Naples Global Advisors LLC boosted its position in shares of Broadcom Limited (NASDAQ:AVGO) by 0.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,654 shares of the semiconductor manufacturer’s stock after buying an additional 85 shares during the period. Broadcom Limited accounts for about 0.8% of Naples Global Advisors LLC’s portfolio, making the stock its 25th largest position. Naples Global Advisors LLC’s holdings in Broadcom Limited were worth $2,250,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FNY Managed Accounts LLC purchased a new position in shares of Broadcom Limited during the first quarter worth $100,000. AllSquare Wealth Management LLC increased its stake in shares of 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 stake in shares of Broadcom Limited during the first quarter worth about $111,000. Archford Capital Strategies LLC increased its stake in shares of 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, D. Scott Neal Inc. bought a new stake in shares of Broadcom Limited during the second quarter worth about $127,000. Institutional investors own 90.94% of the company’s stock.
Shares of Broadcom Limited (AVGO) traded up 0.98% during mid-day trading on Friday, hitting $249.37. The stock had a trading volume of 2,013,172 shares. Broadcom Limited has a 12-month low of $158.75 and a 12-month high of $258.49. The company has a 50 day moving average price of $247.49 and a 200 day moving average price of $230.46. The firm’s market cap is $101.39 billion.
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, beating the 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 company had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.11 billion. During the same period last year, the firm earned $2.53 EPS. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. Equities analysts forecast 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. Craig Hallum raised their target price on Broadcom Limited from $260.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, June 2nd. Loop Capital reissued 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 set a $275.00 price objective (up from $255.00) on shares of Broadcom Limited in a research report on Thursday, June 1st. Rosenblatt Securities reissued a “buy” rating and set a $260.00 price objective on shares of Broadcom Limited in a research report on Wednesday, May 31st. Finally, B. Riley reissued a “buy” rating and set a $305.00 price objective 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-six have given a buy rating and one has given a strong buy rating to the company’s stock. Broadcom Limited has a consensus rating of “Buy” and a consensus target price of $263.22.
In related news, SVP Bryan Ingram sold 10,000 shares of Broadcom Limited stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $244.59, for a total value of $2,445,900.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Kirsten M. Spears sold 1,306 shares of Broadcom Limited 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 disclosure for this sale can be found here. Insiders sold a total of 41,306 shares of company stock worth $10,380,120 over the last 90 days. Insiders own 3.60% of the company’s stock.
About Broadcom Limited
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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