Korea Investment CORP reduced its stake in shares of Broadcom Limited (NASDAQ:AVGO) by 7.2% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 526,385 shares of the semiconductor manufacturer’s stock after selling 40,866 shares during the period. Korea Investment CORP owned approximately 0.13% of Broadcom Limited worth $122,674,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of AVGO. American National Bank boosted its position in Broadcom Limited by 125,580.0% in the first quarter. American National Bank now owns 12,568 shares of the semiconductor manufacturer’s stock valued at $2,752,000 after buying an additional 12,558 shares in the last quarter. BKD Wealth Advisors LLC boosted its position in Broadcom Limited by 2.1% in the first quarter. BKD Wealth Advisors LLC now owns 2,361 shares of the semiconductor manufacturer’s stock valued at $517,000 after buying an additional 48 shares in the last quarter. Private Bank & Trust Co. boosted its position in Broadcom Limited by 1.4% in the first quarter. Private Bank & Trust Co. now owns 1,343 shares of the semiconductor manufacturer’s stock valued at $294,000 after buying an additional 18 shares in the last quarter. Inverness Counsel LLC NY bought a new position in Broadcom Limited during the first quarter valued at about $10,913,000. Finally, Campbell Newman Asset Management Inc. bought a new position in Broadcom Limited during the first quarter valued at about $367,000. 90.60% of the stock is currently owned by institutional investors.

Shares of Broadcom Limited (NASDAQ AVGO) opened at 252.44 on Tuesday. The company has a 50-day moving average of $244.11 and a 200-day moving average of $226.01. Broadcom Limited has a 1-year low of $158.75 and a 1-year high of $258.49. The company’s market cap is $102.64 billion.

Broadcom Limited (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, June 1st. The semiconductor manufacturer reported $3.69 earnings per share 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 business had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.11 billion. During the same quarter in the previous year, the company earned $2.53 EPS. The business’s revenue was up 17.9% on a year-over-year basis. Equities analysts forecast that Broadcom Limited will post $15.78 EPS for the current year.

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Several research analysts have issued reports on the company. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $275.00 price target (up previously from $240.00) on shares of Broadcom Limited in a report on Friday, June 2nd. MKM Partners reiterated a “buy” rating and set a $261.00 price objective (up from $250.00) on shares of Broadcom Limited in a research report on Friday, June 2nd. Canaccord Genuity reiterated a “buy” rating and set a $272.00 price objective (up from $250.00) on shares of Broadcom Limited in a research report on Saturday, June 3rd. Morgan Stanley reiterated an “overweight” rating and set a $280.00 price objective (up from $265.00) on shares of Broadcom Limited in a research report on Saturday, June 3rd. Finally, Mizuho reiterated a “buy” rating and set a $275.00 price objective (up from $265.00) on shares of Broadcom Limited in a research report on Saturday, June 3rd. Two 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 presently has an average rating of “Buy” and a consensus target price of $263.22.

In other Broadcom Limited news, insider Kirsten M. Spears sold 1,306 shares of Broadcom Limited stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $254.15, for a total value of $331,919.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Bryan Ingram sold 10,000 shares of Broadcom Limited stock in a transaction dated 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 sold a total of 41,306 shares of company stock valued at $10,380,120 in the last quarter. Corporate 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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