Southpoint Capital Advisors LP trimmed its holdings in shares of Broadcom Ltd (NASDAQ:AVGO) by 32.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 425,000 shares of the semiconductor manufacturer’s stock after selling 200,000 shares during the quarter. Broadcom comprises 5.2% of Southpoint Capital Advisors LP’s portfolio, making the stock its 6th biggest holding. Southpoint Capital Advisors LP’s holdings in Broadcom were worth $109,183,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of AVGO. AllSquare Wealth Management LLC bought a new stake in Broadcom during the third quarter valued at about $113,000. SeaCrest Wealth Management LLC bought a new stake in Broadcom during the fourth quarter valued at about $124,000. FNY Partners Fund LP bought a new stake in Broadcom during the fourth quarter valued at about $154,000. Independence Bank of Kentucky bought a new stake in Broadcom during the fourth quarter valued at about $188,000. Finally, Premia Global Advisors LLC bought a new stake in Broadcom during the fourth quarter valued at about $198,000. 89.52% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Broadcom Ltd (NASDAQ:AVGO) opened at $253.78 on Monday. The firm has a market cap of $104,173.39, a P/E ratio of 59.57, a PEG ratio of 1.06 and a beta of 0.88. The company has a debt-to-equity ratio of 0.75, a quick ratio of 5.68 and a current ratio of 6.26. Broadcom Ltd has a fifty-two week low of $208.44 and a fifty-two week high of $285.68.
In other news, insider Kirsten M. Spears sold 199 shares of the firm’s stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $243.88, for a total transaction of $48,532.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Hock E. Tan sold 20,789 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $259.85, for a total transaction of $5,402,021.65. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 84,481 shares of company stock valued at $21,805,795. Company insiders own 3.32% of the company’s stock.
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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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