Logan Capital Management Inc. cut its holdings in shares of Broadcom Limited (NASDAQ:AVGO) by 1.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 162,288 shares of the semiconductor manufacturer’s stock after selling 1,831 shares during the quarter. Broadcom Limited comprises 2.8% of Logan Capital Management Inc.’s investment portfolio, making the stock its 3rd biggest position. Logan Capital Management Inc.’s holdings in Broadcom Limited were worth $37,821,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in AVGO. Peapack Gladstone Financial Corp raised its holdings in Broadcom Limited by 0.4% in the 1st quarter. Peapack Gladstone Financial Corp now owns 2,148 shares of the semiconductor manufacturer’s stock valued at $470,000 after acquiring an additional 9 shares during the last quarter. Spectrum Management Group Inc. lifted its stake in Broadcom Limited by 0.4% in the 2nd quarter. Spectrum Management Group Inc. now owns 2,365 shares of the semiconductor manufacturer’s stock worth $551,000 after purchasing an additional 10 shares in the last quarter. Private Trust Co. NA lifted its stake in Broadcom Limited by 0.7% in the 2nd quarter. Private Trust Co. NA now owns 1,977 shares of the semiconductor manufacturer’s stock worth $460,000 after purchasing an additional 13 shares in the last quarter. IHT Wealth Management LLC lifted its stake in Broadcom Limited by 1.4% in the 1st quarter. IHT Wealth Management LLC now owns 1,094 shares of the semiconductor manufacturer’s stock worth $238,000 after purchasing an additional 15 shares in the last quarter. Finally, CWA Asset Management Group LLC lifted its stake in Broadcom Limited by 0.9% in the 2nd quarter. CWA Asset Management Group LLC now owns 1,917 shares of the semiconductor manufacturer’s stock worth $447,000 after purchasing an additional 17 shares in the last quarter. 89.71% of the stock is owned by institutional investors.

Broadcom Limited (NASDAQ:AVGO) traded down 0.29% during midday trading on Tuesday, reaching $239.78. The company had a trading volume of 774,522 shares. The firm’s 50-day moving average price is $246.90 and its 200 day moving average price is $238.00. Broadcom Limited has a 12 month low of $160.62 and a 12 month high of $259.36. The firm has a market capitalization of $97.83 billion, a PE ratio of 182.62 and a beta of 1.08.

Broadcom Limited (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.03 by $0.07. Broadcom Limited had a net margin of 3.12% and a return on equity of 26.82%. The firm had revenue of $4.47 billion for the quarter, compared to the consensus estimate of $4.46 billion. During the same quarter in the previous year, the firm posted $2.89 EPS. The firm’s quarterly revenue was up 17.5% on a year-over-year basis. Equities analysts anticipate that Broadcom Limited will post $15.91 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Tuesday, September 19th were given a $1.02 dividend. The ex-dividend date of this dividend was Monday, September 18th. This represents a $4.08 dividend on an annualized basis and a yield of 1.70%. Broadcom Limited’s payout ratio is currently 348.72%.

Several research analysts have recently weighed in on the company. Vetr cut Broadcom Limited from a “buy” rating to a “hold” rating and set a $261.95 target price on the stock. in a report on Monday, September 4th. Zacks Investment Research raised Broadcom Limited from a “hold” rating to a “buy” rating and set a $272.00 price target for the company in a report on Tuesday, August 29th. Morgan Stanley reiterated a “buy” rating and set a $290.00 price objective on shares of Broadcom Limited in a research report on Friday, August 25th. Bank of America Corporation reiterated a “buy” rating and set a $300.00 price objective on shares of Broadcom Limited in a research report on Friday, August 25th. Finally, KeyCorp reiterated an “overweight” rating on shares of Broadcom Limited in a research report on Thursday, September 14th. One 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. Broadcom Limited has a consensus rating of “Buy” and a consensus target price of $276.80.

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In related news, SVP Charlie B. Kawwas sold 1,788 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was 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 SEC, which is accessible through the SEC website. Also, SVP Bryan Ingram sold 30,000 shares of the 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 disclosure for this sale can be found here. Over the last three months, insiders sold 61,788 shares of company stock valued at $15,098,237. 3.60% of the stock is currently owned by corporate insiders.

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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