Investors sold shares of Broadcom Limited (NASDAQ:AVGO) on strength during trading hours on Monday. $295.04 million flowed into the stock on the tick-up and $332.45 million flowed out of the stock on the tick-down, for a money net flow of $37.41 million out of the stock. Of all stocks tracked, Broadcom Limited had the 0th highest net out-flow for the day. Broadcom Limited traded up $8.33 for the day and closed at $261.23
A number of research firms recently commented on AVGO. Sanford C. Bernstein set a $285.00 target price on shares of Broadcom Limited and gave the company a “buy” rating in a research report on Monday. KeyCorp reaffirmed an “overweight” rating and issued a $280.00 target price on shares of Broadcom Limited in a research report on Wednesday, August 23rd. Rosenblatt Securities reiterated a “buy” rating and set a $270.00 price target on shares of Broadcom Limited in a research note on Wednesday, August 23rd. UBS AG reiterated an “overweight” rating on shares of Broadcom Limited in a research note on Thursday, August 24th. Finally, Robert W. Baird reiterated an “outperform” rating and set a $290.00 price target (up previously from $260.00) on shares of Broadcom Limited in a research note on Friday, August 25th. One analyst has rated the stock with a sell rating, one has given a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the company. Broadcom Limited has an average rating of “Buy” and a consensus price target of $277.51.
The company has a market capitalization of $107.42 billion, a price-to-earnings ratio of 200.5407 and a beta of 1.08. The stock has a 50 day moving average price of $245.67 and a 200 day moving average price of $242.28.
Broadcom Limited (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share for the quarter, beating the consensus estimate of $4.03 by $0.07. Broadcom Limited had a return on equity of 26.82% and a net margin of 3.12%. The company had revenue of $4.47 billion during the quarter, compared to analysts’ expectations of $4.46 billion. During the same period in the prior year, the business earned $2.89 earnings per share. Broadcom Limited’s revenue for the quarter was up 17.5% compared to the same quarter last year. Equities research analysts expect that Broadcom Limited will post $15.91 EPS for the current year.
In related news, SVP Charlie B. Kawwas sold 1,788 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $247.28, for a total value of $442,136.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Bryan Ingram sold 30,000 shares of the firm’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $244.01, for a total value of $7,320,300.00. The disclosure for this sale can be found here. Insiders sold 81,788 shares of company stock valued at $20,054,837 over the last three months. 3.60% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. FNY Managed Accounts LLC bought a new position in Broadcom Limited in the first quarter worth $100,000. Mountain Capital Investment Advisors Inc bought a new position in Broadcom Limited in the second quarter worth $113,000. Shine Investment Advisory Services Inc. bought a new position in Broadcom Limited in the second quarter worth $116,000. Archford Capital Strategies LLC lifted its position in Broadcom Limited by 45.4% in the first quarter. Archford Capital Strategies LLC now owns 538 shares of the semiconductor manufacturer’s stock worth $118,000 after purchasing an additional 168 shares during the period. Finally, D. Scott Neal Inc. bought a new position in Broadcom Limited in the second quarter worth $127,000. 89.79% of the stock is owned by hedge funds and other institutional investors.
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.
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