1st Global Advisors Inc. Decreases Position in Broadcom Limited (AVGO)

1st Global Advisors Inc. decreased its position in shares of Broadcom Limited (NASDAQ:AVGO) by 2.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,349 shares of the semiconductor manufacturer’s stock after selling 167 shares during the quarter. 1st Global Advisors Inc.’s holdings in Broadcom Limited were worth $1,946,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Verition Fund Management LLC acquired a new stake in shares of Broadcom Limited during the second quarter worth about $868,000. National Asset Management Inc. lifted its holdings in shares of Broadcom Limited by 7.9% during the second quarter. National Asset Management Inc. now owns 4,583 shares of the semiconductor manufacturer’s stock worth $1,069,000 after purchasing an additional 335 shares during the period. Castleark Management LLC lifted its holdings in shares of Broadcom Limited by 18,065.3% during the second quarter. Castleark Management LLC now owns 112,625 shares of the semiconductor manufacturer’s stock worth $26,247,000 after purchasing an additional 112,005 shares during the period. Intellectus Partners LLC lifted its holdings in shares of Broadcom Limited by 6.0% during the second quarter. Intellectus Partners LLC now owns 1,681 shares of the semiconductor manufacturer’s stock worth $392,000 after purchasing an additional 95 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Broadcom Limited by 11.6% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 61,690 shares of the semiconductor manufacturer’s stock worth $14,380,000 after purchasing an additional 6,404 shares during the period. 89.71% of the stock is owned by hedge funds and other institutional investors.

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In other news, SVP Bryan Ingram sold 10,000 shares of Broadcom Limited stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $240.62, for a total value of $2,406,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Charlie B. Kawwas sold 1,788 shares of Broadcom Limited stock in a transaction on Monday, September 11th. The shares were sold at an average price of $247.28, for a total value of $442,136.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,788 shares of company stock valued at $15,098,237. Company insiders own 3.60% of the company’s stock.

A number of research firms recently commented on AVGO. UBS AG reaffirmed a “buy” rating and set a $265.00 target price on shares of Broadcom Limited in a report on Monday, June 26th. B. Riley reaffirmed a “buy” rating and set a $305.00 target price on shares of Broadcom Limited in a report on Saturday, August 26th. Vetr raised Broadcom Limited from a “hold” rating to a “buy” rating and set a $258.25 target price for the company in a report on Monday, August 14th. BidaskClub downgraded Broadcom Limited from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. Finally, Bank of America Corporation reaffirmed a “buy” rating and set a $300.00 target price on shares of Broadcom Limited in a report on Friday, October 6th. One equities research analyst has rated the stock with a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $276.93.

Shares of Broadcom Limited (AVGO) traded up 0.44% during mid-day trading on Friday, reaching $249.83. The company’s stock had a trading volume of 539,114 shares. The company’s 50-day moving average is $245.37 and its 200 day moving average is $239.25. The firm has a market capitalization of $101.93 billion, a P/E ratio of 190.27 and a beta of 1.08. Broadcom Limited has a 1-year low of $160.62 and a 1-year high of $259.36.

Broadcom Limited (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, August 24th. The semiconductor manufacturer reported $4.10 EPS for the quarter, beating the Zacks’ consensus estimate of $4.03 by $0.07. The business had revenue of $4.47 billion during the quarter, compared to the consensus estimate of $4.46 billion. Broadcom Limited had a return on equity of 26.82% and a net margin of 3.12%. The business’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.89 earnings per share. On average, analysts expect that Broadcom Limited will post $15.91 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Tuesday, September 19th were given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend was Monday, September 18th. Broadcom Limited’s dividend payout ratio is currently 348.72%.

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.

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

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