Oak Ridge Investments LLC Has $1.98 Million Holdings in Broadcom Limited (AVGO)
Oak Ridge Investments LLC grew its position in Broadcom Limited (NASDAQ:AVGO) by 8.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,479 shares of the semiconductor manufacturer’s stock after purchasing an additional 634 shares during the period. Oak Ridge Investments LLC’s holdings in Broadcom Limited were worth $1,976,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of AVGO. Waldron LP acquired a new stake in Broadcom Limited in the first quarter worth $302,000. Capital One National Association raised its holdings in shares of Broadcom Limited by 19.2% during the first quarter. Capital One National Association now owns 3,924 shares of the semiconductor manufacturer’s stock worth $859,000 after acquiring an additional 631 shares during the period. Rhumbline Advisers raised its holdings in shares of Broadcom Limited by 1.2% during the first quarter. Rhumbline Advisers now owns 597,829 shares of the semiconductor manufacturer’s stock worth $130,901,000 after acquiring an additional 7,217 shares during the period. Brick & Kyle Associates raised its holdings in shares of Broadcom Limited by 17.1% during the first quarter. Brick & Kyle Associates now owns 1,025 shares of the semiconductor manufacturer’s stock worth $224,000 after acquiring an additional 150 shares during the period. Finally, Summit Securities Group LLC raised its holdings in shares of Broadcom Limited by 10.6% during the first quarter. Summit Securities Group LLC now owns 13,200 shares of the semiconductor manufacturer’s stock worth $2,890,000 after acquiring an additional 1,261 shares during the period. Institutional investors own 90.04% of the company’s stock.
Shares of Broadcom Limited (NASDAQ AVGO) opened at 248.50 on Tuesday. The firm has a 50-day moving average of $249.79 and a 200 day moving average of $235.28. Broadcom Limited has a 52 week low of $160.62 and a 52 week high of $259.36. The firm has a market cap of $101.14 billion, a PE ratio of 189.26 and a beta of 1.07.
Broadcom Limited (NASDAQ:AVGO) last issued its earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $4.03 by $0.07. The firm had revenue of $4.47 billion during the quarter, compared to analyst estimates of $4.46 billion. Broadcom Limited had a net margin of 3.12% and a return on equity of 26.82%. The company’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter last year, the business earned $2.89 earnings per share. Equities research analysts predict that Broadcom Limited will post $15.92 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders 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 dividend yield of 1.65%. Broadcom Limited’s dividend payout ratio (DPR) is currently 348.72%.
In other news, SVP Bryan Ingram sold 10,000 shares of the firm’s stock in a transaction that occurred 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.60% of the stock is currently owned by company insiders.
AVGO has been the topic of a number of research analyst reports. Morgan Stanley restated an “overweight” rating and set a $265.00 price objective (up from $245.00) on shares of Broadcom Limited in a report on Thursday, May 25th. Mizuho restated a “buy” rating and set a $265.00 price objective (up from $250.00) on shares of Broadcom Limited in a report on Sunday, May 28th. Pacific Crest restated an “overweight” rating and set a $260.00 price objective on shares of Broadcom Limited in a report on Wednesday, May 31st. Cowen and Company raised their price objective on shares of Broadcom Limited from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, June 2nd. Finally, Craig Hallum raised their price objective on shares of Broadcom Limited from $260.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, June 2nd. Two analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $271.98.
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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