CI Global Investments Inc. Has $150.17 Million Holdings in Broadcom Limited (AVGO)
CI Global Investments Inc. lessened its holdings in shares of Broadcom Limited (NASDAQ:AVGO) by 0.0% in the second quarter, according to its most recent filing with the SEC. The firm owned 644,380 shares of the semiconductor manufacturer’s stock after selling 254 shares during the quarter. Broadcom Limited comprises approximately 2.8% of CI Global Investments Inc.’s holdings, making the stock its 13th largest position. CI Global Investments Inc. owned approximately 0.16% of Broadcom Limited worth $150,173,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. FNY Managed Accounts LLC acquired a new position in Broadcom Limited during the 1st quarter worth $100,000. AllSquare Wealth Management LLC boosted its position in Broadcom Limited by 38.0% during the 1st quarter. AllSquare Wealth Management LLC now owns 483 shares of the semiconductor manufacturer’s stock worth $106,000 after acquiring an additional 133 shares during the period. Shine Investment Advisory Services Inc. acquired a new position in Broadcom Limited during the 2nd quarter worth $116,000. Archford Capital Strategies LLC boosted its position in Broadcom Limited by 45.4% during the 1st quarter. Archford Capital Strategies LLC now owns 538 shares of the semiconductor manufacturer’s stock worth $118,000 after acquiring an additional 168 shares during the period. Finally, D. Scott Neal Inc. acquired a new position in Broadcom Limited during the 2nd quarter worth $127,000. Institutional investors own 90.04% of the company’s stock.
In related news, 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 value of $2,445,900.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 3.60% of the stock is currently owned by insiders.
Broadcom Limited (NASDAQ:AVGO) traded down 0.99% during mid-day trading on Friday, hitting $244.11. The stock had a trading volume of 1,810,040 shares. Broadcom Limited has a 52 week low of $158.75 and a 52 week high of $259.36. The company has a market capitalization of $99.35 billion, a P/E ratio of 185.92 and a beta of 1.07. The stock’s 50-day moving average is $249.89 and its 200 day moving average is $234.79.
Broadcom Limited (NASDAQ:AVGO) last released its earnings results 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 the consensus estimate of $4.46 billion. Broadcom Limited had a return on equity of 26.82% and a net margin of 3.12%. Broadcom Limited’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.89 earnings per share. Equities 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. Investors of record on Tuesday, September 19th will be given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Monday, September 18th. Broadcom Limited’s dividend payout ratio is currently 348.72%.
A number of research analysts have issued reports on the company. B. Riley reiterated a “buy” rating and set a $305.00 price target on shares of Broadcom Limited in a research report on Tuesday, May 30th. UBS AG restated a “buy” rating and issued a $265.00 price objective (up previously from $245.00) on shares of Broadcom Limited in a report on Monday, June 5th. Cowen and Company restated a “buy” rating and issued a $260.00 price objective on shares of Broadcom Limited in a report on Friday, August 11th. Pacific Crest restated an “overweight” rating and issued a $280.00 price objective on shares of Broadcom Limited in a report on Wednesday, June 21st. Finally, Robert W. Baird restated an “outperform” rating and issued a $290.00 price objective (up previously from $260.00) on shares of Broadcom Limited in a report on Friday, August 25th. Two investment analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and two have given a strong buy rating to the stock. Broadcom Limited presently has a consensus rating of “Buy” and an average price target of $271.98.
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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