Busey Trust CO acquired a new position in shares of Broadcom Limited (NASDAQ:AVGO) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 958 shares of the semiconductor manufacturer’s stock, valued at approximately $223,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position 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 in the last quarter. BlackRock Inc. boosted its position 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 in the last quarter. State Street Corp boosted its position 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 in the last quarter. Wellington Management Group LLP boosted its position 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 in the last quarter. Finally, Jennison Associates LLC boosted its position 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 in the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Limited (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, June 1st. The semiconductor manufacturer reported $3.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.50 by $0.19. Broadcom Limited had a positive return on equity of 24.15% and a negative net margin of 1.54%. The business had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.11 billion. During the same period in the previous year, the firm posted $2.53 earnings per share. The company’s revenue was up 17.9% on a year-over-year basis.

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A number of research analysts recently commented on the company. UBS AG reissued a “buy” rating and issued a $265.00 price target (up from $245.00) on shares of Broadcom Limited in a report on Monday, June 5th. B. Riley reissued a “buy” rating and issued a $305.00 price target on shares of Broadcom Limited in a report on Sunday, June 4th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $285.00 price target on shares of Broadcom Limited in a report on Wednesday, July 12th. Canaccord Genuity reissued a “buy” rating and issued a $272.00 price target (up from $250.00) on shares of Broadcom Limited in a report on Saturday, June 3rd. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $285.00 price target (up from $265.00) on shares of Broadcom Limited in a report on Saturday, June 3rd. Two equities research analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $263.29.

In related news, SVP Bryan Ingram sold 10,000 shares of the business’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $244.59, for a total transaction of $2,445,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kirsten M. Spears sold 1,306 shares of the business’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $254.15, for a total value of $331,919.90. The disclosure for this sale can be found here. Insiders have sold a total of 41,306 shares of company stock valued at $10,380,120 over the last three months. 3.60% of the stock is currently owned by insiders.

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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