HL Financial Services LLC cut its position in Broadcom Limited (NASDAQ:AVGO) by 1.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,006 shares of the semiconductor manufacturer’s stock after selling 47 shares during the period. HL Financial Services LLC’s holdings in Broadcom Limited were worth $934,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Everence Capital Management Inc. bought a new position in shares of Broadcom Limited during the first quarter worth approximately $1,771,000. Bank of The West raised its position in shares of Broadcom Limited by 0.9% in the first quarter. Bank of The West now owns 37,113 shares of the semiconductor manufacturer’s stock worth $8,126,000 after buying an additional 332 shares during the last quarter. Telemus Capital LLC raised its position in shares of Broadcom Limited by 5.7% in the first quarter. Telemus Capital LLC now owns 15,962 shares of the semiconductor manufacturer’s stock worth $3,495,000 after buying an additional 863 shares during the last quarter. Tompkins Financial Corp raised its position in shares of Broadcom Limited by 10.1% in the first quarter. Tompkins Financial Corp now owns 2,885 shares of the semiconductor manufacturer’s stock worth $446,000 after buying an additional 265 shares during the last quarter. Finally, Capital City Trust Co. FL raised its position in shares of Broadcom Limited by 21.2% in the first quarter. Capital City Trust Co. FL now owns 3,977 shares of the semiconductor manufacturer’s stock worth $871,000 after buying an additional 696 shares during the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Broadcom Limited (NASDAQ:AVGO) opened at 244.17 on Friday. The company’s market capitalization is $99.28 billion. Broadcom Limited has a 1-year low of $158.75 and a 1-year high of $258.49. The firm’s 50-day moving average is $245.90 and its 200-day moving average is $228.73.

Broadcom Limited (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, June 1st. The semiconductor manufacturer reported $3.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.50 by $0.19. The business had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.11 billion. Broadcom Limited had a negative net margin of 1.54% and a positive return on equity of 24.15%. The company’s quarterly revenue was up 17.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.53 earnings per share. Analysts forecast that Broadcom Limited will post $15.78 earnings per share for the current fiscal year.

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A number of equities analysts have recently commented on the stock. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $275.00 price target (up previously from $240.00) on shares of Broadcom Limited in a report on Friday, June 2nd. MKM Partners reissued a “buy” rating and issued a $261.00 price target (up previously from $250.00) on shares of Broadcom Limited in a report on Friday, June 2nd. Canaccord Genuity reissued a “buy” rating and issued a $272.00 price target (up previously from $250.00) on shares of Broadcom Limited in a report on Saturday, June 3rd. Morgan Stanley reissued an “overweight” rating and issued a $280.00 price target (up previously from $265.00) on shares of Broadcom Limited in a report on Saturday, June 3rd. Finally, Mizuho reissued a “buy” rating and issued a $275.00 price target (up previously from $265.00) on shares of Broadcom Limited in a report on Saturday, June 3rd. One analyst has rated the stock with a hold rating, thirty-seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $263.22.

In related news, SVP Bryan Ingram sold 30,000 shares of the stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $253.41, for a total value of $7,602,300.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kirsten M. Spears sold 1,306 shares of the stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $254.15, for a total transaction of $331,919.90. The disclosure for this sale can be found here. Insiders sold a total of 41,306 shares of company stock valued at $10,380,120 over the last ninety days. 3.60% of the stock is currently owned by 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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