OLD National Bancorp IN cut its holdings in Broadcom Ltd (NASDAQ:AVGO) by 28.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,812 shares of the semiconductor manufacturer’s stock after selling 725 shares during the period. OLD National Bancorp IN’s holdings in Broadcom were worth $466,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Jennison Associates LLC lifted its holdings in Broadcom by 8.1% in the 4th quarter. Jennison Associates LLC now owns 5,583,858 shares of the semiconductor manufacturer’s stock worth $1,434,493,000 after purchasing an additional 418,420 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Broadcom by 0.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 5,309,909 shares of the semiconductor manufacturer’s stock worth $1,287,864,000 after acquiring an additional 36,356 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Broadcom by 80.3% during the 3rd quarter. Janus Henderson Group PLC now owns 3,397,443 shares of the semiconductor manufacturer’s stock worth $823,980,000 after acquiring an additional 1,512,956 shares in the last quarter. Allianz Asset Management GmbH raised its holdings in shares of Broadcom by 12.2% during the 3rd quarter. Allianz Asset Management GmbH now owns 2,736,846 shares of the semiconductor manufacturer’s stock worth $663,795,000 after acquiring an additional 297,100 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Broadcom by 7.1% during the 3rd quarter. Wells Fargo & Company MN now owns 2,223,092 shares of the semiconductor manufacturer’s stock worth $539,188,000 after acquiring an additional 147,737 shares in the last quarter. 88.46% of the stock is currently owned by institutional investors.

In other news, CFO Thomas H. Krause sold 656 shares of the firm’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $264.38, for a total value of $173,433.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $265.21, for a total value of $5,304,200.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 64,079 shares of company stock valued at $16,765,043. 3.60% of the stock is currently owned by company insiders.

Several brokerages have recently issued reports on AVGO. Zacks Investment Research raised Broadcom from a “hold” rating to a “buy” rating and set a $264.00 price objective on the stock in a report on Tuesday. BidaskClub raised Broadcom from a “strong sell” rating to a “sell” rating in a research report on Wednesday, February 7th. Jefferies Group set a $286.00 target price on Broadcom and gave the company a “buy” rating in a research report on Wednesday, October 18th. B. Riley reissued a “buy” rating and set a $335.00 target price (up previously from $330.00) on shares of Broadcom in a research report on Thursday, February 1st. Finally, Royal Bank of Canada reissued a “buy” rating on shares of Broadcom in a research report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the stock. Broadcom presently has a consensus rating of “Buy” and an average price target of $301.58.

Shares of Broadcom Ltd (NASDAQ:AVGO) opened at $247.66 on Thursday. 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 12 month low of $202.61 and a 12 month high of $285.68. The firm has a market capitalization of $100,754.02, a price-to-earnings ratio of 58.14, a P/E/G ratio of 1.03 and a beta of 0.88.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 EPS for the quarter, beating analysts’ consensus estimates of $4.52 by $0.07. Broadcom had a return on equity of 28.64% and a net margin of 10.18%. The company had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.84 billion. During the same period last year, the business posted $3.47 earnings per share. The firm’s revenue was up 17.1% compared to the same quarter last year. analysts anticipate that Broadcom Ltd will post 17.41 earnings per share for the current fiscal year.

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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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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