Louisiana State Employees Retirement System boosted its position in Broadcom Limited (NASDAQ:AVGO) by 1.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,900 shares of the semiconductor manufacturer’s stock after buying an additional 300 shares during the period. Louisiana State Employees Retirement System’s holdings in Broadcom Limited were worth $5,803,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Nisa Investment Advisors LLC increased its stake in Broadcom Limited by 1.5% in the second quarter. Nisa Investment Advisors LLC now owns 104,191 shares of the semiconductor manufacturer’s stock valued at $24,378,000 after buying an additional 1,543 shares during the period. D. Scott Neal Inc. purchased a new stake in Broadcom Limited during the second quarter valued at $127,000. CENTRAL TRUST Co increased its position in shares of Broadcom Limited by 0.8% in the second quarter. CENTRAL TRUST Co now owns 69,652 shares of the semiconductor manufacturer’s stock valued at $16,233,000 after buying an additional 559 shares during the last quarter. James Investment Research Inc. increased its position in shares of Broadcom Limited by 4.3% in the second quarter. James Investment Research Inc. now owns 89,322 shares of the semiconductor manufacturer’s stock valued at $20,816,000 after buying an additional 3,717 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. increased its position in shares of Broadcom Limited by 517.2% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 66,222 shares of the semiconductor manufacturer’s stock valued at $15,433,000 after buying an additional 55,492 shares during the last quarter. Hedge funds and other institutional investors own 90.34% of the company’s stock.
Shares of Broadcom Limited (AVGO) traded up 0.70% during midday trading on Tuesday, hitting $248.39. 1,754,409 shares of the stock traded hands. The stock has a 50-day moving average of $243.94 and a 200-day moving average of $225.52. Broadcom Limited has a 52-week low of $158.75 and a 52-week high of $258.49. The company has a market cap of $100.99 billion, a price-to-earnings ratio of 15.99 and a beta of 1.05.
Broadcom Limited (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, June 1st. The semiconductor manufacturer reported $3.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.50 by $0.19. Broadcom Limited had a negative net margin of 1.54% and a positive return on equity of 24.15%. The company had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $4.11 billion. During the same quarter in the previous year, the firm earned $2.53 earnings per share. The firm’s quarterly revenue was up 17.9% on a year-over-year basis. On average, equities analysts predict that Broadcom Limited will post $15.78 earnings per share for the current fiscal year.
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AVGO has been the topic of a number of recent analyst reports. Morgan Stanley reissued an “overweight” rating and issued a $265.00 price objective (up from $245.00) on shares of Broadcom Limited in a research note on Thursday, May 25th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $260.00 target price on shares of Broadcom Limited in a research report on Friday, April 7th. Mizuho reissued a “buy” rating and set a $265.00 price objective (up from $250.00) on shares of Broadcom Limited in a report on Sunday, May 28th. Zacks Investment Research lowered Broadcom Limited from a “buy” rating to a “hold” rating in a report on Tuesday, May 2nd. Finally, Pacific Crest restated an “overweight” rating and issued a $260.00 target price on shares of Broadcom Limited in a research note on Wednesday, May 31st. One investment analyst has rated the stock with a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Broadcom Limited currently has a consensus rating of “Buy” and a consensus price target of $263.29.
In related news, SVP Bryan Ingram sold 10,000 shares of the company’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $244.59, for a total value of $2,445,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kirsten M. Spears sold 1,306 shares of the business’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $254.15, for a total transaction of $331,919.90. The disclosure for this sale can be found here. Insiders have sold a total of 41,306 shares of company stock valued at $10,380,120 in the last 90 days. Insiders own 3.60% of the company’s stock.
Broadcom Limited Company 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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