Broadcom Limited (AVGO) Shares Bought by Monetary Management Group Inc.
Monetary Management Group Inc. increased its position in Broadcom Limited (NASDAQ:AVGO) by 0.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,264 shares of the semiconductor manufacturer’s stock after acquiring an additional 25 shares during the period. Broadcom Limited makes up about 1.6% of Monetary Management Group Inc.’s portfolio, making the stock its 14th biggest holding. Monetary Management Group Inc.’s holdings in Broadcom Limited were worth $4,023,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. FNY Managed Accounts LLC purchased a new position in Broadcom Limited in the 1st quarter worth $100,000. Shine Investment Advisory Services Inc. purchased a new position in Broadcom Limited in the 2nd quarter worth $116,000. Archford Capital Strategies LLC raised its stake in Broadcom Limited by 45.4% in the 1st quarter. Archford Capital Strategies LLC now owns 538 shares of the semiconductor manufacturer’s stock worth $118,000 after acquiring an additional 168 shares during the last quarter. D. Scott Neal Inc. purchased a new position in Broadcom Limited in the 2nd quarter worth $127,000. Finally, Catamount Wealth Management purchased a new position in Broadcom Limited in the 2nd quarter worth $140,000. Institutional investors own 89.71% of the company’s stock.
In related news, SVP Bryan Ingram sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $244.01, for a total transaction of $7,320,300.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Hock E. Tan sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $246.48, for a total transaction of $4,929,600.00. The disclosure for this sale can be found here. Insiders have sold 61,788 shares of company stock worth $15,098,237 in the last three months. Insiders own 3.60% of the company’s stock.
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Broadcom Limited (NASDAQ:AVGO) traded up 0.271% during mid-day trading on Thursday, hitting $242.655. 1,234,454 shares of the stock traded hands. The stock’s 50 day moving average is $246.24 and its 200-day moving average is $238.16. The company has a market cap of $99.00 billion, a price-to-earnings ratio of 184.810 and a beta of 1.08. Broadcom Limited has a 12 month low of $160.62 and a 12 month high of $259.36.
Broadcom Limited (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.03 by $0.07. The business had revenue of $4.47 billion for the quarter, compared to the consensus estimate of $4.46 billion. Broadcom Limited had a net margin of 3.12% and a return on equity of 26.82%. The company’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.89 earnings per share. On average, equities research analysts anticipate that Broadcom Limited will post $15.91 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Tuesday, September 19th were paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend was Monday, September 18th. Broadcom Limited’s payout ratio is 348.72%.
AVGO has been the subject of a number of research analyst reports. Raymond James Financial, Inc. restated a “strong-buy” rating and issued a $300.00 target price on shares of Broadcom Limited in a research note on Friday, June 16th. Pacific Crest restated an “overweight” rating and issued a $280.00 target price on shares of Broadcom Limited in a research note on Wednesday, June 21st. UBS AG restated a “buy” rating and issued a $265.00 target price on shares of Broadcom Limited in a research note on Monday, June 26th. Royal Bank Of Canada restated a “top pick” rating and issued a $270.00 target price on shares of Broadcom Limited in a research note on Friday, June 30th. Finally, Mizuho restated a “buy” rating and issued a $275.00 target price on shares of Broadcom Limited in a research note on Monday, July 3rd. One investment analyst has rated the stock with a hold rating, thirty have given a buy rating and four have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $276.80.
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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