Caxton Associates LP Sells 36,100 Shares of Broadcom Limited (NASDAQ:AVGO)

Caxton Associates LP reduced its position in shares of Broadcom Limited (NASDAQ:AVGO) by 83.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,000 shares of the semiconductor manufacturer’s stock after selling 36,100 shares during the quarter. Caxton Associates LP’s holdings in Broadcom Limited were worth $1,631,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AVGO. BlackRock Inc. boosted its position in shares of Broadcom Limited by 2,707.3% in the 1st quarter. BlackRock Inc. now owns 23,131,935 shares of the semiconductor manufacturer’s stock worth $5,064,971,000 after purchasing an additional 22,307,935 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Broadcom Limited by 7.0% in the 1st quarter. Vanguard Group Inc. now owns 26,768,435 shares of the semiconductor manufacturer’s stock worth $5,861,217,000 after purchasing an additional 1,746,144 shares in the last quarter. Harbour Capital Advisors LLC boosted its position in shares of Broadcom Limited by 22,924.6% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,530,905 shares of the semiconductor manufacturer’s stock worth $6,569,000 after purchasing an additional 1,524,256 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Broadcom Limited by 29.3% in the 1st quarter. Wellington Management Group LLP now owns 6,710,760 shares of the semiconductor manufacturer’s stock worth $1,469,388,000 after purchasing an additional 1,519,598 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of Broadcom Limited by 18.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,704,177 shares of the semiconductor manufacturer’s stock worth $2,028,442,000 after purchasing an additional 1,338,695 shares in the last quarter. Institutional investors own 89.65% of the company’s stock.

Shares of Broadcom Limited (NASDAQ AVGO) traded down 0.55% during midday trading on Wednesday, hitting $241.29. 680,720 shares of the stock traded hands. The stock has a market cap of $98.44 billion, a price-to-earnings ratio of 183.77 and a beta of 1.08. Broadcom Limited has a one year low of $160.62 and a one year high of $259.36. The firm has a 50-day moving average price of $245.16 and a 200 day moving average price of $239.72.

Broadcom Limited (NASDAQ:AVGO) last posted its quarterly earnings data 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 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 prior year, the firm earned $2.89 EPS. Broadcom Limited’s quarterly revenue was up 17.5% compared to the same quarter last year. Analysts anticipate that Broadcom Limited will post $15.91 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Tuesday, September 19th were issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend was Monday, September 18th. Broadcom Limited’s dividend payout ratio (DPR) is presently 348.72%.

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A number of analysts have commented on the company. Cowen and Company reaffirmed a “buy” rating and set a $260.00 price target on shares of Broadcom Limited in a research report on Friday, August 11th. UBS AG reissued a “buy” rating and issued a $265.00 price objective on shares of Broadcom Limited in a report on Monday, June 26th. B. Riley reissued a “buy” rating and issued a $305.00 price objective on shares of Broadcom Limited in a report on Saturday, August 26th. Craig Hallum restated a “buy” rating on shares of Broadcom Limited in a research note on Wednesday, September 13th. Finally, Pacific Crest restated an “overweight” rating and issued a $280.00 price target on shares of Broadcom Limited in a research note on Wednesday, June 21st. One equities research analyst has rated the stock with a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $277.22.

In other news, SVP Bryan Ingram sold 30,000 shares of the firm’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $244.01, for a total transaction of $7,320,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Charlie B. Kawwas sold 1,788 shares of the firm’s stock in a transaction dated 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. Over the last three months, insiders sold 81,788 shares of company stock valued at $20,054,837. Insiders own 3.60% of the company’s stock.

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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