1ST Source Bank boosted its position in shares of Broadcom Limited (NASDAQ:AVGO) by 133.8% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 3,479 shares of the semiconductor manufacturer’s stock after buying an additional 1,991 shares during the period. 1ST Source Bank’s holdings in Broadcom Limited were worth $811,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake 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 worth $5,861,217,000 after buying an additional 1,746,144 shares during the last quarter. BlackRock Inc. raised 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 period. State Street Corp raised 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 period. Wellington Management Group LLP raised 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 period. Finally, Jennison Associates LLC raised 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 period. 90.60% of the stock is owned by hedge funds and other institutional investors.
Broadcom Limited (NASDAQ AVGO) traded up 1.44% on Friday, reaching $244.17. The company’s stock had a trading volume of 1,697,612 shares. Broadcom Limited has a 12 month low of $158.75 and a 12 month high of $258.49. The firm’s market cap is $99.28 billion. The firm’s 50 day moving average is $245.90 and its 200-day moving average is $228.73.
Broadcom Limited (NASDAQ:AVGO) last issued its earnings results on Thursday, June 1st. The semiconductor manufacturer reported $3.69 earnings per share for the quarter, beating 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 firm had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.11 billion. During the same quarter last year, the business posted $2.53 earnings per share. The company’s quarterly revenue was up 17.9% on a year-over-year basis. On average, equities research analysts anticipate that Broadcom Limited will post $15.78 EPS for the current year.
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AVGO has been the topic of several recent research reports. Morgan Stanley restated an “overweight” rating and set a $265.00 target price (up from $245.00) on shares of Broadcom Limited in a report on Thursday, May 25th. Pacific Crest restated an “overweight” rating and set a $260.00 target price on shares of Broadcom Limited in a report on Wednesday, May 31st. Zacks Investment Research lowered Broadcom Limited from a “buy” rating to a “hold” rating in a report on Tuesday, May 2nd. Deutsche Bank AG restated a “buy” rating and set a $275.00 target price (up from $255.00) on shares of Broadcom Limited in a report on Thursday, June 1st. Finally, Sanford C. Bernstein restated an “outperform” rating and set a $285.00 target price (up from $265.00) on shares of Broadcom Limited in a report on Saturday, June 3rd. One equities research analyst has rated the stock with a hold rating, thirty-seven have issued a buy rating and one has assigned a strong buy rating to the company. Broadcom Limited has an average rating of “Buy” and an average target price of $263.22.
In other news, insider Kirsten M. Spears sold 1,306 shares of Broadcom Limited 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Bryan Ingram sold 30,000 shares of Broadcom Limited stock in a transaction on Thursday, June 8th. The stock was 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. Insiders sold 41,306 shares of company stock worth $10,380,120 in the last 90 days. Company 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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