Mitsubishi UFJ Asset Management UK Ltd. bought a new stake in shares of Broadcom Limited (NASDAQ:AVGO) during the second quarter, according to its most recent filing with the SEC. The institutional investor bought 3,490 shares of the semiconductor manufacturer’s stock, valued at approximately $813,000.
A number of other institutional investors have also recently added to or reduced their stakes in AVGO. FNY Managed Accounts LLC bought a new stake in Broadcom Limited during the first quarter worth $100,000. AllSquare Wealth Management LLC increased its stake in Broadcom Limited by 38.0% in the first quarter. AllSquare Wealth Management LLC now owns 483 shares of the semiconductor manufacturer’s stock valued at $106,000 after buying an additional 133 shares in the last quarter. Crestwood Advisors Group LLC acquired a new stake in Broadcom Limited during the first quarter valued at approximately $111,000. Archford Capital Strategies LLC increased its stake in Broadcom Limited by 45.4% in the first quarter. Archford Capital Strategies LLC now owns 538 shares of the semiconductor manufacturer’s stock valued at $118,000 after buying an additional 168 shares in the last quarter. Finally, D. Scott Neal Inc. acquired a new stake in Broadcom Limited during the second quarter valued at approximately $127,000. 90.94% of the stock is currently owned by hedge funds and other institutional investors.
Broadcom Limited (AVGO) opened at 253.42 on Thursday. The firm has a 50-day moving average price of $246.89 and a 200 day moving average price of $230.00. Broadcom Limited has a 12 month low of $158.75 and a 12 month high of $258.49. The stock’s market capitalization is $103.04 billion. Broadcom Limited also was the recipient of some unusual options trading on Monday. Stock traders purchased 10,775 call options on the company. This represents an increase of 177% compared to the average daily volume of 3,886 call options.
Broadcom Limited (NASDAQ:AVGO) last released its earnings results on Thursday, June 1st. The semiconductor manufacturer reported $3.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.50 by $0.19. The firm had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.11 billion. Broadcom Limited had a positive return on equity of 24.15% and a negative net margin of 1.54%. Broadcom Limited’s revenue was up 17.9% compared to the same quarter last year. During the same period last year, the business posted $2.53 earnings per share. Equities analysts anticipate that Broadcom Limited will post $15.78 earnings per share for the current year.
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Several equities research analysts recently commented on AVGO shares. Zacks Investment Research downgraded shares of Broadcom Limited from a “buy” rating to a “hold” rating in a research report on Tuesday, May 2nd. Instinet restated a “buy” rating and set a $260.00 price target (up previously from $230.00) on shares of Broadcom Limited in a report on Wednesday, May 17th. Royal Bank Of Canada reiterated a “top pick” rating and issued a $250.00 price objective on shares of Broadcom Limited in a research note on Tuesday, May 23rd. Morgan Stanley reiterated an “overweight” rating and issued a $265.00 price objective (up previously from $245.00) on shares of Broadcom Limited in a research note on Thursday, May 25th. Finally, Mizuho reiterated a “buy” rating and issued a $265.00 price objective (up previously from $250.00) on shares of Broadcom Limited in a research note on Sunday, May 28th. One research analyst has rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Broadcom Limited has an average rating of “Buy” and an average target price of $263.22.
In other Broadcom Limited news, insider Kirsten M. Spears sold 1,306 shares of Broadcom Limited stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $254.15, for a total transaction of $331,919.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Bryan Ingram sold 10,000 shares of Broadcom Limited stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $244.59, for a total value of $2,445,900.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,306 shares of company stock valued at $10,380,120. 3.60% of the stock is currently owned by company insiders.
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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