IPG Investment Advisors LLC purchased a new position in shares of Broadcom Ltd (NASDAQ:AVGO) during the fourth quarter, HoldingsChannel reports. The fund purchased 2,425 shares of the semiconductor manufacturer’s stock, valued at approximately $623,000.

Several other institutional investors also recently made changes to their positions in the company. Heritage Investors Management Corp raised its position in shares of Broadcom by 46.0% during the 4th quarter. Heritage Investors Management Corp now owns 27,268 shares of the semiconductor manufacturer’s stock worth $7,005,000 after purchasing an additional 8,593 shares during the period. Bronfman E.L. Rothschild L.P. grew its holdings in Broadcom by 34.9% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 4,415 shares of the semiconductor manufacturer’s stock worth $1,134,000 after buying an additional 1,143 shares in the last quarter. Buckley Wealth Management LLC bought a new position in Broadcom in the 4th quarter worth approximately $809,000. Wealthstreet Investment Advisors LLC bought a new position in Broadcom in the 4th quarter worth approximately $647,000. Finally, Balter Liquid Alternatives LLC bought a new position in Broadcom in the 4th quarter worth approximately $1,859,000. Institutional investors and hedge funds own 88.46% of the company’s stock.

A number of equities analysts recently issued reports on the company. Vetr raised Broadcom from a “hold” rating to a “buy” rating and set a $269.37 price objective for the company in a report on Thursday, January 25th. Jefferies Group set a $286.00 price objective on Broadcom and gave the stock a “buy” rating in a report on Wednesday, October 18th. B. Riley reissued a “buy” rating and issued a $315.00 price objective on shares of Broadcom in a report on Monday, November 20th. Susquehanna Bancshares increased their price objective on Broadcom from $300.00 to $325.00 and gave the stock a “positive” rating in a report on Wednesday, December 6th. Finally, Zacks Investment Research lowered Broadcom from a “buy” rating to a “hold” rating in a report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, three have given a hold rating, thirty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Broadcom presently has a consensus rating of “Buy” and an average price target of $301.33.

In other news, insider Hock E. Tan sold 20,789 shares of the stock in a transaction on Monday, December 18th. The stock was sold at an average price of $259.85, for a total value of $5,402,021.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Thomas H. Krause sold 656 shares of the stock in a transaction on 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. Over the last three months, insiders have sold 86,674 shares of company stock valued at $22,659,390. Corporate insiders own 3.60% of the company’s stock.

Shares of Broadcom Ltd (NASDAQ:AVGO) opened at $244.40 on Tuesday. The firm has a market capitalization of $96,508.47, a price-to-earnings ratio of 57.37, a PEG ratio of 0.98 and a beta of 0.88. 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 one year low of $202.61 and a one year high of $285.68.

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, topping the consensus estimate of $4.52 by $0.07. The business had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.84 billion. Broadcom had a return on equity of 28.64% and a net margin of 10.18%. The company’s revenue was up 17.1% compared to the same quarter last year. During the same period last year, the company posted $3.47 EPS. research analysts anticipate that Broadcom Ltd will post 17.41 earnings per share for the current year.

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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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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