Addenda Capital Inc. decreased its holdings in Broadcom Ltd (NASDAQ:AVGO) by 10.2% in the fourth quarter, HoldingsChannel reports. The firm owned 45,099 shares of the semiconductor manufacturer’s stock after selling 5,141 shares during the period. Broadcom comprises about 0.8% of Addenda Capital Inc.’s portfolio, making the stock its 28th largest position. Addenda Capital Inc.’s holdings in Broadcom were worth $11,586,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of AVGO. Mountain Capital Investment Advisors Inc acquired a new stake in shares of Broadcom in the 2nd quarter worth $113,000. AllSquare Wealth Management LLC purchased a new position in Broadcom in the 3rd quarter worth $113,000. Tower Research Capital LLC TRC raised its stake in Broadcom by 473.0% in 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 last quarter. Carroll Financial Associates Inc. raised its stake in Broadcom by 59.0% in 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 last quarter. Finally, Balentine LLC raised its stake in Broadcom by 21.9% in the 2nd quarter. Balentine LLC now owns 635 shares of the semiconductor manufacturer’s stock worth $148,000 after acquiring an additional 114 shares during the last quarter. 88.48% of the stock is owned by hedge funds and other institutional investors.

Shares of Broadcom Ltd (AVGO) traded down $0.14 during trading on Friday, hitting $263.36. The company had a trading volume of 881,171 shares, compared to its average volume of 2,603,950. The company has a current ratio of 6.26, a quick ratio of 5.68 and a debt-to-equity ratio of 0.75. Broadcom Ltd has a 1 year low of $175.40 and a 1 year high of $285.68. The stock has a market cap of $107,310.00, a price-to-earnings ratio of 67.01, a PEG ratio of 1.16 and a beta of 1.04.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results 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 firm had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.84 billion. During the same quarter in the previous year, the business earned $3.47 EPS. Broadcom’s revenue for the quarter was up 17.1% compared to the same quarter last year. sell-side analysts anticipate that Broadcom Ltd will post 16.99 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Tuesday, December 19th were paid a $1.75 dividend. This represents a $7.00 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend was Monday, December 18th. This is a positive change from Broadcom’s previous quarterly dividend of $1.02. Broadcom’s payout ratio is currently 178.12%.

In related news, insider Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $247.83, for a total value of $4,956,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Thomas H. Krause sold 656 shares of Broadcom stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $264.38, for a total value of $173,433.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 86,674 shares of company stock valued at $22,311,790. 3.60% of the stock is owned by company insiders.

A number of brokerages recently issued reports on AVGO. Vetr lowered Broadcom from a “buy” rating to a “hold” rating and set a $273.40 target price for the company. in a research note on Wednesday. BidaskClub lowered Broadcom from a “hold” rating to a “sell” rating in a research note on Thursday. Jefferies Group set a $286.00 target price on Broadcom and gave the stock a “buy” rating in a research note on Wednesday, October 18th. B. Riley restated a “buy” rating and issued a $315.00 target price on shares of Broadcom in a research note on Monday, November 20th. Finally, Susquehanna Bancshares raised their target price on Broadcom from $300.00 to $325.00 and gave the stock a “positive” rating in a research note on Wednesday, December 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-two have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $302.66.

ILLEGAL ACTIVITY NOTICE: “Broadcom Ltd (AVGO) Stake Decreased by Addenda Capital Inc.” was first posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this report on another website, it was stolen and reposted in violation of US & international copyright laws. The legal version of this report can be viewed at https://www.thecerbatgem.com/2018/01/12/broadcom-ltd-avgo-stake-decreased-by-addenda-capital-inc.html.

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.

Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Ltd (NASDAQ:AVGO).

Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

Receive News & Stock Ratings for Broadcom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom and related stocks with our FREE daily email newsletter.