Pillar Pacific Capital Management LLC Has $12.92 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)


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Pillar Pacific Capital Management LLC decreased its position in Broadcom Inc. (NASDAQ:AVGO) by 1.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,500 shares of the semiconductor manufacturer’s stock after selling 552 shares during the period. Broadcom comprises approximately 1.1% of Pillar Pacific Capital Management LLC’s holdings, making the stock its 22nd largest holding. Pillar Pacific Capital Management LLC’s holdings in Broadcom were worth $12,917,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Allianz Asset Management GmbH raised its holdings in shares of Broadcom by 36.5% in the 3rd quarter. Allianz Asset Management GmbH now owns 1,711,886 shares of the semiconductor manufacturer’s stock worth $623,675,000 after buying an additional 457,885 shares in the last quarter. Ninety One UK Ltd raised its holdings in shares of Broadcom by 33.7% in the 3rd quarter. Ninety One UK Ltd now owns 1,166,543 shares of the semiconductor manufacturer’s stock worth $424,995,000 after buying an additional 294,310 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Broadcom by 8.8% in the 3rd quarter. Nuveen Asset Management LLC now owns 3,430,950 shares of the semiconductor manufacturer’s stock worth $1,249,964,000 after buying an additional 278,003 shares in the last quarter. BlackRock Inc. grew its position in Broadcom by 1.0% during the 4th quarter. BlackRock Inc. now owns 26,016,338 shares of the semiconductor manufacturer’s stock worth $11,391,253,000 after acquiring an additional 244,861 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in Broadcom by 28.3% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,105,248 shares of the semiconductor manufacturer’s stock worth $402,664,000 after acquiring an additional 243,783 shares during the last quarter. 80.62% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts recently commented on the company. Argus increased their price target on Broadcom from $400.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday, December 14th. KeyCorp restated a “buy” rating on shares of Broadcom in a research report on Monday, December 14th. Oppenheimer restated a “buy” rating and set a $475.00 price target on shares of Broadcom in a research report on Friday, December 11th. Mizuho lifted their target price on Broadcom from $460.00 to $480.00 and gave the company a “buy” rating in a research note on Monday, December 28th. Finally, Wells Fargo & Company upped their price target on Broadcom from $360.00 to $410.00 and gave the company an “equal weight” rating in a research note on Friday, December 11th. Five analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $422.59.

NASDAQ AVGO traded down $8.34 during trading hours on Tuesday, reaching $468.02. 50,492 shares of the company’s stock were exchanged, compared to its average volume of 1,637,027. Broadcom Inc. has a one year low of $155.67 and a one year high of $495.14. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.71 and a current ratio of 1.87. The company’s 50-day moving average is $461.79 and its two-hundred day moving average is $396.97. The company has a market capitalization of $190.35 billion, a price-to-earnings ratio of 74.24, a price-to-earnings-growth ratio of 1.50 and a beta of 1.05.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Wednesday, December 9th. The semiconductor manufacturer reported $6.35 earnings per share for the quarter, topping analysts’ consensus estimates of $6.25 by $0.10. Broadcom had a return on equity of 35.23% and a net margin of 12.39%. The firm had revenue of $6.47 billion during the quarter, compared to the consensus estimate of $6.43 billion. During the same quarter in the prior year, the firm posted $5.39 EPS. The business’s revenue was up 12.0% on a year-over-year basis. Research analysts predict that Broadcom Inc. will post 23.14 earnings per share for the current fiscal year.

In other Broadcom news, Director Eddy W. Hartenstein sold 530 shares of the company’s stock in a transaction that occurred on Tuesday, February 9th. The stock was sold at an average price of $473.14, for a total transaction of $250,764.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas H. Krause sold 2,550 shares of the stock in a transaction that occurred on Tuesday, December 15th. The shares were sold at an average price of $415.46, for a total value of $1,059,423.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 178,268 shares of company stock valued at $76,098,016. Insiders own 3.00% of the company’s stock.

Broadcom Profile

Broadcom Inc designs, develops, and supplies semiconductor infrastructure software solutions. It offers 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's infrastructure software solutions enable customers to plan, develop, automate, manage, and secure applications across mainframe, distributed, mobile, and cloud platforms.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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