Swarthmore Group Inc. grew its holdings in Broadcom Ltd (NASDAQ:AVGO) by 3,672.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 33,950 shares of the semiconductor manufacturer’s stock after buying an additional 33,050 shares during the quarter. Broadcom makes up about 1.9% of Swarthmore Group Inc.’s investment portfolio, making the stock its 16th largest holding. Swarthmore Group Inc.’s holdings in Broadcom were worth $8,722,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AVGO. Peapack Gladstone Financial Corp raised its position in shares of Broadcom by 0.5% in the 2nd quarter. Peapack Gladstone Financial Corp now owns 2,158 shares of the semiconductor manufacturer’s stock worth $503,000 after acquiring an additional 10 shares in the last quarter. Intellectus Partners LLC raised its position in shares of Broadcom by 6.0% in the 2nd quarter. Intellectus Partners LLC now owns 1,681 shares of the semiconductor manufacturer’s stock worth $392,000 after acquiring an additional 95 shares in the last quarter. Beaumont Financial Partners LLC raised its position in shares of Broadcom by 10.0% in the 2nd quarter. Beaumont Financial Partners LLC now owns 1,104 shares of the semiconductor manufacturer’s stock worth $257,000 after acquiring an additional 100 shares in the last quarter. Balentine LLC raised its position in shares of 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 in the last quarter. Finally, Zacks Investment Management raised its position in shares of Broadcom by 13.7% in the 2nd quarter. Zacks Investment Management now owns 1,187 shares of the semiconductor manufacturer’s stock worth $277,000 after acquiring an additional 143 shares in the last quarter. Institutional investors and hedge funds own 88.55% of the company’s stock.
In other news, CEO Hock E. Tan sold 20,000 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $259.68, for a total value of $5,193,600.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Thomas H. Krause sold 2,595 shares of the business’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $267.34, for a total value of $693,747.30. The disclosure for this sale can be found here. Insiders sold 66,674 shares of company stock worth $17,355,190 over the last 90 days. Company insiders own 3.60% of the company’s stock.
Broadcom Ltd (NASDAQ AVGO) traded up $3.99 during midday trading on Thursday, reaching $269.80. The company had a trading volume of 3,020,488 shares, compared to its average volume of 3,060,000. The stock has a market capitalization of $110,070.00, a P/E ratio of 68.65, a PEG ratio of 1.13 and a beta of 1.04. The company has a quick ratio of 5.68, a current ratio of 6.26 and a debt-to-equity ratio of 0.75. Broadcom Ltd has a 12 month low of $180.00 and a 12 month high of $285.68.
Broadcom (NASDAQ:AVGO) last released its 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. The company had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.84 billion. Broadcom had a return on equity of 28.64% and a net margin of 10.18%. Broadcom’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the previous year, the business earned $3.47 earnings per share. sell-side analysts anticipate that Broadcom Ltd will post 16.99 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Tuesday, December 19th were given a $1.75 dividend. This represents a $7.00 annualized dividend and a dividend yield of 2.59%. This is an increase from Broadcom’s previous quarterly dividend of $1.02. The ex-dividend date was Monday, December 18th. Broadcom’s payout ratio is presently 178.12%.
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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