Broadcom Limited (AVGO) Shares Bought by Stevens Capital Management LP
Stevens Capital Management LP raised its position in shares of Broadcom Limited (NASDAQ:AVGO) by 39.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,165 shares of the semiconductor manufacturer’s stock after purchasing an additional 17,820 shares during the period. Stevens Capital Management LP’s holdings in Broadcom Limited were worth $14,721,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. FNY Managed Accounts LLC bought a new stake in shares of Broadcom Limited during the first quarter worth $100,000. AllSquare Wealth Management LLC grew its stake in shares of Broadcom Limited by 38.0% during the first quarter. AllSquare Wealth Management LLC now owns 483 shares of the semiconductor manufacturer’s stock worth $106,000 after buying an additional 133 shares during the last quarter. Shine Investment Advisory Services Inc. bought a new stake in shares of Broadcom Limited during the second quarter worth $116,000. Archford Capital Strategies LLC grew its stake in shares of Broadcom Limited by 45.4% during the first quarter. Archford Capital Strategies LLC now owns 538 shares of the semiconductor manufacturer’s stock worth $118,000 after buying an additional 168 shares during the last quarter. Finally, D. Scott Neal Inc. bought a new stake in shares of Broadcom Limited during the second quarter worth $127,000. Institutional investors and hedge funds own 90.04% of the company’s stock.
In other Broadcom Limited news, SVP Bryan Ingram sold 30,000 shares of Broadcom Limited stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $244.01, for a total value of $7,320,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Charlie B. Kawwas sold 1,788 shares of Broadcom Limited stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $247.28, for a total transaction of $442,136.64. The disclosure for this sale can be found here. Insiders sold 41,788 shares of company stock valued at $10,208,337 over the last ninety days. Corporate insiders own 3.60% of the company’s stock.
Broadcom Limited (AVGO) traded up 1.46% during midday trading on Friday, hitting $250.55. 5,006,589 shares of the company were exchanged. The firm has a market capitalization of $102.22 billion, a PE ratio of 190.82 and a beta of 1.07. Broadcom Limited has a 1-year low of $160.62 and a 1-year high of $259.36. The stock has a 50 day moving average of $249.04 and a 200 day moving average of $236.06.
Broadcom Limited (NASDAQ:AVGO) last issued its earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.03 by $0.07. The business had revenue of $4.47 billion during 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 business’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.89 earnings per share. On average, equities analysts predict that Broadcom Limited will post $15.92 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Tuesday, September 19th will be issued a $1.02 dividend. The ex-dividend date is Monday, September 18th. This represents a $4.08 annualized dividend and a yield of 1.63%. Broadcom Limited’s dividend payout ratio (DPR) is presently 348.72%.
A number of analysts have weighed in on the stock. B. Riley reaffirmed a “buy” rating and set a $305.00 target price on shares of Broadcom Limited in a research note on Tuesday, May 30th. UBS AG reaffirmed a “buy” rating and set a $265.00 target price (up previously from $245.00) on shares of Broadcom Limited in a research note on Monday, June 5th. Cowen and Company reaffirmed a “buy” rating and set a $260.00 target price on shares of Broadcom Limited in a research note on Friday, August 11th. Craig Hallum reaffirmed a “buy” rating on shares of Broadcom Limited in a research note on Wednesday. Finally, Pacific Crest reaffirmed an “overweight” rating and set a $280.00 target price on shares of Broadcom Limited in a research note on Wednesday, June 21st. Two investment analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $274.48.
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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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