Guinness Asset Management Ltd Has $21.26 Million Holdings in Broadcom Inc (AVGO)

Guinness Asset Management Ltd lifted its holdings in Broadcom Inc (NASDAQ:AVGO) by 11.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 83,597 shares of the semiconductor manufacturer’s stock after buying an additional 8,694 shares during the quarter. Broadcom makes up about 4.3% of Guinness Asset Management Ltd’s holdings, making the stock its 3rd biggest holding. Guinness Asset Management Ltd’s holdings in Broadcom were worth $21,257,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Dorsey & Whitney Trust CO LLC lifted its stake in Broadcom by 3.2% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 2,148 shares of the semiconductor manufacturer’s stock valued at $546,000 after acquiring an additional 66 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Broadcom by 27.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 96,523 shares of the semiconductor manufacturer’s stock worth $24,544,000 after purchasing an additional 20,876 shares during the period. Groesbeck Investment Management Corp NJ lifted its stake in shares of Broadcom by 22.9% in the 4th quarter. Groesbeck Investment Management Corp NJ now owns 22,134 shares of the semiconductor manufacturer’s stock worth $5,628,000 after purchasing an additional 4,118 shares during the period. Sumitomo Mitsui Asset Management Company LTD lifted its stake in shares of Broadcom by 64.5% in the 4th quarter. Sumitomo Mitsui Asset Management Company LTD now owns 271,013 shares of the semiconductor manufacturer’s stock worth $68,913,000 after purchasing an additional 106,290 shares during the period. Finally, CWM LLC lifted its stake in shares of Broadcom by 35.4% in the 4th quarter. CWM LLC now owns 872 shares of the semiconductor manufacturer’s stock worth $222,000 after purchasing an additional 228 shares during the period. 89.34% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Lewis C. Eggebrecht sold 2,000 shares of the firm’s stock in a transaction on Friday, December 14th. The stock was sold at an average price of $260.81, for a total transaction of $521,620.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction on Tuesday, January 15th. The shares were sold at an average price of $254.99, for a total value of $5,099,800.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 99,723 shares of company stock valued at $24,926,174. Corporate insiders own 3.30% of the company’s stock.

NASDAQ:AVGO opened at $275.72 on Tuesday. Broadcom Inc has a twelve month low of $197.46 and a twelve month high of $280.00. The firm has a market cap of $111.73 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 1.24 and a beta of 0.72. The company has a quick ratio of 3.41, a current ratio of 3.90 and a debt-to-equity ratio of 0.66.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, December 6th. The semiconductor manufacturer reported $5.85 earnings per share for the quarter, topping the consensus estimate of $5.58 by $0.27. Broadcom had a return on equity of 29.03% and a net margin of 58.80%. The business had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same period last year, the company earned $4.59 earnings per share. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Broadcom Inc will post 18.59 earnings per share for the current year.

AVGO has been the topic of several recent research reports. Morgan Stanley lowered their price objective on shares of Broadcom from $265.00 to $261.00 and set an “equal weight” rating on the stock in a research note on Monday, January 7th. BidaskClub cut shares of Broadcom from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 5th. Wells Fargo & Co reiterated a “market perform” rating and issued a $265.00 price objective on shares of Broadcom in a research note on Wednesday, November 28th. Deutsche Bank reiterated a “buy” rating and issued a $310.00 price objective on shares of Broadcom in a research note on Thursday, November 8th. Finally, ValuEngine upgraded shares of Broadcom from a “hold” rating to a “buy” rating in a research note on Monday, December 17th. Nine investment analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has assigned a strong buy rating to the stock. Broadcom currently has a consensus rating of “Buy” and a consensus price target of $288.93.

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About Broadcom

Broadcom Inc designs, develops, and supplies a range of semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. 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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