Level Four Advisory Services LLC Has $546,000 Position in Broadcom Limited (AVGO)
Level Four Advisory Services LLC lessened its stake in shares of Broadcom Limited (NASDAQ:AVGO) by 39.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,513 shares of the semiconductor manufacturer’s stock after selling 1,605 shares during the period. Level Four Advisory Services LLC’s holdings in Broadcom Limited were worth $546,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of AVGO. Waldron LP bought a new position in Broadcom Limited during the 1st quarter valued at approximately $302,000. Comerica Securities Inc. increased its position in Broadcom Limited by 116.2% during the 1st quarter. Comerica Securities Inc. now owns 10,912 shares of the semiconductor manufacturer’s stock valued at $2,389,000 after buying an additional 5,865 shares in the last quarter. Alliancebernstein L.P. increased its position in Broadcom Limited by 1.2% during the 1st quarter. Alliancebernstein L.P. now owns 1,483,158 shares of the semiconductor manufacturer’s stock valued at $324,752,000 after buying an additional 16,952 shares in the last quarter. AXA increased its position in Broadcom Limited by 2.1% during the 1st quarter. AXA now owns 124,876 shares of the semiconductor manufacturer’s stock valued at $27,343,000 after buying an additional 2,542 shares in the last quarter. Finally, Roundview Capital LLC bought a new position in Broadcom Limited during the 1st quarter valued at approximately $242,000. 89.65% of the stock is owned by institutional investors.
In other Broadcom Limited news, SVP Bryan Ingram sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $244.01, for a total value of $7,320,300.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Charlie B. Kawwas sold 1,788 shares of the firm’s stock in a transaction that occurred on 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 a total of 61,788 shares of company stock worth $15,098,237 over the last three months. Corporate insiders own 3.60% of the company’s stock.
Shares of Broadcom Limited (NASDAQ:AVGO) traded down 1.53% during midday trading on Tuesday, reaching $242.90. The company’s stock had a trading volume of 1,168,652 shares. The company has a 50 day moving average price of $245.16 and a 200-day moving average price of $239.72. The stock has a market capitalization of $99.10 billion, a PE ratio of 185.00 and a beta of 1.08. Broadcom Limited has a 52 week low of $160.62 and a 52 week high of $259.36.
Broadcom Limited (NASDAQ:AVGO) last released 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 net margin of 3.12% and a return on equity of 26.82%. The business had revenue of $4.47 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same period last year, the company posted $2.89 EPS. The business’s revenue was up 17.5% on a year-over-year basis. On average, equities research analysts expect that Broadcom Limited will post $15.91 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Tuesday, September 19th were paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend was Monday, September 18th. Broadcom Limited’s dividend payout ratio (DPR) is 348.72%.
A number of research firms have commented on AVGO. Pacific Crest reissued an “overweight” rating and issued a $280.00 target price on shares of Broadcom Limited in a report on Wednesday, June 21st. UBS AG reissued a “buy” rating and issued a $265.00 target price on shares of Broadcom Limited in a report on Monday, June 26th. Royal Bank Of Canada reissued a “top pick” rating and issued a $270.00 target price on shares of Broadcom Limited in a report on Friday, June 30th. Mizuho reissued a “buy” rating and issued a $275.00 target price on shares of Broadcom Limited in a report on Monday, July 3rd. Finally, Vetr raised Broadcom Limited from a “buy” rating to a “strong-buy” rating and set a $260.93 target price for the company in a report on Tuesday, July 4th. One analyst has rated the stock with a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $277.22.
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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