Denver Investment Advisors LLC Sells 3,235 Shares of Broadcom Limited (AVGO)
Denver Investment Advisors LLC lowered its stake in Broadcom Limited (NASDAQ:AVGO) by 4.6% during the second quarter, Holdings Channel reports. The fund owned 67,093 shares of the semiconductor manufacturer’s stock after selling 3,235 shares during the period. Denver Investment Advisors LLC’s holdings in Broadcom Limited were worth $15,636,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in AVGO. FNY Managed Accounts LLC purchased a new stake in shares of Broadcom Limited during the first quarter valued at $100,000. AllSquare Wealth Management LLC raised its stake in shares of 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 purchased a new stake in shares of Broadcom Limited during the first quarter valued at $111,000. Shine Investment Advisory Services Inc. purchased a new stake in shares of Broadcom Limited during the second quarter valued at $116,000. Finally, Archford Capital Strategies LLC raised its stake in shares of 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. 90.94% of the stock is currently owned by institutional investors.
Broadcom Limited (NASDAQ:AVGO) opened at 253.69 on Wednesday. The firm has a 50-day moving average price of $246.37 and a 200-day moving average price of $229.84. Broadcom Limited has a 1-year low of $158.75 and a 1-year high of $258.49. The firm’s market capitalization is $103.15 billion. Broadcom Limited also was the recipient of unusually large options trading on Monday. Stock investors acquired 10,775 call options on the company. This represents an increase of 177% compared to the typical volume of 3,886 call options.
Broadcom Limited (NASDAQ:AVGO) last issued its quarterly 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. Broadcom Limited had a positive return on equity of 24.15% and a negative net margin of 1.54%. The firm had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $4.11 billion. During the same period last year, the business posted $2.53 EPS. The business’s revenue was up 17.9% compared to the same quarter last year. Equities analysts expect that Broadcom Limited will post $15.78 earnings per share for the current fiscal year.
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Several brokerages have recently weighed in on AVGO. UBS AG reissued a “buy” rating and set a $265.00 price objective (up previously from $245.00) on shares of Broadcom Limited in a report on Monday, June 5th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $285.00 price objective on shares of Broadcom Limited in a report on Wednesday, July 12th. Raymond James Financial, Inc. reissued a “strong-buy” rating and set a $300.00 price objective on shares of Broadcom Limited in a report on Friday, June 16th. Morgan Stanley restated an “overweight” rating and set a $280.00 target price (up previously from $265.00) on shares of Broadcom Limited in a research report on Saturday, June 3rd. Finally, KeyCorp restated an “overweight” rating and set a $280.00 target price on shares of Broadcom Limited in a research report on Wednesday, July 12th. One investment analyst has rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has issued a strong buy rating to the stock. Broadcom Limited presently has an average rating of “Buy” and an average target price of $263.22.
In other Broadcom Limited news, SVP Bryan Ingram sold 30,000 shares of the stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $253.41, for a total transaction of $7,602,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kirsten M. Spears sold 1,306 shares of the stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $254.15, for a total value of $331,919.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,306 shares of company stock valued at $10,380,120. Company 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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