Broadcom Limited (AVGO) Shares Sold by First Commonwealth Financial Corp PA
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.
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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.
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