Oakbrook Investments LLC Increases Position in Broadcom Limited (AVGO)
Oakbrook Investments LLC increased its stake in shares of Broadcom Limited (NASDAQ:AVGO) by 45.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 24,775 shares of the semiconductor manufacturer’s stock after buying an additional 7,725 shares during the period. Oakbrook Investments LLC’s holdings in Broadcom Limited were worth $5,774,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of AVGO. FNY Managed Accounts LLC purchased a new position in shares of Broadcom Limited during the first quarter worth $100,000. AllSquare Wealth Management LLC raised its position in shares of Broadcom Limited by 38.0% in the first quarter. AllSquare Wealth Management LLC now owns 483 shares of the semiconductor manufacturer’s stock worth $106,000 after buying an additional 133 shares during the period. Crestwood Advisors Group LLC purchased a new position in shares of Broadcom Limited during the first quarter worth $111,000. Archford Capital Strategies LLC raised its position in shares of Broadcom Limited by 45.4% in the first quarter. Archford Capital Strategies LLC now owns 538 shares of the semiconductor manufacturer’s stock worth $118,000 after buying an additional 168 shares during the period. Finally, D. Scott Neal Inc. purchased a new position in shares of Broadcom Limited during the second quarter worth $127,000. 90.60% of the stock is owned by hedge funds and other institutional investors.
Shares of Broadcom Limited (AVGO) traded up 1.31% during mid-day trading on Monday, reaching $252.44. The company’s stock had a trading volume of 1,872,998 shares. Broadcom Limited has a 12 month low of $158.75 and a 12 month high of $258.49. The company’s market cap is $102.64 billion. The company has a 50-day moving average of $244.11 and a 200-day moving average of $226.01.
Broadcom Limited (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, June 1st. The semiconductor manufacturer reported $3.69 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $4.11 billion. During the same quarter in the previous year, the business posted $2.53 EPS. Broadcom Limited’s revenue was up 17.9% on a year-over-year basis. Equities research analysts forecast that Broadcom Limited will post $15.78 earnings per share for the current fiscal year.
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AVGO has been the topic of a number of recent research reports. Morgan Stanley reiterated an “overweight” rating and set a $245.00 target price on shares of Broadcom Limited in a research note on Monday, April 10th. Zacks Investment Research lowered Broadcom Limited from a “buy” rating to a “hold” rating in a research note on Tuesday, May 2nd. Instinet restated a “buy” rating and set a $260.00 price objective (up previously from $230.00) on shares of Broadcom Limited in a research note on Wednesday, May 17th. Royal Bank Of Canada restated a “top pick” rating and set a $250.00 price objective on shares of Broadcom Limited in a research note on Tuesday, May 23rd. Finally, Mizuho restated a “buy” rating and set a $265.00 price objective (up previously from $250.00) on shares of Broadcom Limited in a research note on Sunday, May 28th. Two investment analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $263.29.
In other news, insider Kirsten M. Spears sold 1,306 shares of the stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $254.15, for a total value of $331,919.90. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Bryan Ingram sold 10,000 shares of the stock in a transaction 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 disclosure for this sale can be found here. Insiders have sold a total of 41,306 shares of company stock worth $10,380,120 in the last 90 days. 3.60% of the stock is currently 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.
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