Capital International Investors Raises Position in Broadcom Limited (AVGO)
Capital International Investors increased its stake in shares of Broadcom Limited (NASDAQ:AVGO) by 0.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,598,254 shares of the semiconductor manufacturer’s stock after buying an additional 1,367 shares during the period. Capital International Investors owned 0.39% of Broadcom Limited worth $372,473,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. FNY Managed Accounts LLC acquired a new stake in Broadcom Limited in the 1st quarter valued at about $100,000. AllSquare Wealth Management LLC raised 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 worth $106,000 after acquiring an additional 133 shares during the last quarter. Shine Investment Advisory Services Inc. bought a new position in shares of Broadcom Limited in the second quarter worth about $116,000. Archford Capital Strategies LLC raised 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 worth $118,000 after acquiring an additional 168 shares during the last quarter. Finally, D. Scott Neal Inc. bought a new position in shares of Broadcom Limited in the second quarter worth about $127,000. Institutional investors and hedge funds own 89.71% of the company’s stock.
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In other news, insider Hock E. Tan sold 20,000 shares of the business’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $246.48, for a total transaction of $4,929,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Bryan Ingram sold 30,000 shares of the business’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $244.01, for a total transaction of $7,320,300.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,788 shares of company stock worth $12,692,037. Corporate insiders own 3.60% of the company’s stock.
A number of brokerages have recently issued reports on AVGO. Vetr upgraded shares of Broadcom Limited from a “hold” rating to a “buy” rating and set a $261.95 target price on the stock in a research report on Monday, August 28th. Royal Bank Of Canada reissued a “buy” rating and issued a $285.00 price target (up previously from $270.00) on shares of Broadcom Limited in a report on Saturday, August 26th. UBS AG reissued a “buy” rating and issued a $265.00 price target on shares of Broadcom Limited in a report on Monday, June 26th. B. Riley restated a “buy” rating and issued a $305.00 price objective on shares of Broadcom Limited in a research report on Thursday, August 31st. Finally, BidaskClub cut shares of Broadcom Limited from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th. One equities research analyst has rated the stock with a hold rating, thirty have given a buy rating and four have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $276.80.
Broadcom Limited (NASDAQ:AVGO) traded down 0.460% during mid-day trading on Monday, reaching $241.425. The company had a trading volume of 716,204 shares. Broadcom Limited has a one year low of $160.62 and a one year high of $259.36. The company has a market capitalization of $98.50 billion, a P/E ratio of 183.873 and a beta of 1.08. The stock has a 50 day moving average price of $249.11 and a 200 day moving average price of $236.86.
Broadcom Limited (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.03 by $0.07. The business had revenue of $4.47 billion during the quarter, compared to the consensus estimate of $4.46 billion. Broadcom Limited had a net margin of 3.12% and a return on equity of 26.82%. Broadcom Limited’s revenue was up 17.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.89 EPS. On average, equities analysts expect that Broadcom Limited will post $15.91 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Tuesday, September 19th were issued a dividend of $1.02 per share. The ex-dividend date was Monday, September 18th. This represents a $4.08 annualized dividend and a yield of 1.68%. Broadcom Limited’s payout ratio is 348.72%.
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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