First Commonwealth Financial Corp PA lowered its stake in Broadcom Limited (NASDAQ:AVGO) by 16.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,706 shares of the semiconductor manufacturer’s stock after selling 735 shares during the quarter. First Commonwealth Financial Corp PA’s holdings in Broadcom Limited were worth $864,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FNY Managed Accounts LLC bought a new position in Broadcom Limited in the 1st quarter worth about $100,000. Shine Investment Advisory Services Inc. bought a new position in Broadcom Limited in the 2nd quarter worth about $116,000. Archford Capital Strategies LLC boosted 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 purchasing an additional 168 shares during the period. D. Scott Neal Inc. bought a new position in Broadcom Limited in the 2nd quarter worth about $127,000. Finally, Catamount Wealth Management bought a new position in Broadcom Limited in the 2nd quarter worth about $140,000. Institutional investors and hedge funds own 89.71% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This piece was published by Watch List News and is the sole property of of Watch List News. If you are accessing this piece on another website, it was illegally copied and reposted in violation of international trademark & copyright legislation. The correct version of this piece can be accessed at https://www.watchlistnews.com/broadcom-limited-avgo-shares-sold-by-first-commonwealth-financial-corp-pa/1613085.html.

Broadcom Limited (AVGO) traded up 0.08% on Friday, hitting $243.87. The stock had a trading volume of 559,388 shares. The firm has a market cap of $99.49 billion, a PE ratio of 185.73 and a beta of 1.08. The company has a 50-day moving average price of $245.96 and a 200 day moving average price of $238.20. Broadcom Limited has a 52-week low of $160.62 and a 52-week high of $259.36.

Broadcom Limited (NASDAQ:AVGO) last announced its earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.03 by $0.07. The firm had revenue of $4.47 billion for the quarter, compared to analyst estimates of $4.46 billion. Broadcom Limited had a net margin of 3.12% and a return on equity of 26.82%. Broadcom Limited’s revenue was up 17.5% compared to the same quarter last year. During the same quarter last year, the business earned $2.89 earnings per share. Equities analysts forecast that Broadcom Limited will post $15.91 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Tuesday, September 19th were issued a $1.02 dividend. The ex-dividend date of this dividend was Monday, September 18th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.67%. Broadcom Limited’s dividend payout ratio (DPR) is presently 348.72%.

A number of analysts have recently issued reports on AVGO shares. Bank of America Corporation reiterated a “buy” rating and set a $300.00 price target on shares of Broadcom Limited in a research report on Friday. Morgan Stanley reiterated an “overweight” rating and set a $290.00 price target on shares of Broadcom Limited in a research report on Saturday, September 30th. Vetr upgraded Broadcom Limited from a “buy” rating to a “strong-buy” rating and set a $263.97 price target for the company in a research report on Tuesday, September 26th. Royal Bank Of Canada reiterated a “top pick” rating and set a $285.00 price target on shares of Broadcom Limited in a research report on Monday, September 25th. Finally, Craig Hallum reiterated a “buy” rating on shares of Broadcom Limited in a research report on Wednesday, September 13th. One investment analyst has rated the stock with a hold rating, thirty have assigned a buy rating and four have issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $276.80.

In other Broadcom Limited news, SVP Bryan Ingram sold 30,000 shares of Broadcom Limited stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $244.01, for a total value of $7,320,300.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Charlie B. Kawwas sold 1,788 shares of Broadcom Limited stock in a transaction on Monday, September 11th. The shares were sold at an average price of $247.28, for a total transaction of $442,136.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,788 shares of company stock worth $15,098,237. 3.60% of the stock is owned by company insiders.

About Broadcom Limited

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)

Receive News & Ratings for Broadcom Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom Limited and related companies with Analyst Ratings Network's FREE daily email newsletter.