Sei Investments Co. Acquires 83,927 Shares of Broadcom Limited (NASDAQ:AVGO)
Sei Investments Co. raised its position in Broadcom Limited (NASDAQ:AVGO) by 20.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 493,272 shares of the semiconductor manufacturer’s stock after buying an additional 83,927 shares during the period. Sei Investments Co. owned approximately 0.12% of Broadcom Limited worth $114,957,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Ingalls & Snyder LLC increased its position in Broadcom Limited by 8.6% in the second quarter. Ingalls & Snyder LLC now owns 1,331 shares of the semiconductor manufacturer’s stock worth $310,000 after buying an additional 105 shares in the last quarter. Busey Trust CO acquired a new position in Broadcom Limited during the second quarter worth approximately $223,000. Egerton Capital UK LLP acquired a new position in Broadcom Limited during the second quarter worth approximately $163,499,000. Kistler Tiffany Companies LLC increased its position in Broadcom Limited by 20.9% in the second quarter. Kistler Tiffany Companies LLC now owns 832 shares of the semiconductor manufacturer’s stock worth $194,000 after buying an additional 144 shares in the last quarter. Finally, Grove Bank & Trust increased its position in Broadcom Limited by 59.8% in the second quarter. Grove Bank & Trust now owns 5,574 shares of the semiconductor manufacturer’s stock worth $1,299,000 after buying an additional 2,086 shares in the last quarter. Institutional investors own 90.60% of the company’s stock.
Shares of Broadcom Limited (AVGO) opened at 252.44 on Tuesday. Broadcom Limited has a 12 month low of $158.75 and a 12 month high of $258.49. The firm’s market cap is $102.64 billion. The firm has a 50-day moving average of $244.11 and a 200-day moving average of $226.01.
Broadcom Limited (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, June 1st. The semiconductor manufacturer reported $3.69 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.11 billion. During the same quarter in the prior year, the company earned $2.53 EPS. The firm’s revenue was up 17.9% on a year-over-year basis. On average, analysts anticipate that Broadcom Limited will post $15.78 EPS for the current year.
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A number of equities research analysts have recently issued reports on AVGO shares. Vetr cut shares of Broadcom Limited from a “buy” rating to a “hold” rating and set a $258.25 target price on the stock. in a report on Tuesday. Morgan Stanley upped their target price on shares of Broadcom Limited from $280.00 to $290.00 and gave the company an “overweight” rating in a report on Monday, July 17th. KeyCorp reaffirmed an “overweight” rating and issued a $280.00 target price on shares of Broadcom Limited in a report on Wednesday, July 12th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $285.00 target price on shares of Broadcom Limited in a report on Wednesday, July 12th. Finally, Mizuho reaffirmed a “buy” rating and issued a $275.00 target price on shares of Broadcom Limited in a report on Monday, July 3rd. Two analysts have rated the stock with a hold rating, thirty-four have given a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $263.22.
In other news, SVP Bryan Ingram sold 10,000 shares of the company’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $244.59, for a total value of $2,445,900.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kirsten M. Spears sold 1,306 shares of the company’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $254.15, for a total transaction of $331,919.90. 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 ninety days. 3.60% of the stock is owned by corporate insiders.
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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