Ameriprise Financial Inc. Has $1.97 Billion Stake in Broadcom Limited (AVGO)

07 December, 2017, 09:48 | Author: Regina Silva

Its up 3.11% from 520,800 shares previously.

Several other large investors have also recently modified their holdings of the company. Mountain Capital Investment Advisors Inc bought a new position in Broadcom in the second quarter valued at about $113,000.

The biggest institutional shareholders in Broadcom Limited include Capital World Investors which owns 43 million shares in the company valued at $10.11 B million. Finally, Catamount Wealth Management acquired a new position in shares of Broadcom during the 2nd quarter worth approximately $140,000. Finally, Tower Research Capital LLC TRC raised its position in Broadcom by 473.0% in the second quarter. The biggest holder now is Dick M. Chang who owns 266,666 shares (0.07% of those outstanding), whilst Dr. Henry Samueli, PhD holds 195,067 (0.05% of shares outstanding) and Mr. Hock E. Tan holds 110,623 (0.03% of shares outstanding). Institutional investors and hedge funds own 88.99% of the company's stock.

Broadcom Ltd (NASDAQ:AVGO) late Wednesday posted mixed fiscal fourth quarter earnings results and offered a bullish outlook for fiscal Q1.

Net income in the period ended Oct 29 was US$671 million, or US$1.50 a share, compared with a loss of US$668 million, or US$1.59, a year earlier. The company's P/E (price to earnings) ratio is 215 and Forward P/E ratio of 14.55.

If we look at the Volatility of the company, Week Volatility is 4.02%, whereas Month Volatility is at 2.71%. Broadcom Limited (avgo) has 0.00% since December 6, 2016 and is. Cibc Corp has invested 0.25% in Broadcom Limited (NASDAQ:AVGO). Wagner Bowman Management reported 0.08% stake.

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Analyst on average were expecting revenue of $866 million and a profit of $1.17 per share, according to Thomson Reuters I/B/E/S. The company had revenue of $619.00 million during the quarter, compared to analysts' expectations of $610.56 million.


The company also forecast current-quarter revenue of $5.30 billion, plus or minus $75 million, helped by its acquisition of network gear maker Brocade Communications Systems. Jennison Associates LLC now owns 4,201,357 shares of the semiconductor manufacturer's stock worth $919,929,000 after buying an additional 3,782,991 shares in the last 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 last quarter.

AVGO has been the topic of a number of analyst reports. Barclays boosted their target price on shares of Broadcom from $290.00 to $300.00 and gave the stock an "overweight" rating in a report on Wednesday, October 18th.

Equities researchers at KeyBanc now has a $320 target price per share on Broadcom Limited (avgo). Vetr cut Broadcom from a "buy" rating to a "hold" rating and set a $261.95 price objective on the stock.in a research note on Monday, September 4th. The stock's average target of $204.75 is -22.41% below today's ($263.89) share price. Also, CFO Thomas H. Krause sold 2,595 shares of the company's stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $247.28, for a total transaction of $442,136.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The stock was sold at an average price of $246.48, for a total transaction of $4,929,600.00. The disclosure for this sale can be found here.

According to the Recommendation Trends of the stock polled by Finviz, the company has a consensus recommendation of 1.7 out of the scale from 1 to 5, where 1 stands for Buy and 5 means Sell. The stock of Broadcom Limited (NASDAQ:AVGO) earned "Buy" rating by Drexel Hamilton on Friday, September 2. "AR" was reported by StockNewsTimes and is the property of of StockNewsTimes.

Broadcom Limited designs, develops, and supplies a range of semiconductor devices worldwide.

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