Premia Global Advisors LLC acquired a new stake in shares of Broadcom Ltd (NASDAQ:AVGO) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 771 shares of the semiconductor manufacturer’s stock, valued at approximately $198,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. SeaCrest Wealth Management LLC acquired a new position in shares of Broadcom during the fourth quarter valued at approximately $124,000. FNY Partners Fund LP acquired a new position in Broadcom in the fourth quarter worth approximately $154,000. Independence Bank of Kentucky acquired a new position in Broadcom in the fourth quarter worth approximately $188,000. Neville Rodie & Shaw Inc. acquired a new position in Broadcom in the fourth quarter worth approximately $206,000. Finally, Brookmont Capital Management acquired a new position in Broadcom in the third quarter worth approximately $207,000. Institutional investors and hedge funds own 89.52% of the company’s stock.
AVGO has been the topic of several recent research reports. Nomura restated a “buy” rating on shares of Broadcom in a research report on Tuesday, November 14th. Royal Bank of Canada lifted their price target on shares of Broadcom from $300.00 to $315.00 and gave the stock a “top pick” rating in a research report on Monday, November 20th. BMO Capital Markets initiated coverage on shares of Broadcom in a research report on Monday, November 20th. They issued an “outperform” rating and a $330.00 price target on the stock. B. Riley restated a “buy” rating and issued a $315.00 price target on shares of Broadcom in a research report on Monday, November 20th. Finally, Vetr lowered shares of Broadcom from a “buy” rating to a “hold” rating and set a $290.34 price target on the stock. in a research report on Monday, November 27th. Two investment analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has assigned a strong buy rating to the company. Broadcom has a consensus rating of “Buy” and a consensus price target of $306.75.
In other Broadcom news, CFO Thomas H. Krause sold 656 shares of Broadcom stock in a transaction on Monday, December 18th. The shares were sold at an average price of $264.38, for a total transaction of $173,433.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Hock E. Tan sold 20,789 shares of Broadcom stock in a transaction on Monday, December 18th. The shares were sold at an average price of $259.85, for a total transaction of $5,402,021.65. The disclosure for this sale can be found here. Insiders have sold a total of 84,481 shares of company stock valued at $21,805,795 in the last three months. Company insiders own 3.32% of the company’s stock.
Shares of Broadcom Ltd (NASDAQ:AVGO) opened at $261.22 on Wednesday. The stock has a market cap of $107,962.05, a price-to-earnings ratio of 61.32, a price-to-earnings-growth ratio of 1.10 and a beta of 0.88. Broadcom Ltd has a 52 week low of $208.44 and a 52 week high of $285.68. The company has a debt-to-equity ratio of 0.75, a quick ratio of 5.68 and a current ratio of 6.26.
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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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