Sandy Spring Bank reduced its holdings in Broadcom Limited (NASDAQ:AVGO) by 19.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 429 shares of the semiconductor manufacturer’s stock after selling 104 shares during the quarter. Sandy Spring Bank’s holdings in Broadcom Limited were worth $100,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the company. PNC Financial Services Group Inc. lifted its position in shares of Broadcom Limited by 24.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 153,859 shares of the semiconductor manufacturer’s stock worth $35,859,000 after buying an additional 30,257 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of Broadcom Limited by 18.6% in the 2nd quarter. ProShare Advisors LLC now owns 176,658 shares of the semiconductor manufacturer’s stock worth $41,170,000 after buying an additional 27,722 shares during the last quarter. Profund Advisors LLC lifted its position in shares of Broadcom Limited by 15.0% in the 2nd quarter. Profund Advisors LLC now owns 113,687 shares of the semiconductor manufacturer’s stock worth $26,495,000 after buying an additional 14,802 shares during the last quarter. Stevens Capital Management LP lifted its position in shares of Broadcom Limited by 39.3% in the 2nd quarter. Stevens Capital Management LP now owns 63,165 shares of the semiconductor manufacturer’s stock worth $14,721,000 after buying an additional 17,820 shares during the last quarter. Finally, Matthews International Capital Management LLC bought a new position in shares of Broadcom Limited in the 2nd quarter worth about $64,928,000. Institutional investors own 89.70% of the company’s stock.

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A number of research analysts have recently issued reports on AVGO shares. Deutsche Bank AG raised their price target on shares of Broadcom Limited from $275.00 to $295.00 and gave the stock a “buy” rating in a research report on Friday, August 25th. Vetr downgraded shares of Broadcom Limited from a “buy” rating to a “hold” rating and set a $261.95 price target on the stock. in a research report on Monday, September 4th. Morgan Stanley restated an “overweight” rating and issued a $265.00 price target (up from $245.00) on shares of Broadcom Limited in a research report on Thursday, May 25th. Pacific Crest restated an “overweight” rating and issued a $260.00 price target on shares of Broadcom Limited in a research report on Wednesday, May 31st. Finally, B. Riley restated an “avgo (” rating and issued a $305.00 price target on shares of Broadcom Limited in a research report on Monday, August 21st. Two investment analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Broadcom Limited has a consensus rating of “Buy” and an average target price of $274.48.

Shares of Broadcom Limited (NASDAQ AVGO) opened at 249.76 on Wednesday. Broadcom Limited has a 12-month low of $160.62 and a 12-month high of $259.36. The company’s 50 day moving average is $249.11 and its 200 day moving average is $236.86. The firm has a market capitalization of $101.90 billion, a PE ratio of 190.22 and a beta of 1.07.

Broadcom Limited (NASDAQ:AVGO) last posted its earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.03 by $0.07. Broadcom Limited had a return on equity of 26.82% and a net margin of 3.12%. The business had revenue of $4.47 billion during the quarter, compared to analysts’ expectations of $4.46 billion. During the same period in the prior year, the business earned $2.89 EPS. Broadcom Limited’s revenue for the quarter was up 17.5% compared to the same quarter last year. On average, analysts forecast that Broadcom Limited will post $15.92 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Tuesday, September 19th will be paid a dividend of $1.02 per share. The ex-dividend date is Monday, September 18th. This represents a $4.08 dividend on an annualized basis and a yield of 1.63%. Broadcom Limited’s payout ratio is 348.72%.

In other news, insider Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $246.48, for a total transaction of $4,929,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Bryan Ingram sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $244.01, for a total transaction of $7,320,300.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,788 shares of company stock valued at $15,137,937. 3.60% of the stock is owned by company insiders.

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.

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

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