Intl Fcstone Inc. bought a new position in shares of Broadcom Limited (NASDAQ:AVGO) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,737 shares of the semiconductor manufacturer’s stock, valued at approximately $1,104,000.
A number of other institutional investors also recently made changes to their positions in the business. Alps Advisors Inc. acquired a new position in shares of Broadcom Limited during the second quarter worth approximately $221,000. Principal Financial Group Inc. lifted its holdings in shares of Broadcom Limited by 14.4% during the second quarter. Principal Financial Group Inc. now owns 667,057 shares of the semiconductor manufacturer’s stock worth $155,459,000 after buying an additional 83,929 shares during the last quarter. DSAM Partners London Ltd lifted its holdings in shares of Broadcom Limited by 103.4% during the second quarter. DSAM Partners London Ltd now owns 184,714 shares of the semiconductor manufacturer’s stock worth $43,048,000 after buying an additional 93,890 shares during the last quarter. Segment Wealth Management LLC lifted its holdings in shares of Broadcom Limited by 6.1% during the second quarter. Segment Wealth Management LLC now owns 14,030 shares of the semiconductor manufacturer’s stock worth $3,269,000 after buying an additional 810 shares during the last quarter. Finally, Teachers Advisors LLC lifted its holdings in shares of Broadcom Limited by 0.3% during the second quarter. Teachers Advisors LLC now owns 1,280,437 shares of the semiconductor manufacturer’s stock worth $298,406,000 after buying an additional 4,357 shares during the last quarter. 89.65% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have recently commented on AVGO shares. Deutsche Bank AG upped their price target on Broadcom Limited from $275.00 to $295.00 and gave the stock a “buy” rating in a report on Friday, August 25th. Sanford C. Bernstein reiterated an “outperform” rating and set a $285.00 price target on shares of Broadcom Limited in a report on Tuesday, October 10th. Vetr lowered Broadcom Limited from a “buy” rating to a “hold” rating and set a $261.95 price target for the company. in a report on Monday, September 4th. Barclays PLC upped their price target on Broadcom Limited from $290.00 to $300.00 and gave the stock an “overweight” rating in a report on Wednesday, October 18th. Finally, Mizuho reiterated a “buy” rating and set a $290.00 price target on shares of Broadcom Limited in a report on Sunday, October 8th. One investment analyst has rated the stock with a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $277.51.
In related news, SVP Bryan Ingram sold 30,000 shares of the company’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $244.01, for a total transaction of $7,320,300.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Charlie B. Kawwas sold 1,788 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $247.28, for a total value of $442,136.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 81,788 shares of company stock worth $20,054,837. 3.60% of the stock is owned by corporate insiders.
Shares of Broadcom Limited (NASDAQ AVGO) opened at 244.24 on Monday. Broadcom Limited has a 52-week low of $160.62 and a 52-week high of $259.36. The stock’s 50 day moving average price is $244.97 and its 200-day moving average price is $240.32. The firm has a market cap of $99.64 billion, a price-to-earnings ratio of 186.02 and a beta of 1.08.
Broadcom Limited (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $4.03 by $0.07. Broadcom Limited had a return on equity of 26.82% and a net margin of 3.12%. The firm had revenue of $4.47 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same quarter in the previous year, the company posted $2.89 EPS. The business’s revenue was up 17.5% on a year-over-year basis. On average, analysts forecast that Broadcom Limited will post $15.91 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Tuesday, September 19th were given a dividend of $1.02 per share. The ex-dividend date of this dividend was Monday, September 18th. This represents a $4.08 annualized dividend and a dividend yield of 1.67%. Broadcom Limited’s payout ratio is 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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