WINTON GROUP Ltd Buys 1,858 Shares of Broadcom Limited (AVGO)
WINTON GROUP Ltd grew its stake in Broadcom Limited (NASDAQ:AVGO) by 5.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,533 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,858 shares during the quarter. WINTON GROUP Ltd’s holdings in Broadcom Limited were worth $8,514,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the company. Mountain Capital Investment Advisors Inc purchased a new stake in shares of Broadcom Limited in the second quarter valued at $113,000. Gofen & Glossberg LLC IL lifted its position in shares of Broadcom Limited by 2.6% in the second quarter. Gofen & Glossberg LLC IL now owns 71,504 shares of the semiconductor manufacturer’s stock valued at $16,664,000 after acquiring an additional 1,820 shares in the last quarter. Covington Capital Management lifted its position in shares of Broadcom Limited by 34.5% in the second quarter. Covington Capital Management now owns 7,208 shares of the semiconductor manufacturer’s stock valued at $1,680,000 after acquiring an additional 1,850 shares in the last quarter. Koch Industries Inc. purchased a new stake in shares of Broadcom Limited in the second quarter valued at $627,000. Finally, Verition Fund Management LLC purchased a new stake in shares of Broadcom Limited in the second quarter valued at $868,000. Institutional investors and hedge funds own 89.65% of the company’s stock.
In other Broadcom Limited news, SVP Charlie B. Kawwas sold 1,788 shares of the company’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $247.28, for a total transaction of $442,136.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Bryan Ingram sold 30,000 shares of the company’s stock in a transaction on Thursday, September 14th. The shares were 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. Insiders have sold a total of 61,788 shares of company stock valued at $15,098,237 in the last quarter. Corporate insiders own 3.60% of the company’s stock.
Several brokerages have recently issued reports on AVGO. Cowen and Company restated a “buy” rating and issued a $260.00 price objective on shares of Broadcom Limited in a research report on Friday, August 11th. UBS AG restated a “buy” rating and issued a $265.00 price objective on shares of Broadcom Limited in a research report on Monday, June 26th. B. Riley reiterated a “buy” rating and set a $305.00 target price on shares of Broadcom Limited in a research report on Saturday, August 26th. Craig Hallum reiterated a “buy” rating on shares of Broadcom Limited in a research report on Wednesday, September 13th. Finally, Pacific Crest reiterated an “overweight” rating and set a $280.00 target price on shares of Broadcom Limited in a research report on Wednesday, June 21st. One research analyst has rated the stock with a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $276.93.
Shares of Broadcom Limited (NASDAQ:AVGO) traded down 0.65% during trading on Monday, hitting $246.36. The stock had a trading volume of 493,942 shares. Broadcom Limited has a 52 week low of $160.62 and a 52 week high of $259.36. The stock has a market capitalization of $100.51 billion, a price-to-earnings ratio of 187.63 and a beta of 1.08. The stock’s 50 day moving average is $245.16 and its 200 day moving average is $239.72.
Broadcom Limited (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.03 by $0.07. Broadcom Limited had a return on equity of 26.82% and a net margin of 3.12%. The firm had revenue of $4.47 billion for the quarter, compared to the consensus estimate of $4.46 billion. During the same quarter in the prior year, the business earned $2.89 EPS. The business’s revenue for the quarter was up 17.5% compared to the same quarter last year. On average, equities research analysts expect that Broadcom Limited will post $15.91 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Tuesday, September 19th were given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend was Monday, September 18th. Broadcom Limited’s payout ratio is 348.72%.
Broadcom Limited Company 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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