LLBH Private Wealth Management LLC purchased a new stake in Broadcom Limited (NASDAQ:AVGO) during the second quarter, Holdings Channel reports. The fund purchased 1,363 shares of the semiconductor manufacturer’s stock, valued at approximately $318,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. James Investment Research Inc. raised its stake in shares of Broadcom Limited by 5.5% in the first quarter. James Investment Research Inc. now owns 85,605 shares of the semiconductor manufacturer’s stock valued at $18,744,000 after buying an additional 4,469 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV raised its stake in shares of Broadcom Limited by 14.1% in the first quarter. Hudson Valley Investment Advisors Inc. ADV now owns 15,846 shares of the semiconductor manufacturer’s stock valued at $3,470,000 after buying an additional 1,961 shares in the last quarter. Covenant Asset Management LLC raised its stake in shares of Broadcom Limited by 1.0% in the first quarter. Covenant Asset Management LLC now owns 13,992 shares of the semiconductor manufacturer’s stock valued at $3,064,000 after buying an additional 144 shares in the last quarter. Retirement Systems of Alabama raised its stake in shares of Broadcom Limited by 67.1% in the first quarter. Retirement Systems of Alabama now owns 323,856 shares of the semiconductor manufacturer’s stock valued at $70,912,000 after buying an additional 130,024 shares in the last quarter. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Broadcom Limited during the first quarter valued at $229,000. Institutional investors and hedge funds own 90.94% of the company’s stock.

Broadcom Limited (AVGO) opened at 250.91 on Tuesday. The firm’s market capitalization is $102.02 billion. Broadcom Limited has a 52-week low of $158.75 and a 52-week high of $258.49. The firm’s 50-day moving average is $246.06 and its 200 day moving average is $229.49. Broadcom Limited also was the recipient of some unusual options trading activity on Monday. Stock investors purchased 10,775 call options on the stock. This represents an increase of 177% compared to the average 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 (EPS) for the quarter, beating the consensus estimate of $3.50 by $0.19. Broadcom Limited had a negative net margin of 1.54% and a positive return on equity of 24.15%. The firm had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.11 billion. During the same period in the previous year, the business earned $2.53 EPS. The company’s revenue was up 17.9% compared to the same quarter last year. Equities analysts anticipate that Broadcom Limited will post $15.78 EPS for the current year.

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AVGO has been the subject of several research analyst reports. Rosenblatt Securities reissued a “buy” rating and issued a $260.00 price objective on shares of Broadcom Limited in a report on Wednesday, May 31st. Instinet reissued a “buy” rating and issued a $260.00 price objective (up from $230.00) on shares of Broadcom Limited in a report on Wednesday, May 17th. UBS AG reissued a “buy” rating and issued a $265.00 price objective on shares of Broadcom Limited in a report on Monday, June 26th. Sanford C. Bernstein reissued an “outperform” rating and issued a $285.00 price objective (up from $265.00) on shares of Broadcom Limited in a report on Saturday, June 3rd. Finally, Canaccord Genuity reissued a “buy” rating and issued a $272.00 price objective (up from $250.00) on shares of Broadcom Limited in a report on Saturday, June 3rd. One investment analyst has rated the stock with a hold rating, thirty-seven have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $263.22.

In other Broadcom Limited news, SVP Bryan Ingram sold 30,000 shares of Broadcom Limited 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kirsten M. Spears sold 1,306 shares of Broadcom Limited stock in a transaction 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 worth $10,380,120 over the last quarter. 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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Institutional Ownership by Quarter for Broadcom Limited (NASDAQ:AVGO)

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