Cannell Peter B & Co. Inc. raised its stake in Broadcom Limited (NASDAQ:AVGO) by 26.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 158,200 shares of the semiconductor manufacturer’s stock after buying an additional 32,990 shares during the period. Broadcom Limited accounts for 1.3% of Cannell Peter B & Co. Inc.’s portfolio, making the stock its 22nd largest position. Cannell Peter B & Co. Inc.’s holdings in Broadcom Limited were worth $36,869,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of AVGO. FNY Managed Accounts LLC acquired a new stake in shares of Broadcom Limited during the first quarter valued at approximately $100,000. AllSquare Wealth Management LLC boosted its stake 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 period. Shine Investment Advisory Services Inc. acquired a new stake in shares of Broadcom Limited during the second quarter valued at approximately $116,000. Archford Capital Strategies LLC boosted its stake 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 period. Finally, D. Scott Neal Inc. acquired a new stake in shares of Broadcom Limited during the second quarter valued at approximately $127,000. 90.03% of the stock is owned by institutional investors and hedge funds.

Broadcom Limited (AVGO) traded up 0.91% during midday trading on Friday, reaching $254.37. The company’s stock had a trading volume of 843,538 shares. Broadcom Limited has a 52 week low of $158.75 and a 52 week high of $259.36. The firm has a market cap of $103.53 billion, a P/E ratio of 193.73 and a beta of 1.05. The firm has a 50 day moving average price of $250.27 and a 200-day moving average price of $233.32.

Broadcom Limited (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.03 by $0.07. The business had revenue of $4.47 billion for the quarter, compared to analysts’ expectations of $4.46 billion. Broadcom Limited had a net margin of 3.12% and a return on equity of 26.82%. The firm’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period last year, the firm posted $2.89 earnings per share. On average, analysts forecast that Broadcom Limited will post $15.92 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Tuesday, September 19th will be given a $1.02 dividend. The ex-dividend date is Monday, September 18th. This represents a $4.08 dividend on an annualized basis and a yield of 1.62%. Broadcom Limited’s dividend payout ratio is currently 348.72%.

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AVGO has been the subject of a number of research reports. Morgan Stanley reissued an “overweight” rating and set a $265.00 price objective (up previously from $245.00) on shares of Broadcom Limited in a research report on Thursday, May 25th. Mizuho reissued a “buy” rating and set a $265.00 price objective (up previously from $250.00) on shares of Broadcom Limited in a research report on Sunday, May 28th. Pacific Crest reissued an “overweight” rating and set a $260.00 price objective on shares of Broadcom Limited in a research report on Wednesday, May 31st. Cowen and Company lifted their price objective on Broadcom Limited from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, June 2nd. Finally, Craig Hallum lifted their price objective on Broadcom Limited from $260.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, June 2nd. One analyst has rated the stock with a hold rating, thirty-three have issued a buy rating and two have issued a strong buy rating to the company’s stock. Broadcom Limited has a consensus rating of “Buy” and a consensus price target of $271.98.

In other Broadcom Limited news, SVP Bryan Ingram sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $253.41, for a total value of $7,602,300.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Kirsten M. Spears sold 1,306 shares of the firm’s stock in a transaction that occurred 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 41,306 shares of company stock worth $10,380,120 in the last 90 days. Company 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.

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

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