Bp Plc reduced its stake in shares of Broadcom Limited (NASDAQ:AVGO) by 6.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 45,000 shares of the semiconductor manufacturer’s stock after selling 3,000 shares during the period. Bp Plc’s holdings in Broadcom Limited were worth $10,484,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. FNY Managed Accounts LLC purchased a new position in shares of Broadcom Limited during the first quarter valued at about $100,000. AllSquare Wealth Management LLC increased 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 valued at $106,000 after buying an additional 133 shares during the last quarter. Crestwood Advisors Group LLC purchased a new position in shares of Broadcom Limited during the first quarter valued at about $111,000. Archford Capital Strategies LLC increased 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 valued at $118,000 after buying an additional 168 shares during the last quarter. Finally, D. Scott Neal Inc. purchased a new position in shares of Broadcom Limited during the second quarter valued at about $127,000. 90.60% of the stock is currently owned by institutional investors.

Broadcom Limited (NASDAQ:AVGO) opened at 249.17 on Thursday. The company’s market capitalization is $101.31 billion. The stock has a 50 day moving average of $246.02 and a 200-day moving average of $228.26. Broadcom Limited has a 52-week low of $158.75 and a 52-week high of $258.49.

Broadcom Limited (NASDAQ:AVGO) last announced its earnings results on Thursday, June 1st. The semiconductor manufacturer reported $3.69 earnings per share (EPS) for the quarter, topping 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 business had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.11 billion. During the same quarter in the previous year, the firm posted $2.53 earnings per share. Broadcom Limited’s revenue was up 17.9% compared to the same quarter last year. On average, equities analysts forecast that Broadcom Limited will post $15.78 earnings per share for the current year.

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AVGO has been the topic of several recent analyst reports. Craig Hallum upped their price objective on shares of Broadcom Limited from $260.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, June 2nd. Loop Capital reissued a “buy” rating and set a $270.00 price objective (up previously from $251.00) on shares of Broadcom Limited in a research note on Thursday, June 1st. Deutsche Bank AG reissued a “buy” rating and set a $275.00 price objective (up previously from $255.00) on shares of Broadcom Limited in a research note on Thursday, June 1st. Rosenblatt Securities reissued a “buy” rating and set a $260.00 price objective on shares of Broadcom Limited in a research note on Wednesday, May 31st. Finally, B. Riley reissued a “buy” rating and set a $305.00 price objective on shares of Broadcom Limited in a research note on Tuesday, May 30th. Two investment analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $263.22.

In other Broadcom Limited news, SVP Bryan Ingram sold 10,000 shares of the business’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 document filed with the SEC, which is accessible through the SEC website. Also, insider Kirsten M. Spears sold 1,306 shares of the business’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 have sold 41,306 shares of company stock worth $10,380,120 in the last ninety days. 3.60% of the stock is currently owned by 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.

Institutional Ownership by Quarter for Broadcom Limited (NASDAQ:AVGO)

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