a “hold” rating to a “buy” rating and set a $258.25 price objective for the company in a report on Monday, August 21st. Finally, Cowen reiterated a “buy” rating and issued a $260.00 price objective on shares of Broadcom in a report on Friday, August 11th. Five research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $290.42.

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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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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Canadian Imperial Bank of Commerce (CM) Shares Bought by Allianz Asset Management GmbH

Quantum Capital Management LLC NJ acquired a new stake in shares of Canadian Imperial Bank of Commerce during the 3rd quarter valued at $134,000. Nationwide Fund Advisors acquired a new stake in shares of Canadian Imperial Bank of Commerce during the 2nd quarter valued at $138,000.

Canadian Imperial Bank of Commerce logoAllianz Asset Management GmbH raised its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 6.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,655,059 shares of the bank’s stock after purchasing an additional 101,426 shares during the quarter. Allianz Asset Management GmbH owned 0.38% of Canadian Imperial Bank of Commerce worth $144,474,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Canadian Imperial Bank of Commerce by 55.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,474 shares of the bank’s stock valued at $120,000 after acquiring an additional 526 shares in the last quarter. INR Advisory Services LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce during the 2nd quarter valued at $125,000. Quantum Capital Management LLC NJ acquired a new stake in shares of Canadian Imperial Bank of Commerce during the 3rd quarter valued at $134,000. Nationwide Fund Advisors acquired a new stake in shares of Canadian Imperial Bank of Commerce during the 2nd quarter valued at $138,000. Finally, D.A. Davidson & CO. acquired a new stake in shares of Canadian Imperial Bank of Commerce during the 2nd quarter valued at $162,000. 44.76% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts recently weighed in on CM shares. TD Securities raised Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $120.00 price objective on the stock in a report on Wednesday, September 6th. Canaccord Genuity set a $117.00 price objective on Canadian Imperial Bank of Commerce and gave the company a “buy” rating in a report on Thursday, August 24th. Scotiabank reissued a “hold” rating and set a $128.00 price objective on shares of Canadian Imperial Bank of Commerce in a report on Wednesday, November 22nd. Zacks Investment Research raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Monday. Finally, Citigroup downgraded Canadian Imperial Bank of Commerce from a “buy” rating to a “neutral” rating and set a $120.00 price objective on the stock. in a report on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $114.00.

Canadian Imperial Bank of Commerce (NYSE CM) opened at $94.75 on Tuesday. The stock has a market capitalization of $41,942.80, a price-to-earnings ratio of 11.22, a P/E/G ratio of 3.82 and a beta of 1.12. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.11. Canadian Imperial Bank of Commerce has a 12-month low of $77.20 and a 12-month high of $96.64.

The business also recently announced a quarterly dividend, which will be paid on Monday, January 29th. Investors of record on Thursday, December 28th will be given a dividend of $1.011 per share. This represents a $4.04 annualized dividend and a yield of 4.27%. The ex-dividend date of this dividend is Wednesday, December 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 47.04%.

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Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce (CIBC) is a global financial institution. The Company provides a range of financial products and services to approximately 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. The Company operates through three segments: Retail and Business Banking, Wealth Management and Capital Markets.

Institutional Ownership by Quarter for Canadian Imperial Bank of Commerce (NYSE:CM)

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