Capital One National Association increased its position in Broadcom Limited (NASDAQ:AVGO) by 5.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,141 shares of the semiconductor manufacturer’s stock after buying an additional 217 shares during the period. Capital One National Association’s holdings in Broadcom Limited were worth $965,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the company. FNY Managed Accounts LLC bought a new position in Broadcom Limited during the first quarter worth approximately $100,000. AllSquare Wealth Management LLC boosted its position in Broadcom Limited by 38.0% in the first quarter. AllSquare Wealth Management LLC now owns 483 shares of the semiconductor manufacturer’s stock worth $106,000 after buying an additional 133 shares during the period. Crestwood Advisors Group LLC bought a new position in Broadcom Limited during the first quarter worth approximately $111,000. Archford Capital Strategies LLC boosted its position in Broadcom Limited by 45.4% in the first quarter. Archford Capital Strategies LLC now owns 538 shares of the semiconductor manufacturer’s stock worth $118,000 after buying an additional 168 shares during the period. Finally, Kistler Tiffany Companies LLC boosted its position in Broadcom Limited by 25.1% in the first quarter. Kistler Tiffany Companies LLC now owns 688 shares of the semiconductor manufacturer’s stock worth $151,000 after buying an additional 138 shares during the period. 90.60% of the stock is owned by hedge funds and other institutional investors.
Broadcom Limited (NASDAQ AVGO) opened at 249.17 on Monday. Broadcom Limited has a 12-month low of $158.75 and a 12-month high of $258.49. The company’s market capitalization is $101.31 billion. The firm’s 50 day moving average price is $244.11 and its 200-day moving average price is $226.01.
Broadcom Limited (NASDAQ:AVGO) last posted its earnings results on Thursday, June 1st. The semiconductor manufacturer reported $3.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.50 by $0.19. Broadcom Limited had a positive return on equity of 24.15% and a negative net margin of 1.54%. The firm had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.11 billion. During the same period in the previous year, the firm earned $2.53 earnings per share. The business’s revenue was up 17.9% compared to the same quarter last year. On average, equities analysts anticipate that Broadcom Limited will post $15.78 earnings per share for the current fiscal year.
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AVGO has been the subject of a number of research analyst reports. Craig Hallum lifted their price objective on shares of Broadcom Limited from $260.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, June 2nd. Loop Capital reaffirmed a “buy” rating and set a $270.00 price objective (up from $251.00) on shares of Broadcom Limited in a research report on Thursday, June 1st. Deutsche Bank AG reissued a “buy” rating and issued a $275.00 target price (up previously from $255.00) on shares of Broadcom Limited in a research report on Thursday, June 1st. Rosenblatt Securities reissued a “buy” rating and issued a $260.00 target price on shares of Broadcom Limited in a research report on Wednesday, May 31st. Finally, B. Riley reissued a “buy” rating and issued a $305.00 target price on shares of Broadcom Limited in a research report on Tuesday, May 30th. Two equities research analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and two have given a strong buy rating to the company. Broadcom Limited presently has an average rating of “Buy” and a consensus target price of $263.29.
In related news, SVP Bryan Ingram sold 10,000 shares of Broadcom Limited stock in a transaction that occurred on Thursday, June 22nd. The stock was 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 this link. Also, insider Kirsten M. Spears sold 1,306 shares of Broadcom Limited stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $254.15, for a total value of $331,919.90. The disclosure for this sale can be found here. Insiders have sold 41,306 shares of company stock worth $10,380,120 over the last 90 days. 3.60% of the stock is currently owned by corporate insiders.
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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