British Airways Pensions Investment Management Ltd reduced its position in Broadcom Limited (NASDAQ:AVGO) by 36.3% during the second quarter, Holdings Channel reports. The institutional investor owned 131,297 shares of the semiconductor manufacturer’s stock after selling 74,664 shares during the period. British Airways Pensions Investment Management Ltd’s holdings in Broadcom Limited were worth $30,581,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. Davis R M Inc. raised its position in Broadcom Limited by 4.7% in the second quarter. Davis R M Inc. now owns 1,814 shares of the semiconductor manufacturer’s stock worth $423,000 after buying an additional 81 shares during the period. IFP Advisors Inc raised its position in Broadcom Limited by 13.4% in the second quarter. IFP Advisors Inc now owns 2,169 shares of the semiconductor manufacturer’s stock worth $506,000 after buying an additional 257 shares during the period. Eagle Ridge Investment Management raised its position in Broadcom Limited by 2.7% in the second quarter. Eagle Ridge Investment Management now owns 32,574 shares of the semiconductor manufacturer’s stock worth $7,591,000 after buying an additional 863 shares during the period. Smithfield Trust Co. raised its position in Broadcom Limited by 5.4% in the second quarter. Smithfield Trust Co. now owns 1,447 shares of the semiconductor manufacturer’s stock worth $337,000 after buying an additional 74 shares during the period. Finally, Seatown Holdings Pte. Ltd. bought a new position in Broadcom Limited during the second quarter worth $20,975,000. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Broadcom Limited (NASDAQ AVGO) opened at 251.36 on Wednesday. Broadcom Limited has a 12 month low of $158.75 and a 12 month high of $258.49. The firm’s market capitalization is $102.20 billion. The company has a 50 day moving average price of $245.00 and a 200-day moving average price of $226.55.

Broadcom Limited (NASDAQ:AVGO) last announced its earnings results on Thursday, June 1st. The semiconductor manufacturer reported $3.69 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $4.11 billion. During the same period in the previous year, the company earned $2.53 earnings per share. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. Equities research analysts expect that Broadcom Limited will post $15.78 EPS for the current fiscal year.

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A number of equities analysts have weighed in on AVGO shares. Zacks Investment Research lowered Broadcom Limited from a “buy” rating to a “hold” rating in a research note on Tuesday, May 2nd. Instinet reissued a “buy” rating and set a $260.00 price objective (up previously from $230.00) on shares of Broadcom Limited in a research note on Wednesday, May 17th. Royal Bank Of Canada reissued a “top pick” rating and set a $250.00 price objective on shares of Broadcom Limited in a research note on Tuesday, May 23rd. Morgan Stanley reissued an “overweight” rating and set 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 reissued a “buy” rating and set a $265.00 price objective (up previously from $250.00) on shares of Broadcom Limited in a research note on Sunday, May 28th. Two research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $263.22.

In other 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 document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Bryan Ingram sold 30,000 shares of Broadcom Limited stock in a transaction dated Thursday, June 8th. The stock was 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. Over the last ninety days, insiders have sold 41,306 shares of company stock worth $10,380,120. Corporate insiders own 3.60% of the company’s stock.

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

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