Dorsey Wright & Associates Grows Stake in Broadcom Limited (AVGO)
Dorsey Wright & Associates lifted its holdings in Broadcom Limited (NASDAQ:AVGO) by 151.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,627 shares of the semiconductor manufacturer’s stock after acquiring an additional 10,020 shares during the quarter. Broadcom Limited accounts for 1.1% of Dorsey Wright & Associates’ holdings, making the stock its 29th biggest position. Dorsey Wright & Associates’ holdings in Broadcom Limited were worth $2,745,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the company. Buckingham Capital Management Inc. acquired a new stake in shares of Broadcom Limited in the second quarter worth $334,000. Bainco International Investors acquired a new stake in shares of Broadcom Limited in the second quarter worth $7,697,000. Teachers Advisors LLC increased its stake in shares of Broadcom Limited by 0.3% in the second quarter. Teachers Advisors LLC now owns 1,280,437 shares of the semiconductor manufacturer’s stock worth $298,406,000 after acquiring an additional 4,357 shares during the period. CWA Asset Management Group LLC increased its stake in shares of Broadcom Limited by 0.9% in the second quarter. CWA Asset Management Group LLC now owns 1,917 shares of the semiconductor manufacturer’s stock worth $447,000 after acquiring an additional 17 shares during the period. Finally, Peregrine Asset Advisers Inc. increased its stake in shares of Broadcom Limited by 3.9% in the second quarter. Peregrine Asset Advisers Inc. now owns 2,639 shares of the semiconductor manufacturer’s stock worth $615,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 90.04% of the company’s stock.
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A number of analysts have recently weighed in on the stock. KeyCorp reiterated an “overweight” rating and issued a $280.00 price objective on shares of Broadcom Limited in a research note on Wednesday, August 23rd. Rosenblatt Securities reiterated a “buy” rating and issued a $270.00 price objective on shares of Broadcom Limited in a research note on Wednesday, August 23rd. UBS AG reiterated an “overweight” rating on shares of Broadcom Limited in a research note on Thursday, August 24th. Robert W. Baird reiterated an “outperform” rating and issued a $290.00 price objective (up previously from $260.00) on shares of Broadcom Limited in a research note on Friday, August 25th. Finally, Jefferies Group LLC restated a “buy” rating and set a $286.00 price target (up previously from $270.00) on shares of Broadcom Limited in a research report on Friday, August 25th. Two investment analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $274.48.
In other news, SVP Bryan Ingram sold 10,000 shares of the stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $244.59, for a total transaction of $2,445,900.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.60% of the stock is currently owned by corporate insiders.
Shares of Broadcom Limited (AVGO) traded down 0.51% during midday trading on Wednesday, hitting $245.89. 492,435 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $249.74 and its 200 day moving average price is $235.37. Broadcom Limited has a one year low of $160.62 and a one year high of $259.36. The firm has a market cap of $100.32 billion, a PE ratio of 187.27 and a beta of 1.07.
Broadcom Limited (NASDAQ:AVGO) last released its earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.03 by $0.07. The company 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%. The firm’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.89 EPS. Equities research analysts forecast that Broadcom Limited will post $15.92 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Tuesday, September 19th will be issued a $1.02 dividend. The ex-dividend date is Monday, September 18th. This represents a $4.08 dividend on an annualized basis and a yield of 1.65%. Broadcom Limited’s dividend payout ratio (DPR) is 348.72%.
Broadcom Limited 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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