California Public Employees Retirement System lifted its stake in Broadcom Limited (NASDAQ:AVGO) by 11.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 916,797 shares of the semiconductor manufacturer’s stock after buying an additional 97,483 shares during the period. California Public Employees Retirement System owned approximately 0.22% of Broadcom worth $222,360,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC increased its holdings in Broadcom by 6.6% during the 3rd quarter. Janney Montgomery Scott LLC now owns 46,874 shares of the semiconductor manufacturer’s stock valued at $11,369,000 after purchasing an additional 2,899 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its holdings in Broadcom by 18.6% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 15,566 shares of the semiconductor manufacturer’s stock valued at $3,775,000 after purchasing an additional 2,442 shares during the period. Cubist Systematic Strategies LLC increased its holdings in Broadcom by 6.0% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 32,133 shares of the semiconductor manufacturer’s stock valued at $7,794,000 after purchasing an additional 1,824 shares during the period. Kalos Management Inc. increased its holdings in Broadcom by 4.5% during the 3rd quarter. Kalos Management Inc. now owns 20,398 shares of the semiconductor manufacturer’s stock valued at $4,947,000 after purchasing an additional 884 shares during the period. Finally, Point72 Asset Management L.P. increased its holdings in Broadcom by 89.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 485,597 shares of the semiconductor manufacturer’s stock valued at $117,777,000 after purchasing an additional 229,194 shares during the period. Hedge funds and other institutional investors own 88.99% of the company’s stock.

AVGO has been the topic of several research reports. B. Riley reaffirmed a “buy” rating and set a $305.00 price objective on shares of Broadcom in a research report on Saturday, August 26th. Vetr raised Broadcom from a “hold” rating to a “buy” rating and set a $258.25 price objective on the stock in a research report on Monday, August 14th. Mizuho lifted their price objective on Broadcom from $290.00 to $310.00 and gave the company a “buy” rating in a research report on Thursday. Nomura lifted their price objective on Broadcom to $330.00 and gave the company a “buy” rating in a research report on Friday. Finally, Sanford C. Bernstein set a $325.00 price objective on Broadcom and gave the company a “buy” rating in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $303.13.

In related news, SVP Bryan Ingram sold 30,000 shares of the company’s stock in a transaction that occurred on 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 legal filing with the SEC, which is available through the SEC website. Also, insider Hock E. Tan sold 20,000 shares of the company’s stock in a transaction that occurred on 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 103,389 shares of company stock worth $25,712,376 over the last ninety days. 3.60% of the stock is currently owned by insiders.

Shares of Broadcom Limited (NASDAQ AVGO) opened at $259.91 on Monday. The company has a debt-to-equity ratio of 0.75, a current ratio of 6.39 and a quick ratio of 3.84. Broadcom Limited has a 12-month low of $173.31 and a 12-month high of $285.68. The company has a market capitalization of $106,040.00, a P/E ratio of 18.05, a PEG ratio of 1.18 and a beta of 1.05.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 EPS for the quarter, topping analysts’ consensus estimates of $4.52 by $0.07. Broadcom had a return on equity of 28.61% and a net margin of 10.18%. The firm had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.84 billion. During the same period in the previous year, the firm posted $3.47 EPS. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. research analysts predict that Broadcom Limited will post 16.04 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Tuesday, December 19th will be given a $1.75 dividend. This is a boost from Broadcom’s previous quarterly dividend of $1.02. This represents a $7.00 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date is Monday, December 18th. Broadcom’s payout ratio is currently 334.43%.

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About Broadcom

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.

Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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