BKS Advisors LLC raised its position in Broadcom Limited (NASDAQ:AVGO) by 10.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,422 shares of the semiconductor manufacturer’s stock after buying an additional 2,800 shares during the period. Broadcom Limited accounts for about 2.9% of BKS Advisors LLC’s holdings, making the stock its 2nd largest position. BKS Advisors LLC’s holdings in Broadcom Limited were worth $7,090,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. State of Alaska Department of Revenue purchased a new stake in Broadcom Limited during the first quarter valued at about $229,000. Waldron LP purchased a new stake in Broadcom Limited during the first quarter valued at about $302,000. Financial Architects Inc raised its stake in Broadcom Limited by 13.2% in the first quarter. Financial Architects Inc now owns 2,592 shares of the semiconductor manufacturer’s stock valued at $567,000 after buying an additional 302 shares during the period. IFP Advisors Inc raised its stake in Broadcom Limited by 16.2% in the first quarter. IFP Advisors Inc now owns 1,912 shares of the semiconductor manufacturer’s stock valued at $419,000 after buying an additional 266 shares during the period. Finally, iAB Financial Bank raised its stake in Broadcom Limited by 45.1% in the first quarter. iAB Financial Bank now owns 1,690 shares of the semiconductor manufacturer’s stock valued at $370,000 after buying an additional 525 shares during the period. 90.03% of the stock is owned by institutional investors and hedge funds.

Shares of Broadcom Limited (AVGO) opened at 241.73 on Wednesday. Broadcom Limited has a 52 week low of $158.75 and a 52 week high of $259.36. The firm has a market capitalization of $98.38 billion, a PE ratio of 184.11 and a beta of 1.05. The firm’s 50-day moving average is $249.87 and its 200 day moving average is $232.19.

Broadcom Limited (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $4.46 billion. During the same quarter in the prior year, the business posted $2.89 earnings per share. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. On average, equities analysts forecast that Broadcom Limited will post $15.92 earnings per share for the current year.

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Several research firms have recently issued reports on AVGO. KeyCorp restated an “overweight” rating and issued a $280.00 target price on shares of Broadcom Limited in a report on Wednesday, August 23rd. Rosenblatt Securities restated a “buy” rating and issued a $270.00 target price on shares of Broadcom Limited in a report on Wednesday, August 23rd. UBS AG restated an “overweight” rating on shares of Broadcom Limited in a report on Thursday, August 24th. Loop Capital restated a “buy” rating and issued a $302.00 target price on shares of Broadcom Limited in a report on Friday, August 25th. Finally, Robert W. Baird restated an “outperform” rating and issued a $290.00 target price (up previously from $260.00) on shares of Broadcom Limited in a report on Friday, August 25th. One equities research analyst has rated the stock with a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $268.12.

In other news, SVP Bryan Ingram sold 10,000 shares of the stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $244.59, for a total value of $2,445,900.00. The transaction 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 the 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 disclosure for this sale can be found here. In the last three months, insiders sold 41,306 shares of company stock valued at $10,380,120. Company 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.

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

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