Bp Plc reduced its position in shares of Broadcom Limited (NASDAQ:AVGO) by 6.3% during the second quarter, Holdings Channel reports. The firm owned 45,000 shares of the semiconductor manufacturer’s stock after selling 3,000 shares during the period. Bp Plc’s holdings in Broadcom Limited were worth $10,484,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Advisor Partners LLC boosted its stake in shares of Broadcom Limited by 10.0% in the second quarter. Advisor Partners LLC now owns 5,885 shares of the semiconductor manufacturer’s stock worth $1,372,000 after buying an additional 537 shares during the period. Davis R M Inc. boosted its stake in shares of Broadcom Limited by 4.7% in the second quarter. Davis R M Inc. now owns 1,814 shares of the semiconductor manufacturer’s stock worth $423,000 after buying an additional 81 shares during the period. IFP Advisors Inc boosted its stake in shares of Broadcom Limited by 13.4% in the second quarter. IFP Advisors Inc now owns 2,169 shares of the semiconductor manufacturer’s stock worth $506,000 after buying an additional 257 shares during the period. Eagle Ridge Investment Management boosted its stake in shares of Broadcom Limited by 2.7% in the second quarter. Eagle Ridge Investment Management now owns 32,574 shares of the semiconductor manufacturer’s stock worth $7,591,000 after buying an additional 863 shares during the period. Finally, Smithfield Trust Co. boosted its stake in shares of Broadcom Limited by 5.4% in the second quarter. Smithfield Trust Co. now owns 1,447 shares of the semiconductor manufacturer’s stock worth $337,000 after buying an additional 74 shares during the period. 90.60% of the stock is owned by institutional investors.

Broadcom Limited (NASDAQ:AVGO) opened at 249.17 on Thursday. The firm’s 50-day moving average price is $246.02 and its 200 day moving average price is $228.26. The company’s market cap is $101.31 billion. Broadcom Limited has a 52-week low of $158.75 and a 52-week high of $258.49.

Broadcom Limited (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, June 1st. The semiconductor manufacturer reported $3.69 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.11 billion. During the same quarter in the prior year, the firm earned $2.53 EPS. The business’s revenue for the quarter was up 17.9% compared to the same quarter last year. On average, equities analysts predict that Broadcom Limited will post $15.78 EPS for the current fiscal year.

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A number of analysts have recently commented on the company. Vetr cut Broadcom Limited from a “buy” rating to a “hold” rating and set a $258.25 price target for the company. in a research note on Tuesday. Morgan Stanley increased their target price on Broadcom Limited from $280.00 to $290.00 and gave the stock an “overweight” rating in a research note on Monday, July 17th. KeyCorp reissued an “overweight” rating and set a $280.00 target price on shares of Broadcom Limited in a research note on Wednesday, July 12th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $285.00 target price on shares of Broadcom Limited in a research note on Wednesday, July 12th. Finally, Mizuho reissued a “buy” rating and set a $275.00 target price on shares of Broadcom Limited in a research note on Monday, July 3rd. Two analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $263.22.

In other news, SVP Bryan Ingram sold 10,000 shares of the company’s stock in a transaction on Thursday, June 22nd. The stock was 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 SEC, which is accessible through this link. Also, insider Kirsten M. Spears sold 1,306 shares of the company’s stock in a transaction on Thursday, June 8th. The shares were 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 have sold a total of 41,306 shares of company stock worth $10,380,120 in the last ninety days. Insiders own 3.60% of the company’s stock.

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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