Southport Management L.L.C. Sells 2,000 Shares of Broadcom Limited (AVGO)

Southport Management L.L.C. reduced its stake in shares of Broadcom Limited (NASDAQ:AVGO) by 28.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,000 shares of the semiconductor manufacturer’s stock after selling 2,000 shares during the quarter. Broadcom makes up approximately 3.2% of Southport Management L.L.C.’s portfolio, making the stock its 9th largest position. Southport Management L.L.C.’s holdings in Broadcom were worth $1,213,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Mountain Capital Investment Advisors Inc acquired a new stake in shares of Broadcom during the second quarter worth approximately $113,000. AllSquare Wealth Management LLC acquired a new stake in shares of Broadcom during the third quarter worth approximately $113,000. Shine Investment Advisory Services Inc. acquired a new stake in shares of Broadcom during the second quarter worth approximately $116,000. Tower Research Capital LLC TRC boosted its holdings in shares of Broadcom by 473.0% during the second quarter. Tower Research Capital LLC TRC now owns 573 shares of the semiconductor manufacturer’s stock worth $134,000 after purchasing an additional 473 shares during the period. Finally, Catamount Wealth Management acquired a new stake in Broadcom in the second quarter valued at approximately $140,000. Institutional investors and hedge funds own 88.99% of the company’s stock.

In related news, SVP Bryan Ingram sold 10,000 shares of the business’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $240.62, for a total transaction of $2,406,200.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Thomas H. Krause sold 2,595 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $267.34, for a total transaction of $693,747.30. The disclosure for this sale can be found here. Insiders have sold 104,383 shares of company stock worth $25,949,184 in the last ninety days. 3.60% of the stock is currently owned by insiders.

AVGO has been the subject of a number of analyst reports. Royal Bank Of Canada reiterated a “buy” rating and issued a $270.00 target price on shares of Broadcom in a research note on Friday, August 11th. BidaskClub cut shares of Broadcom from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 11th. Vetr upgraded shares of Broadcom from a “hold” rating to a “buy” rating and set a $258.25 target price for the company in a research note on Monday, August 14th. Cowen reiterated a “buy” rating and issued a $260.00 target price on shares of Broadcom in a research note on Friday, August 11th. Finally, Zacks Investment Research cut shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, August 17th. Five 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 company. Broadcom presently has a consensus rating of “Buy” and a consensus price target of $293.51.

Shares of Broadcom Limited (NASDAQ AVGO) opened at $263.89 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 4.48 and a quick ratio of 3.84. Broadcom Limited has a one year low of $163.67 and a one year high of $285.68. The firm has a market cap of $106,747.80, a price-to-earnings ratio of 19.78, a PEG ratio of 1.26 and a beta of 1.05.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.52 by $0.07. Broadcom had a net margin of 3.12% and a return on equity of 26.82%. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.84 billion. During the same quarter in the previous year, the firm posted $3.47 earnings per share. Broadcom’s revenue was up 17.1% compared to the same quarter last year. research analysts anticipate that Broadcom Limited will post 13.93 EPS for the current fiscal 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.

Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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