Arizona State Retirement System raised its stake in shares of Broadcom Limited (NASDAQ:AVGO) by 0.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,555 shares of the semiconductor manufacturer’s stock after buying an additional 300 shares during the period. Arizona State Retirement System’s holdings in Broadcom Limited were worth $23,201,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. National Planning Corp acquired a new position in shares of Broadcom Limited during the second quarter valued at about $370,000. Bank of The Ozarks acquired a new position in shares of Broadcom Limited during the second quarter valued at about $639,000. Schwab Charles Investment Management Inc. raised its position in shares of Broadcom Limited by 3.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,233,216 shares of the semiconductor manufacturer’s stock valued at $287,401,000 after buying an additional 46,395 shares during the last quarter. Wetherby Asset Management Inc. raised its position in Broadcom Limited by 16.1% in the second quarter. Wetherby Asset Management Inc. now owns 5,384 shares of the semiconductor manufacturer’s stock valued at $1,255,000 after buying an additional 745 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its position in Broadcom Limited by 992.9% in the second quarter. Canada Pension Plan Investment Board now owns 368,444 shares of the semiconductor manufacturer’s stock valued at $85,866,000 after buying an additional 334,731 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors.

Shares of Broadcom Limited (NASDAQ AVGO) opened at 244.17 on Friday. The stock’s market cap is $99.28 billion. Broadcom Limited has a 52 week low of $158.75 and a 52 week high of $258.49. The company’s 50-day moving average is $245.90 and its 200 day moving average is $228.73.

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, topping analysts’ consensus estimates 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%. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.53 earnings per share. Analysts forecast that Broadcom Limited will post $15.78 earnings per share for the current fiscal year.

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Several research firms have issued reports on AVGO. B. Riley reaffirmed a “buy” rating and issued a $305.00 price target on shares of Broadcom Limited in a report on Tuesday, May 30th. UBS AG reaffirmed a “buy” rating and issued a $265.00 price target (up from $245.00) on shares of Broadcom Limited in a report on Monday, June 5th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $270.00 price target on shares of Broadcom Limited in a report on Friday. BidaskClub lowered shares of Broadcom Limited from a “strong-buy” rating to a “buy” rating in a report on Friday. Finally, Vetr raised shares of Broadcom Limited from a “hold” rating to a “buy” rating and set a $258.25 price target on the stock in a report on Monday. One investment analyst has rated the stock with a hold rating, thirty-seven have given a buy rating and one has assigned a strong buy rating to the stock. Broadcom Limited presently has a consensus rating of “Buy” and an average target price of $263.22.

In other Broadcom Limited news, SVP Bryan Ingram sold 10,000 shares of Broadcom Limited stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $244.59, for a total transaction of $2,445,900.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kirsten M. Spears sold 1,306 shares of Broadcom Limited stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $254.15, for a total transaction of $331,919.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,306 shares of company stock valued at $10,380,120. 3.60% of the stock is currently owned by company insiders.

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

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