Seven Bridges Advisors LLC cut its position in shares of Broadcom Limited (NASDAQ:AVGO) by 10.7% during the second quarter, Holdings Channel reports. The institutional investor owned 2,345 shares of the semiconductor manufacturer’s stock after selling 280 shares during the period. Seven Bridges Advisors LLC’s holdings in Broadcom Limited were worth $547,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AVGO. Tompkins Financial Corp raised its position in shares of Broadcom Limited by 10.1% in the first quarter. Tompkins Financial Corp now owns 2,885 shares of the semiconductor manufacturer’s stock worth $446,000 after buying an additional 265 shares in the last quarter. Capital City Trust Co. FL raised its position in shares of Broadcom Limited by 21.2% in the first quarter. Capital City Trust Co. FL now owns 3,977 shares of the semiconductor manufacturer’s stock worth $871,000 after buying an additional 696 shares in the last quarter. Atria Investments LLC raised its position in shares of Broadcom Limited by 135.4% in the first quarter. Atria Investments LLC now owns 4,129 shares of the semiconductor manufacturer’s stock worth $904,000 after buying an additional 2,375 shares in the last quarter. American National Bank raised its position in shares of Broadcom Limited by 125,580.0% in the first quarter. American National Bank now owns 12,568 shares of the semiconductor manufacturer’s stock worth $2,752,000 after buying an additional 12,558 shares in the last quarter. Finally, BKD Wealth Advisors LLC raised its position in shares of Broadcom Limited by 2.1% in the first quarter. BKD Wealth Advisors LLC now owns 2,361 shares of the semiconductor manufacturer’s stock worth $517,000 after buying an additional 48 shares in 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 249.17 on Thursday. The company’s 50-day moving average price is $246.02 and its 200 day moving average price is $228.26. The firm’s market cap is $101.31 billion. Broadcom Limited has a 1-year low of $158.75 and a 1-year high of $258.49.

Broadcom Limited (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, June 1st. The semiconductor manufacturer reported $3.69 EPS for the quarter, beating analysts’ consensus estimates of $3.50 by $0.19. The business had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.11 billion. Broadcom Limited had a positive return on equity of 24.15% and a negative net margin of 1.54%. Broadcom Limited’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.53 EPS. On average, analysts predict that Broadcom Limited will post $15.78 EPS for the current year.

TRADEMARK VIOLATION NOTICE: This piece of content was posted by Watch List News and is the property of of Watch List News. If you are viewing this piece of content on another website, it was illegally copied and republished in violation of international copyright legislation. The correct version of this piece of content can be accessed at https://www.watchlistnews.com/seven-bridges-advisors-llc-reduces-position-in-broadcom-limited-avgo/1469112.html.

A number of research analysts have commented on the company. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $275.00 price objective (up from $240.00) on shares of Broadcom Limited in a report on Friday, June 2nd. MKM Partners reaffirmed a “buy” rating and issued a $261.00 price objective (up from $250.00) on shares of Broadcom Limited in a report on Friday, June 2nd. Canaccord Genuity reaffirmed 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. Morgan Stanley reaffirmed an “overweight” rating and issued a $280.00 price objective (up from $265.00) on shares of Broadcom Limited in a report on Saturday, June 3rd. Finally, Mizuho reiterated a “buy” rating and set a $275.00 target price (up from $265.00) on shares of Broadcom Limited in a research report on Saturday, June 3rd. Two investment analysts have rated the stock with a hold rating, thirty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. Broadcom Limited presently has an average rating of “Buy” and an average price target of $263.22.

In other Broadcom Limited news, SVP Bryan Ingram sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $244.59, for a total transaction of $2,445,900.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Kirsten M. Spears sold 1,306 shares of the company’s stock in a transaction that occurred on 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. Insiders have sold a total of 41,306 shares of company stock valued at $10,380,120 in the last ninety days. 3.60% of the stock is currently owned by corporate 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.

Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Limited (NASDAQ:AVGO).

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

Receive News & Ratings for Broadcom Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom Limited and related companies with Analyst Ratings Network's FREE daily email newsletter.