Gateway Investment Advisers LLC reduced its position in shares of Broadcom Limited (NASDAQ:AVGO) by 0.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 62,033 shares of the semiconductor manufacturer’s stock after selling 200 shares during the period. Gateway Investment Advisers LLC’s holdings in Broadcom Limited were worth $14,457,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Appleton Partners Inc. MA boosted its position in shares of Broadcom Limited by 14.1% in the second quarter. Appleton Partners Inc. MA now owns 21,415 shares of the semiconductor manufacturer’s stock worth $4,991,000 after buying an additional 2,639 shares during the period. Central Bank & Trust Co. boosted its position in shares of Broadcom Limited by 361.0% in the second quarter. Central Bank & Trust Co. now owns 20,631 shares of the semiconductor manufacturer’s stock worth $4,808,000 after buying an additional 16,156 shares during the period. Private Trust Co. NA boosted its position in shares of Broadcom Limited by 0.7% in the second quarter. Private Trust Co. NA now owns 1,977 shares of the semiconductor manufacturer’s stock worth $460,000 after buying an additional 13 shares during the period. Heritage Investors Management Corp acquired a new position in shares of Broadcom Limited during the second quarter worth $467,000. Finally, Atria Investments LLC boosted its position in shares of Broadcom Limited by 29.3% in the second quarter. Atria Investments LLC now owns 5,338 shares of the semiconductor manufacturer’s stock worth $1,244,000 after buying an additional 1,209 shares during the period. 90.94% of the stock is owned by institutional investors.
Broadcom Limited (NASDAQ:AVGO) traded down 2.55% during trading on Thursday, hitting $246.95. 2,278,870 shares of the stock were exchanged. The firm has a 50-day moving average of $246.89 and a 200-day moving average of $230.00. The stock’s market capitalization is $100.41 billion. Broadcom Limited has a 52 week low of $158.75 and a 52 week high of $258.49. Broadcom Limited also saw some unusual options trading activity on Monday. Investors purchased 10,775 call options on the company. This is an increase of approximately 177% compared to the typical volume of 3,886 call options.
Broadcom Limited (NASDAQ:AVGO) last announced its earnings results on Thursday, June 1st. The semiconductor manufacturer reported $3.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.50 by $0.19. The company 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%. Broadcom Limited’s quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.53 earnings per share. Equities research 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 recent research reports. Morgan Stanley reissued an “overweight” rating and set a $265.00 price objective (up from $245.00) on shares of Broadcom Limited in a research note on Thursday, May 25th. Mizuho reissued a “buy” rating and set a $265.00 price objective (up from $250.00) on shares of Broadcom Limited in a research note on Sunday, May 28th. Zacks Investment Research cut shares of Broadcom Limited from a “buy” rating to a “hold” rating in a research note on Tuesday, May 2nd. Pacific Crest reaffirmed an “overweight” rating and issued a $260.00 target price on shares of Broadcom Limited in a research note on Wednesday, May 31st. Finally, Cowen and Company lifted their target price on shares of Broadcom Limited from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, June 2nd. Two equities research analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $263.22.
In related news, insider Kirsten M. Spears sold 1,306 shares of the stock in a transaction on Thursday, June 8th. The stock was 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 SEC, which can be accessed through this link. Also, SVP Bryan Ingram sold 30,000 shares of the stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $253.41, for a total value of $7,602,300.00. The disclosure for this sale can be found here. Insiders have sold 41,306 shares of company stock valued at $10,380,120 in the last ninety days. 3.60% of the stock is currently owned by company 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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