Longer Investments Inc. boosted its stake in shares of Broadcom Ltd (NASDAQ:AVGO) by 38.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,341 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,608 shares during the period. Broadcom accounts for about 2.0% of Longer Investments Inc.’s portfolio, making the stock its 23rd biggest position. Longer Investments Inc.’s holdings in Broadcom were worth $2,400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently bought and sold shares of the company. AllSquare Wealth Management LLC bought a new position in Broadcom during the 3rd quarter worth $113,000. Mountain Capital Investment Advisors Inc bought a new position in Broadcom during the 2nd quarter worth $113,000. Tower Research Capital LLC TRC increased its stake in Broadcom by 473.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 573 shares of the semiconductor manufacturer’s stock worth $134,000 after acquiring an additional 473 shares during the period. Carroll Financial Associates Inc. increased its stake in Broadcom by 59.0% during the 3rd quarter. Carroll Financial Associates Inc. now owns 593 shares of the semiconductor manufacturer’s stock worth $144,000 after acquiring an additional 220 shares during the period. Finally, FNY Partners Fund LP bought a new position in Broadcom during the 4th quarter worth $154,000. Hedge funds and other institutional investors own 88.53% of the company’s stock.
A number of equities research analysts have weighed in on the company. Vetr raised Broadcom from a “buy” rating to a “strong-buy” rating and set a $263.97 target price on the stock in a report on Tuesday, September 26th. Morgan Stanley reaffirmed an “overweight” rating and issued a $290.00 target price on shares of Broadcom in a report on Saturday, September 30th. Bank of America reaffirmed a “buy” rating and issued a $300.00 target price on shares of Broadcom in a report on Friday, October 6th. Mizuho reaffirmed a “buy” rating and issued a $290.00 target price on shares of Broadcom in a report on Sunday, October 8th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $285.00 target price on shares of Broadcom in a report on Tuesday, October 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $302.66.
Broadcom Ltd (NASDAQ AVGO) traded up $0.79 during midday trading on Wednesday, hitting $262.90. The company had a trading volume of 3,539,800 shares, compared to its average volume of 2,813,320. The company has a debt-to-equity ratio of 0.75, a quick ratio of 5.68 and a current ratio of 6.26. Broadcom Ltd has a 12 month low of $192.28 and a 12 month high of $285.68. The firm has a market cap of $104,790.00, a P/E ratio of 66.90, a price-to-earnings-growth ratio of 1.12 and a beta of 1.04.
Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $4.84 billion. During the same quarter last year, the business posted $3.47 EPS. Broadcom’s revenue for the quarter was up 17.1% on a year-over-year basis. equities research analysts anticipate that Broadcom Ltd will post 16.99 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Tuesday, December 19th were given a dividend of $1.75 per share. This is a positive change from Broadcom’s previous quarterly dividend of $1.02. This represents a $7.00 annualized dividend and a yield of 2.66%. The ex-dividend date was Monday, December 18th. Broadcom’s dividend payout ratio (DPR) is currently 178.12%.
In related news, SVP Bryan Ingram sold 794 shares of the firm’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $258.60, for a total transaction of $205,328.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $260.03, for a total value of $5,200,600.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 86,674 shares of company stock valued at $22,659,390. 3.60% of the stock is owned by corporate 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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