Zurich Insurance Group Ltd FI bought a new position in Broadcom Limited (NASDAQ:AVGO) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 70,079 shares of the semiconductor manufacturer’s stock, valued at approximately $16,332,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Alps Advisors Inc. bought a new stake in shares of Broadcom Limited in the 2nd quarter worth $221,000. Principal Financial Group Inc. grew its stake in shares of Broadcom Limited by 14.4% in the 2nd quarter. Principal Financial Group Inc. now owns 667,057 shares of the semiconductor manufacturer’s stock worth $155,459,000 after acquiring an additional 83,929 shares in the last quarter. DSAM Partners London Ltd grew its stake in shares of Broadcom Limited by 103.4% in the 2nd quarter. DSAM Partners London Ltd now owns 184,714 shares of the semiconductor manufacturer’s stock worth $43,048,000 after acquiring an additional 93,890 shares in the last quarter. Segment Wealth Management LLC grew its stake in shares of Broadcom Limited by 6.1% in the 2nd quarter. Segment Wealth Management LLC now owns 14,030 shares of the semiconductor manufacturer’s stock worth $3,269,000 after acquiring an additional 810 shares in the last quarter. Finally, Zweig DiMenna Associates LLC grew its stake in shares of Broadcom Limited by 79.0% in the 2nd quarter. Zweig DiMenna Associates LLC now owns 96,680 shares of the semiconductor manufacturer’s stock worth $22,531,000 after acquiring an additional 42,668 shares in the last quarter. Hedge funds and other institutional investors own 89.70% of the company’s stock.

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Several analysts have recently issued reports on the stock. UBS AG reiterated a “buy” rating and issued a $265.00 target price (up previously from $245.00) on shares of Broadcom Limited in a research note on Monday, June 5th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $285.00 target price on shares of Broadcom Limited in a research note on Wednesday, July 12th. Raymond James Financial, Inc. reiterated a “strong-buy” rating and issued a $300.00 target price on shares of Broadcom Limited in a research note on Friday, June 16th. Loop Capital reiterated a “buy” rating and issued a $302.00 target price on shares of Broadcom Limited in a research note on Friday, August 25th. Finally, Morgan Stanley reiterated a “buy” rating and issued a $290.00 target price on shares of Broadcom Limited in a research note on Friday, August 25th. One equities research analyst has rated the stock with a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $276.80.

Shares of Broadcom Limited (AVGO) traded down 0.16% during midday trading on Friday, reaching $242.54. 1,731,903 shares of the company were exchanged. The company has a 50 day moving average price of $249.11 and a 200-day moving average price of $236.86. Broadcom Limited has a 12-month low of $160.62 and a 12-month high of $259.36. The stock has a market capitalization of $98.95 billion, a P/E ratio of 184.72 and a beta of 1.07.

Broadcom Limited (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 EPS for the quarter, topping the Zacks’ 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 company had revenue of $4.47 billion for the quarter, compared to analysts’ expectations of $4.46 billion. During the same period in the previous year, the firm earned $2.89 EPS. The firm’s revenue was up 17.5% compared to the same quarter last year. On average, analysts forecast that Broadcom Limited will post $15.91 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Tuesday, September 19th were issued a dividend of $1.02 per share. The ex-dividend date of this dividend was Monday, September 18th. This represents a $4.08 annualized dividend and a dividend yield of 1.68%. Broadcom Limited’s dividend payout ratio (DPR) is 348.72%.

In other news, SVP Bryan Ingram sold 30,000 shares of the company’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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Charlie B. Kawwas sold 1,788 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $247.28, for a total value of $442,136.64. The disclosure for this sale can be found here. Insiders have sold a total of 51,788 shares of company stock worth $12,692,037 over the last ninety days. 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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