Pacer Advisors Inc. acquired a new position in shares of Broadcom Limited (NASDAQ:AVGO) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 5,291 shares of the semiconductor manufacturer’s stock, valued at approximately $1,233,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Broadcom Limited by 7.0% in the first quarter. Vanguard Group Inc. now owns 26,768,435 shares of the semiconductor manufacturer’s stock worth $5,861,217,000 after buying an additional 1,746,144 shares during the period. BlackRock Inc. increased its position in shares of Broadcom Limited by 2,707.3% in the first quarter. BlackRock Inc. now owns 23,131,935 shares of the semiconductor manufacturer’s stock worth $5,064,971,000 after buying an additional 22,307,935 shares during the period. State Street Corp increased its position in shares of Broadcom Limited by 3.8% in the first quarter. State Street Corp now owns 15,805,653 shares of the semiconductor manufacturer’s stock worth $3,460,804,000 after buying an additional 583,498 shares during the period. Wellington Management Group LLP increased its position in shares of Broadcom Limited by 29.3% in the first quarter. Wellington Management Group LLP now owns 6,710,760 shares of the semiconductor manufacturer’s stock worth $1,469,388,000 after buying an additional 1,519,598 shares during the period. Finally, Jennison Associates LLC increased its position in shares of Broadcom Limited by 26.7% in the second quarter. Jennison Associates LLC now owns 5,345,868 shares of the semiconductor manufacturer’s stock worth $1,245,855,000 after buying an additional 1,128,052 shares during the period. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadcom Limited (NASDAQ AVGO) opened at 245.59 on Monday. The stock has a market cap of $99.96 billion, a PE ratio of 187.04 and a beta of 1.05. The stock has a 50 day moving average price of $249.87 and a 200-day moving average price of $232.19. Broadcom Limited has a 1-year low of $158.75 and a 1-year high of $259.36.

Broadcom Limited (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $4.03 by $0.07. Broadcom Limited had a net margin of 3.12% and a return on equity of 27.01%. The firm had revenue of $4.47 billion during the quarter, compared to analysts’ expectations of $4.46 billion. During the same period in the previous year, the company earned $2.89 earnings per share. Broadcom Limited’s quarterly revenue was up 17.5% compared to the same quarter last year. On average, equities analysts expect that Broadcom Limited will post $15.90 EPS for the current year.

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A number of research analysts have issued reports on AVGO shares. Vetr upgraded Broadcom Limited from a “hold” rating to a “buy” rating and set a $261.95 price objective for the company in a research note on Monday. Rosenblatt Securities reaffirmed a “buy” rating and set a $260.00 price target on shares of Broadcom Limited in a research report on Wednesday, May 31st. Royal Bank Of Canada reaffirmed a “buy” rating and set a $285.00 price target (up previously from $270.00) on shares of Broadcom Limited in a research report on Saturday. Instinet reaffirmed a “buy” rating and set a $260.00 price target (up previously from $230.00) on shares of Broadcom Limited in a research report on Wednesday, May 17th. Finally, UBS AG reaffirmed a “buy” rating and set a $265.00 price target on shares of Broadcom Limited in a research report on Monday, June 26th. Two analysts have rated the stock with a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the stock. Broadcom Limited presently has a consensus rating of “Buy” and an average target price of $268.04.

In related news, 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 value of $331,919.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Bryan Ingram sold 30,000 shares of the business’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $253.41, for a total transaction of $7,602,300.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,306 shares of company stock valued at $10,380,120. 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.

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

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