Optimum Investment Advisors Has $548,000 Position in Broadcom Limited (AVGO)
Optimum Investment Advisors lessened its stake in shares of Broadcom Limited (NASDAQ:AVGO) by 13.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,350 shares of the semiconductor manufacturer’s stock after selling 380 shares during the quarter. Optimum Investment Advisors’ holdings in Broadcom Limited were worth $548,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of AVGO. Discovery Capital Management LLC CT boosted its stake in Broadcom Limited by 88.9% in the 2nd quarter. Discovery Capital Management LLC CT now owns 555,282 shares of the semiconductor manufacturer’s stock valued at $129,408,000 after buying an additional 261,300 shares in the last quarter. AHL Partners LLP grew its position in Broadcom Limited by 263.3% in the second quarter. AHL Partners LLP now owns 8,346 shares of the semiconductor manufacturer’s stock valued at $1,945,000 after acquiring an additional 6,049 shares during the period. L & S Advisors Inc grew its position in Broadcom Limited by 43.2% in the second quarter. L & S Advisors Inc now owns 38,870 shares of the semiconductor manufacturer’s stock valued at $9,059,000 after acquiring an additional 11,721 shares during the period. Zurich Insurance Group Ltd FI bought a new stake in Broadcom Limited in the second quarter valued at $16,332,000. Finally, QCM Cayman Ltd. bought a new stake in Broadcom Limited in the second quarter valued at $343,000. Institutional investors and hedge funds own 89.71% of the company’s stock.
AVGO has been the subject of several recent analyst reports. B. Riley reiterated an “avgo (” rating and set a $305.00 price objective on shares of Broadcom Limited in a research note on Monday, August 21st. Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $285.00 target price on shares of Broadcom Limited in a research note on Wednesday, July 12th. Vetr downgraded shares of Broadcom Limited from a “strong-buy” rating to a “buy” rating and set a $260.93 target price on the stock. in a research note on Monday, July 10th. Mizuho reaffirmed a “buy” rating and issued a $275.00 target price on shares of Broadcom Limited in a report on Monday, July 3rd. Finally, UBS AG reaffirmed a “buy” rating and issued a $265.00 target price on shares of Broadcom Limited in a report on Monday, June 26th. One equities research analyst has rated the stock with a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $276.80.
Shares of Broadcom Limited (NASDAQ:AVGO) traded down 0.22% on Monday, reaching $242.01. 595,821 shares of the company’s stock were exchanged. The stock has a market cap of $98.74 billion, a P/E ratio of 184.32 and a beta of 1.08. The company’s 50 day moving average price is $249.11 and its 200-day moving average price is $236.86. Broadcom Limited has a 52-week low of $160.62 and a 52-week high of $259.36.
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 the Zacks’ consensus estimate of $4.03 by $0.07. Broadcom Limited had a return on equity of 26.82% and a net margin of 3.12%. The business had revenue of $4.47 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same period in the previous year, the company posted $2.89 earnings per share. The firm’s revenue for the quarter was up 17.5% on a year-over-year basis. Equities analysts forecast that Broadcom Limited will post $15.91 EPS for the current fiscal year.
The firm also recently declared 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. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date was Monday, September 18th. Broadcom Limited’s payout ratio is 348.72%.
In related news, SVP Charlie B. Kawwas sold 1,788 shares of the business’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $247.28, for a total transaction of $442,136.64. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Hock E. Tan sold 20,000 shares of the business’s stock in a transaction 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. Insiders have sold a total of 51,788 shares of company stock worth $12,692,037 over the last 90 days. Company insiders own 3.60% of the company’s stock.
Broadcom Limited 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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