Traders Sell Shares of Broadcom Limited (AVGO) on Strength (AVGO)
Traders sold shares of Broadcom Limited (NASDAQ:AVGO) on strength during trading on Wednesday. $170.76 million flowed into the stock on the tick-up and $210.75 million flowed out of the stock on the tick-down, for a money net flow of $39.99 million out of the stock. Of all equities tracked, Broadcom Limited had the 12th highest net out-flow for the day. Broadcom Limited traded up $2.34 for the day and closed at $265.60
AVGO has been the subject of a number of recent research reports. B. Riley reissued an “avgo (” rating and issued a $305.00 target price on shares of Broadcom Limited in a report on Monday, August 21st. Rosenblatt Securities reissued a “buy” rating and issued a $270.00 target price on shares of Broadcom Limited in a report on Wednesday, August 23rd. Vetr raised Broadcom Limited from a “hold” rating to a “buy” rating and set a $258.25 target price for the company in a report on Monday, August 21st. Cowen and Company reissued a “buy” rating and issued a $260.00 target price on shares of Broadcom Limited in a report on Friday, August 11th. Finally, BidaskClub cut Broadcom Limited from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, thirty-two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Broadcom Limited has an average rating of “Buy” and a consensus price target of $284.31.
The stock has a market cap of $108,690.00, a P/E ratio of 20.03, a PEG ratio of 1.31 and a beta of 1.05. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.84 and a current ratio of 4.48.
Broadcom Limited (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.03 by $0.07. Broadcom Limited had a return on equity of 26.82% and a net margin of 3.12%. The firm had revenue of $4.47 billion for the quarter, compared to the consensus estimate of $4.46 billion. During the same quarter last year, the business posted $2.89 EPS. The company’s revenue for the quarter was up 17.5% on a year-over-year basis. equities analysts forecast that Broadcom Limited will post 13.91 EPS for the current year.
In related news, SVP Bryan Ingram sold 30,000 shares of Broadcom Limited stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $244.01, for a total value of $7,320,300.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Hock E. Tan sold 20,000 shares of Broadcom Limited stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $246.48, for a total value of $4,929,600.00. The disclosure for this sale can be found here. Insiders sold a total of 81,788 shares of company stock worth $20,054,837 in the last three months. Company insiders own 3.60% of the company’s stock.
Several large investors have recently added to or reduced their stakes in AVGO. Mountain Capital Investment Advisors Inc acquired a new stake in shares of Broadcom Limited in the second quarter valued at about $113,000. AllSquare Wealth Management LLC acquired a new stake in shares of Broadcom Limited in the third quarter valued at about $113,000. Shine Investment Advisory Services Inc. acquired a new stake in shares of Broadcom Limited in the second quarter valued at about $116,000. D. Scott Neal Inc. acquired a new stake in shares of Broadcom Limited in the second quarter valued at about $127,000. Finally, Tower Research Capital LLC TRC increased its position in shares of Broadcom Limited by 473.0% in the second quarter. Tower Research Capital LLC TRC now owns 573 shares of the semiconductor manufacturer’s stock valued at $134,000 after acquiring an additional 473 shares during the last quarter. 90.11% of the stock is currently owned by institutional investors and hedge funds.
Broadcom Limited 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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