Vestor Capital LLC increased its stake in Broadcom Limited (NASDAQ:AVGO) by 0.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,051 shares of the semiconductor manufacturer’s stock after purchasing an additional 49 shares during the quarter. Vestor Capital LLC’s holdings in Broadcom Limited were worth $3,508,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in AVGO. BlackRock Inc. increased its stake in Broadcom Limited by 2,707.3% in the 1st quarter. BlackRock Inc. now owns 23,131,935 shares of the semiconductor manufacturer’s stock worth $5,064,971,000 after buying an additional 22,307,935 shares in the last quarter. Vanguard Group Inc. increased its stake in Broadcom Limited by 7.0% in the 1st quarter. Vanguard Group Inc. now owns 26,768,435 shares of the semiconductor manufacturer’s stock worth $5,861,217,000 after buying an additional 1,746,144 shares in the last quarter. Harbour Capital Advisors LLC increased its stake in Broadcom Limited by 22,924.6% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,530,905 shares of the semiconductor manufacturer’s stock worth $6,569,000 after buying an additional 1,524,256 shares in the last quarter. Wellington Management Group LLP increased its stake in Broadcom Limited by 29.3% in the 1st quarter. Wellington Management Group LLP now owns 6,710,760 shares of the semiconductor manufacturer’s stock worth $1,469,388,000 after buying an additional 1,519,598 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Broadcom Limited by 18.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,704,177 shares of the semiconductor manufacturer’s stock worth $2,028,442,000 after buying an additional 1,338,695 shares in the last quarter. 90.04% of the stock is currently owned by institutional investors.
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A number of equities research analysts have issued reports on AVGO shares. B. Riley reiterated an “avgo (” rating and issued a $305.00 price target on shares of Broadcom Limited in a research note on Monday, August 21st. Craig Hallum increased their price target on Broadcom Limited from $260.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, June 2nd. Loop Capital reiterated a “buy” rating and issued a $270.00 price target (up previously from $251.00) on shares of Broadcom Limited in a research note on Thursday, June 1st. Deutsche Bank AG reiterated a “buy” rating and issued a $275.00 price target (up previously from $255.00) on shares of Broadcom Limited in a research note on Thursday, June 1st. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $260.00 price target on shares of Broadcom Limited in a research note on Wednesday, May 31st. Two equities research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $274.48.
In other Broadcom Limited news, SVP Bryan Ingram sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $244.59, for a total transaction of $2,445,900.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.60% of the stock is owned by corporate insiders.
Shares of Broadcom Limited (AVGO) traded down 0.520% during trading on Wednesday, reaching $245.855. 696,472 shares of the company traded hands. Broadcom Limited has a 52 week low of $160.62 and a 52 week high of $259.36. The firm’s 50 day moving average price is $249.74 and its 200-day moving average price is $235.37. The company has a market capitalization of $100.30 billion, a price-to-earnings ratio of 187.247 and a beta of 1.07.
Broadcom Limited (NASDAQ:AVGO) last released its earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.03 by $0.07. The company had revenue of $4.47 billion for the quarter, compared to analyst estimates of $4.46 billion. Broadcom Limited had a net margin of 3.12% and a return on equity of 26.82%. The firm’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.89 EPS. Equities analysts anticipate that Broadcom Limited will post $15.92 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Tuesday, September 19th will be issued a dividend of $1.02 per share. The ex-dividend date is Monday, September 18th. This represents a $4.08 dividend on an annualized basis and a yield of 1.65%. Broadcom Limited’s dividend payout ratio (DPR) is presently 348.72%.
Broadcom Limited 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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