Advisor Partners LLC boosted its stake in Broadcom Limited (NASDAQ:AVGO) by 10.0% during the second quarter, Holdings Channel reports. The firm owned 5,885 shares of the semiconductor manufacturer’s stock after buying an additional 537 shares during the period. Advisor Partners LLC’s holdings in Broadcom Limited were worth $1,372,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tompkins Financial Corp raised its position in Broadcom Limited by 10.1% in the first quarter. Tompkins Financial Corp now owns 2,885 shares of the semiconductor manufacturer’s stock valued at $446,000 after buying an additional 265 shares during the period. Capital City Trust Co. FL raised its position in Broadcom Limited by 21.2% in the first quarter. Capital City Trust Co. FL now owns 3,977 shares of the semiconductor manufacturer’s stock valued at $871,000 after buying an additional 696 shares during the period. Atria Investments LLC raised its position in Broadcom Limited by 135.4% in the first quarter. Atria Investments LLC now owns 4,129 shares of the semiconductor manufacturer’s stock valued at $904,000 after buying an additional 2,375 shares during the period. American National Bank raised its position in Broadcom Limited by 125,580.0% in the first quarter. American National Bank now owns 12,568 shares of the semiconductor manufacturer’s stock valued at $2,752,000 after buying an additional 12,558 shares during the period. Finally, BKD Wealth Advisors LLC raised its position in Broadcom Limited by 2.1% in the first quarter. BKD Wealth Advisors LLC now owns 2,361 shares of the semiconductor manufacturer’s stock valued at $517,000 after buying an additional 48 shares during the period. 90.60% of the stock is currently owned by institutional investors.

Broadcom Limited (AVGO) opened at 249.17 on Thursday. The company has a 50-day moving average price of $246.02 and a 200 day moving average price of $228.26. The firm’s market capitalization is $101.31 billion. Broadcom Limited has a 1-year low of $158.75 and a 1-year high of $258.49.

Broadcom Limited (NASDAQ:AVGO) last issued its earnings results on Thursday, June 1st. The semiconductor manufacturer reported $3.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.50 by $0.19. The business had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.11 billion. Broadcom Limited had a positive return on equity of 24.15% and a negative net margin of 1.54%. Broadcom Limited’s revenue was up 17.9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.53 earnings per share. Equities analysts anticipate that Broadcom Limited will post $15.78 earnings per share for the current year.

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Several research analysts have commented on the company. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $275.00 price target (up previously from $240.00) on shares of Broadcom Limited in a research report on Friday, June 2nd. MKM Partners reaffirmed a “buy” rating and set a $261.00 price target (up previously from $250.00) on shares of Broadcom Limited in a research report on Friday, June 2nd. Canaccord Genuity reaffirmed a “buy” rating and set a $272.00 price target (up previously from $250.00) on shares of Broadcom Limited in a research report on Saturday, June 3rd. Morgan Stanley reaffirmed an “overweight” rating and set a $280.00 price target (up previously from $265.00) on shares of Broadcom Limited in a research report on Saturday, June 3rd. Finally, Mizuho reaffirmed a “buy” rating and set a $275.00 price target (up previously from $265.00) on shares of Broadcom Limited in a research report on Saturday, June 3rd. Two analysts have rated the stock with a hold rating, thirty-four have given a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $263.22.

In other news, insider Kirsten M. Spears sold 1,306 shares of the firm’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Bryan Ingram sold 30,000 shares of the firm’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $253.41, for a total value of $7,602,300.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,306 shares of company stock valued at $10,380,120. 3.60% of the stock is currently owned by insiders.

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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