Northern Trust Corp Grows Position in Broadcom Limited (AVGO)

Northern Trust Corp increased its position in shares of Broadcom Limited (NASDAQ:AVGO) by 0.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,366,289 shares of the semiconductor manufacturer’s stock after buying an additional 20,453 shares during the quarter. Northern Trust Corp owned about 1.07% of Broadcom Limited worth $1,017,564,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in shares of Broadcom Limited by 2,707.3% in the 1st quarter. BlackRock Inc. now owns 23,131,935 shares of the semiconductor manufacturer’s stock valued at $5,064,971,000 after purchasing an additional 22,307,935 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Broadcom Limited by 7.0% in the 1st quarter. Vanguard Group Inc. now owns 26,768,435 shares of the semiconductor manufacturer’s stock valued at $5,861,217,000 after purchasing an additional 1,746,144 shares during the last quarter. Harbour Capital Advisors LLC grew its stake in shares of Broadcom Limited by 22,924.6% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,530,905 shares of the semiconductor manufacturer’s stock valued at $6,569,000 after purchasing an additional 1,524,256 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Broadcom Limited by 29.3% in the 1st quarter. Wellington Management Group LLP now owns 6,710,760 shares of the semiconductor manufacturer’s stock valued at $1,469,388,000 after purchasing an additional 1,519,598 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of Broadcom Limited by 18.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,704,177 shares of the semiconductor manufacturer’s stock valued at $2,028,442,000 after purchasing an additional 1,338,695 shares during the last quarter. Hedge funds and other institutional investors own 89.70% of the company’s stock.

Several brokerages have weighed in on AVGO. B. Riley reiterated a “buy” rating and issued a $305.00 target price on shares of Broadcom Limited in a research note on Tuesday, May 30th. UBS AG reiterated a “buy” rating and issued a $265.00 target price (up from $245.00) on shares of Broadcom Limited in a research note on Monday, June 5th. Cowen and Company reiterated a “buy” rating and issued a $260.00 target price on shares of Broadcom Limited in a research note on Friday, August 11th. Craig Hallum reiterated a “buy” rating on shares of Broadcom Limited in a research note on Wednesday, September 13th. Finally, Pacific Crest reiterated an “overweight” rating and issued a $280.00 target price on shares of Broadcom Limited in a research note on Wednesday, June 21st. Two research analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and two have issued a strong buy rating to the company’s stock. Broadcom Limited currently has an average rating of “Buy” and a consensus price target of $274.48.

In other news, SVP Bryan Ingram sold 30,000 shares of the company’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $244.01, for a total value of $7,320,300.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Hock E. Tan sold 20,000 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $246.48, for a total transaction of $4,929,600.00. The disclosure for this sale can be found here. Insiders sold 61,788 shares of company stock worth $15,137,937 over the last ninety days. 3.60% of the stock is currently owned by company insiders.

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Shares of Broadcom Limited (NASDAQ AVGO) traded down 3.141% during midday trading on Wednesday, hitting $241.914. The stock had a trading volume of 1,866,141 shares. Broadcom Limited has a 12-month low of $160.62 and a 12-month high of $259.36. The firm has a market cap of $98.70 billion, a price-to-earnings ratio of 184.245 and a beta of 1.07. The company’s 50-day moving average price is $249.11 and its 200-day moving average price is $236.86.

Broadcom Limited (NASDAQ:AVGO) last released its earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.03 by $0.07. The company had revenue of $4.47 billion during the quarter, compared to analyst estimates of $4.46 billion. Broadcom Limited had a return on equity of 26.82% and a net margin of 3.12%. The company’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.89 earnings per share. Equities research analysts forecast that Broadcom Limited will post $15.92 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Tuesday, September 19th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend is Monday, September 18th. Broadcom Limited’s dividend payout ratio (DPR) is presently 348.72%.

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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Institutional Ownership by Quarter for Broadcom Limited (NASDAQ:AVGO)

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