Broadcom Limited (AVGO) Holdings Trimmed by Capital World Investors
Capital World Investors trimmed its position in shares of Broadcom Limited (NASDAQ:AVGO) by 11.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,388,816 shares of the semiconductor manufacturer’s stock after selling 5,530,416 shares during the period. Broadcom Limited makes up 2.4% of Capital World Investors’ portfolio, making the stock its 4th biggest holding. Capital World Investors owned approximately 10.67% of Broadcom Limited worth $10,111,764,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Peapack Gladstone Financial Corp increased its stake in shares of Broadcom Limited by 0.4% in the first quarter. Peapack Gladstone Financial Corp now owns 2,148 shares of the semiconductor manufacturer’s stock worth $470,000 after purchasing an additional 9 shares during the period. Spectrum Management Group Inc. lifted its position in shares of Broadcom Limited by 0.4% during the 2nd quarter. Spectrum Management Group Inc. now owns 2,365 shares of the semiconductor manufacturer’s stock worth $551,000 after purchasing an additional 10 shares during the last quarter. Private Trust Co. NA lifted its position in shares of Broadcom Limited by 0.7% during the 2nd quarter. Private Trust Co. NA now owns 1,977 shares of the semiconductor manufacturer’s stock worth $460,000 after purchasing an additional 13 shares during the last quarter. IHT Wealth Management LLC lifted its position in shares of Broadcom Limited by 1.4% during the 1st quarter. IHT Wealth Management LLC now owns 1,094 shares of the semiconductor manufacturer’s stock worth $238,000 after purchasing an additional 15 shares during the last quarter. Finally, CWA Asset Management Group LLC lifted its position in shares of Broadcom Limited by 0.9% during the 2nd quarter. CWA Asset Management Group LLC now owns 1,917 shares of the semiconductor manufacturer’s stock worth $447,000 after purchasing an additional 17 shares during the last quarter. Institutional investors own 89.71% of the company’s stock.
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Broadcom Limited (AVGO) traded down 0.22% during trading on Monday, reaching $242.01. The company’s stock had a trading volume of 595,832 shares. The company’s 50-day moving average is $249.11 and its 200-day moving average is $236.86. Broadcom Limited has a 12 month low of $160.62 and a 12 month high of $259.36. The stock has a market cap of $98.74 billion, a PE ratio of 184.32 and a beta of 1.08.
Broadcom Limited (NASDAQ:AVGO) last issued its earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.03 by $0.07. Broadcom Limited had a return on equity of 26.82% and a net margin of 3.12%. The company had revenue of $4.47 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same period last year, the business posted $2.89 EPS. The firm’s revenue for the quarter was up 17.5% compared to the same quarter last year. Equities analysts expect that Broadcom Limited will post $15.91 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Tuesday, September 19th were issued a $1.02 dividend. The ex-dividend date was Monday, September 18th. This represents a $4.08 annualized dividend and a yield of 1.68%. Broadcom Limited’s payout ratio is currently 348.72%.
Several analysts recently weighed in on the company. B. Riley restated a “buy” rating and set a $305.00 target price on shares of Broadcom Limited in a research note on Sunday, June 4th. UBS AG reiterated a “buy” rating and set a $265.00 price target (up from $245.00) on shares of Broadcom Limited in a report on Monday, June 5th. Macquarie reaffirmed an “outperform” rating and set a $280.00 target price (up previously from $265.00) on shares of Broadcom Limited in a research report on Monday, June 5th. Instinet boosted their target price on shares of Broadcom Limited from $260.00 to $275.00 and gave the stock a “buy” rating in a research report on Tuesday, June 6th. Finally, Zacks Investment Research upgraded shares of Broadcom Limited from a “hold” rating to a “buy” rating and set a $282.00 target price for the company in a research note on Wednesday, June 7th. One equities research analyst has rated the stock with a hold rating, thirty have given a buy rating and four have given a strong buy rating to the company. Broadcom Limited currently has a consensus rating of “Buy” and a consensus target price of $276.80.
In related news, SVP Charlie B. Kawwas sold 1,788 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $247.28, for a total value of $442,136.64. 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, September 14th. The stock was sold at an average price of $244.01, for a total value of $7,320,300.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,788 shares of company stock worth $12,692,037. Corporate insiders own 3.60% of the company’s stock.
Broadcom Limited 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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