Broadcom Limited (AVGO) Shares Sold by Dowling & Yahnke LLC

Dowling & Yahnke LLC lowered its position in Broadcom Limited (NASDAQ:AVGO) by 1.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,452 shares of the semiconductor manufacturer’s stock after selling 20 shares during the period. Dowling & Yahnke LLC’s holdings in Broadcom Limited were worth $338,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Broadcom Limited by 7.0% in the first quarter. Vanguard Group Inc. now owns 26,768,435 shares of the semiconductor manufacturer’s stock worth $5,861,217,000 after buying an additional 1,746,144 shares during the last quarter. BlackRock Inc. increased its stake in Broadcom Limited by 2,707.3% in the first quarter. BlackRock Inc. now owns 23,131,935 shares of the semiconductor manufacturer’s stock worth $5,064,971,000 after buying an additional 22,307,935 shares during the last quarter. State Street Corp increased its stake in Broadcom Limited by 3.8% in the first quarter. State Street Corp now owns 15,805,653 shares of the semiconductor manufacturer’s stock worth $3,460,804,000 after buying an additional 583,498 shares during the last quarter. Wellington Management Group LLP increased its stake in Broadcom Limited by 29.3% in the first quarter. Wellington Management Group LLP now owns 6,710,760 shares of the semiconductor manufacturer’s stock worth $1,469,388,000 after buying an additional 1,519,598 shares during the last quarter. Finally, Jennison Associates LLC increased its stake in Broadcom Limited by 904.2% in the first quarter. Jennison Associates LLC now owns 4,201,357 shares of the semiconductor manufacturer’s stock worth $919,929,000 after buying an additional 3,782,991 shares during the last quarter. Institutional investors own 90.94% of the company’s stock.

Broadcom Limited (NASDAQ:AVGO) opened at 253.69 on Wednesday. Broadcom Limited has a one year low of $158.75 and a one year high of $258.49. The stock’s market cap is $103.15 billion. The company has a 50-day moving average price of $246.37 and a 200-day moving average price of $229.84. Broadcom Limited also was the target of unusually large options trading on Monday. Traders bought 10,775 call options on the company. This represents an increase of 177% compared to the typical daily volume of 3,886 call options.

Broadcom Limited (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, June 1st. The semiconductor manufacturer reported $3.69 EPS for the quarter, topping analysts’ consensus estimates of $3.50 by $0.19. The business had revenue of $4.20 billion for 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%. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.53 earnings per share. On average, analysts anticipate that Broadcom Limited will post $15.78 earnings per share for the current year.

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AVGO has been the topic of a number of research analyst reports. Rosenblatt Securities reiterated a “buy” rating and set a $260.00 target price on shares of Broadcom Limited in a research report on Wednesday, May 31st. Instinet reiterated a “buy” rating and set a $260.00 target price (up from $230.00) on shares of Broadcom Limited in a research report on Wednesday, May 17th. UBS AG reiterated a “buy” rating and set a $265.00 target price on shares of Broadcom Limited in a research report on Monday, June 26th. Sanford C. Bernstein reiterated an “outperform” rating and set a $285.00 target price (up from $265.00) on shares of Broadcom Limited in a research report on Saturday, June 3rd. Finally, Canaccord Genuity reiterated a “buy” rating and set a $272.00 target price (up from $250.00) on shares of Broadcom Limited in a research report on Saturday, June 3rd. One research analyst has rated the stock with a hold rating, thirty-seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $263.22.

In related news, insider Kirsten M. Spears sold 1,306 shares of the business’s 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 document filed with the SEC, which is available through this link. Also, SVP Bryan Ingram sold 30,000 shares of the business’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $253.41, for a total value of $7,602,300.00. The disclosure for this sale can be found here. Insiders have sold 41,306 shares of company stock worth $10,380,120 over the last 90 days. Corporate insiders own 3.60% of the company’s stock.

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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Institutional Ownership by Quarter for Broadcom Limited (NASDAQ:AVGO)

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