Checchi Capital Advisers LLC lowered its position in Broadcom Limited (NASDAQ:AVGO) by 33.1% during the second quarter, Holdings Channel reports. The fund owned 2,723 shares of the semiconductor manufacturer’s stock after selling 1,350 shares during the period. Checchi Capital Advisers LLC’s holdings in Broadcom Limited were worth $635,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AVGO. Peapack Gladstone Financial Corp raised its position in 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 buying an additional 9 shares during the last quarter. Private Trust Co. NA raised its position in Broadcom Limited by 0.7% in the second quarter. Private Trust Co. NA now owns 1,977 shares of the semiconductor manufacturer’s stock worth $460,000 after buying an additional 13 shares during the last quarter. IHT Wealth Management LLC raised its position in Broadcom Limited by 1.4% in the first quarter. IHT Wealth Management LLC now owns 1,094 shares of the semiconductor manufacturer’s stock worth $238,000 after buying an additional 15 shares during the last quarter. First Heartland Consultants Inc. raised its position in Broadcom Limited by 0.7% in the first quarter. First Heartland Consultants Inc. now owns 3,765 shares of the semiconductor manufacturer’s stock worth $824,000 after buying an additional 25 shares during the last quarter. Finally, Prospera Financial Services Inc raised its position in Broadcom Limited by 2.4% in the second quarter. Prospera Financial Services Inc now owns 1,052 shares of the semiconductor manufacturer’s stock worth $247,000 after buying an additional 25 shares during the last quarter. 90.94% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Broadcom Limited (AVGO) opened at 250.91 on Tuesday. The firm’s market cap is $102.02 billion. The stock’s 50 day moving average price is $246.06 and its 200 day moving average price is $229.49. Broadcom Limited has a one year low of $158.75 and a one year high of $258.49. Broadcom Limited also saw unusually large options trading on Monday. Investors acquired 10,775 call options on the company. This represents an increase of approximately 177% compared to the typical daily volume of 3,886 call options.

Broadcom Limited (NASDAQ:AVGO) last announced its earnings results on Thursday, June 1st. The semiconductor manufacturer reported $3.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.50 by $0.19. The company had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.11 billion. Broadcom Limited had a positive return on equity of 24.15% and a negative net margin of 1.54%. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.53 earnings per share. On average, equities analysts anticipate that Broadcom Limited will post $15.78 earnings per share for the current fiscal year.

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A number of research analysts recently issued reports on the company. B. Riley reaffirmed a “buy” rating and set a $305.00 target price on shares of Broadcom Limited in a report on Tuesday, May 30th. UBS AG reaffirmed a “buy” rating and set a $265.00 target price (up from $245.00) on shares of Broadcom Limited in a report on Monday, June 5th. Cowen and Company reaffirmed a “buy” rating and set a $260.00 target price on shares of Broadcom Limited in a report on Friday. Vetr raised Broadcom Limited from a “hold” rating to a “buy” rating and set a $258.25 target price on the stock in a report on Monday. Finally, Pacific Crest reiterated an “overweight” rating and issued a $280.00 price target on shares of Broadcom Limited in a research report on Wednesday, June 21st. One investment analyst has rated the stock with a hold rating, thirty-seven have given a buy rating and one has given a strong buy rating to the company. Broadcom Limited presently 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 stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $254.15, for a total transaction of $331,919.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Bryan Ingram sold 10,000 shares of the stock in a transaction that occurred 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 41,306 shares of company stock worth $10,380,120. 3.60% of the stock is owned by corporate 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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