Emerald Advisers Inc. PA lowered its stake in Broadcom Limited (NASDAQ:AVGO) by 34.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,221 shares of the semiconductor manufacturer’s stock after selling 5,467 shares during the period. Emerald Advisers Inc. PA’s holdings in Broadcom Limited were worth $2,382,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of AVGO. Vanguard Group Inc. increased its position in Broadcom Limited by 7.0% in the first quarter. Vanguard Group Inc. now owns 26,768,435 shares of the semiconductor manufacturer’s stock valued at $5,861,217,000 after buying an additional 1,746,144 shares during the last quarter. BlackRock Inc. increased its position in Broadcom Limited by 2,707.3% in the first quarter. BlackRock Inc. now owns 23,131,935 shares of the semiconductor manufacturer’s stock valued at $5,064,971,000 after buying an additional 22,307,935 shares during the last quarter. State Street Corp increased its position in Broadcom Limited by 3.8% in the first quarter. State Street Corp now owns 15,805,653 shares of the semiconductor manufacturer’s stock valued at $3,460,804,000 after buying an additional 583,498 shares during the last quarter. Wellington Management Group LLP increased its position in Broadcom Limited by 29.3% in the first quarter. Wellington Management Group LLP now owns 6,710,760 shares of the semiconductor manufacturer’s stock valued at $1,469,388,000 after buying an additional 1,519,598 shares during the last quarter. Finally, Jennison Associates LLC increased its position in Broadcom Limited by 904.2% in the first quarter. Jennison Associates LLC now owns 4,201,357 shares of the semiconductor manufacturer’s stock valued at $919,929,000 after buying an additional 3,782,991 shares during the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Broadcom Limited (NASDAQ AVGO) opened at 249.17 on Monday. The company has a 50 day moving average of $244.11 and a 200-day moving average of $226.01. The firm’s market cap is $101.31 billion. Broadcom Limited has a one year low of $158.75 and a one year high of $258.49.
Broadcom Limited (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, June 1st. The semiconductor manufacturer reported $3.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.50 by $0.19. The business had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.11 billion. Broadcom Limited had a negative net margin of 1.54% and a positive return on equity of 24.15%. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.53 EPS. On average, analysts expect that Broadcom Limited will post $15.78 EPS for the current year.
AVGO has been the subject of a number of recent analyst reports. Rosenblatt Securities restated a “buy” rating and set a $260.00 price target on shares of Broadcom Limited in a report on Wednesday, May 31st. Instinet restated a “buy” rating and set a $260.00 price target (up from $230.00) on shares of Broadcom Limited in a report on Wednesday, May 17th. UBS AG restated a “buy” rating and set a $265.00 price target on shares of Broadcom Limited in a report on Monday, June 26th. Sanford C. Bernstein restated an “outperform” rating and set a $285.00 price target (up from $265.00) on shares of Broadcom Limited in a report on Saturday, June 3rd. Finally, Canaccord Genuity restated a “buy” rating and set a $272.00 price target (up from $250.00) on shares of Broadcom Limited in a report on Saturday, June 3rd. Two investment analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and two have issued a strong buy rating to the stock. Broadcom Limited has an average rating of “Buy” and an average price target of $263.29.
In other Broadcom Limited news, insider Kirsten M. Spears sold 1,306 shares of the company’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Bryan Ingram sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $253.41, for a total transaction of $7,602,300.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,306 shares of company stock valued at $10,380,120. 3.60% of the stock is 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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