DekaBank Deutsche Girozentrale bought a new stake in Broadcom Limited (NASDAQ:AVGO) during the second quarter, according to its most recent filing with the SEC. The firm bought 117,074 shares of the semiconductor manufacturer’s stock, valued at approximately $27,753,000.

Other institutional investors have also bought and sold shares of the company. FNY Managed Accounts LLC acquired a new position in Broadcom Limited during the first quarter valued at approximately $100,000. AllSquare Wealth Management LLC increased its position in Broadcom Limited by 38.0% in the first quarter. AllSquare Wealth Management LLC now owns 483 shares of the semiconductor manufacturer’s stock valued at $106,000 after buying an additional 133 shares during the last quarter. Crestwood Advisors Group LLC acquired a new position in Broadcom Limited during the first quarter valued at approximately $111,000. Shine Investment Advisory Services Inc. acquired a new position in Broadcom Limited during the second quarter valued at approximately $116,000. Finally, Archford Capital Strategies LLC increased its position in Broadcom Limited by 45.4% in the first quarter. Archford Capital Strategies LLC now owns 538 shares of the semiconductor manufacturer’s stock valued at $118,000 after buying an additional 168 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 firm’s market cap is $99.28 billion. Broadcom Limited has a one year low of $158.75 and a one year high of $258.49. The company has a 50 day moving average of $245.90 and a 200-day moving average of $228.73.

Broadcom Limited (NASDAQ:AVGO) last issued its earnings results on Thursday, June 1st. The semiconductor manufacturer reported $3.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.50 by $0.19. The company had revenue of $4.20 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the business earned $2.53 EPS. On average, analysts expect that Broadcom Limited will post $15.78 EPS for the current year.

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Several equities analysts have commented on AVGO shares. Craig Hallum increased their target price on shares of Broadcom Limited from $260.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, June 2nd. Loop Capital reissued a “buy” rating and set a $270.00 target price (up from $251.00) on shares of Broadcom Limited in a research report on Thursday, June 1st. Deutsche Bank AG reissued a “buy” rating and set a $275.00 target price (up from $255.00) on shares of Broadcom Limited in a research report on Thursday, June 1st. Rosenblatt Securities reissued a “buy” rating and set a $260.00 target price on shares of Broadcom Limited in a research report on Wednesday, May 31st. Finally, B. Riley reissued a “buy” rating and set a $305.00 target price on shares of Broadcom Limited in a research report on Tuesday, May 30th. 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 stock currently has a consensus rating of “Buy” and a consensus price target of $263.22.

In other news, insider Kirsten M. Spears sold 1,306 shares of the company’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $254.15, for a total value 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 30,000 shares of the company’s stock in a transaction 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 41,306 shares of company stock worth $10,380,120. Corporate insiders own 3.60% of the company’s stock.

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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Institutional Ownership by Quarter for Broadcom Limited (NASDAQ:AVGO)

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