California Public Employees Retirement System raised its holdings in Broadcom Limited (NASDAQ:AVGO) by 2.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 819,314 shares of the semiconductor manufacturer’s stock after purchasing an additional 18,600 shares during the quarter. California Public Employees Retirement System owned about 0.20% of Broadcom Limited worth $190,941,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Broadcom Limited by 3.0% during the second quarter. Vanguard Group Inc. now owns 27,561,770 shares of the semiconductor manufacturer’s stock worth $6,423,271,000 after acquiring an additional 793,335 shares during the period. BlackRock Inc. increased its stake in shares of Broadcom Limited by 3.5% during the second quarter. BlackRock Inc. now owns 23,930,917 shares of the semiconductor manufacturer’s stock worth $5,577,099,000 after acquiring an additional 798,982 shares during the period. State Street Corp increased its stake in shares of Broadcom Limited by 3.8% during the first quarter. State Street Corp now owns 15,805,653 shares of the semiconductor manufacturer’s stock worth $3,460,804,000 after acquiring an additional 583,498 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Broadcom Limited by 18.2% during the second quarter. Ameriprise Financial Inc. now owns 8,704,177 shares of the semiconductor manufacturer’s stock worth $2,028,442,000 after acquiring an additional 1,338,695 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of Broadcom Limited by 29.3% during 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 acquiring an additional 1,519,598 shares during the period. Institutional investors own 89.70% of the company’s stock.

In other Broadcom Limited news, SVP Charlie B. Kawwas sold 1,788 shares of Broadcom Limited stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $247.28, for a total value of $442,136.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Hock E. Tan sold 20,000 shares of Broadcom Limited stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $246.48, for a total transaction of $4,929,600.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,788 shares of company stock valued at $12,692,037. 3.60% of the stock is currently owned by corporate insiders.

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Broadcom Limited (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 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 firm’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period last year, the company posted $2.89 earnings per share.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Tuesday, September 19th will be issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 1.68%. 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 recently issued reports on AVGO shares. Morgan Stanley reiterated an “overweight” rating and set a $265.00 price target (up from $245.00) on shares of Broadcom Limited in a research note on Thursday, May 25th. Mizuho restated a “buy” rating and set a $265.00 target price (up from $250.00) on shares of Broadcom Limited in a research report on Sunday, May 28th. B. Riley restated a “buy” rating and set a $305.00 target price on shares of Broadcom Limited in a research report on Tuesday, May 30th. Pacific Crest restated an “overweight” rating and set a $260.00 target price on shares of Broadcom Limited in a research report on Wednesday, May 31st. Finally, Royal Bank Of Canada upped their target price on shares of Broadcom Limited from $250.00 to $260.00 and gave the stock a “top pick” rating in a research report on Wednesday, May 31st. Two equities research 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 stock. The company presently has a consensus rating of “Buy” and a consensus target price of $276.74.

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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