Ingalls & Snyder LLC boosted its stake in shares of Broadcom Limited (NASDAQ:AVGO) by 8.6% during the second quarter, Holdings Channel reports. The firm owned 1,331 shares of the semiconductor manufacturer’s stock after buying an additional 105 shares during the period. Ingalls & Snyder LLC’s holdings in Broadcom Limited were worth $310,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. First American Bank increased its position in shares of Broadcom Limited by 21.8% in the first quarter. First American Bank now owns 38,754 shares of the semiconductor manufacturer’s stock valued at $8,486,000 after buying an additional 6,932 shares during the period. Pennsylvania Trust Co increased its position in shares of Broadcom Limited by 4.0% in the first quarter. Pennsylvania Trust Co now owns 37,501 shares of the semiconductor manufacturer’s stock valued at $8,211,000 after buying an additional 1,437 shares during the period. E&G Advisors LP purchased a new position in shares of Broadcom Limited during the first quarter valued at about $285,000. Bank of Montreal Can increased its position in shares of Broadcom Limited by 4.2% in the first quarter. Bank of Montreal Can now owns 244,726 shares of the semiconductor manufacturer’s stock valued at $53,584,000 after buying an additional 9,868 shares during the period. Finally, Honkamp Krueger Financial Services Inc. increased its position in shares of Broadcom Limited by 1.9% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 1,475 shares of the semiconductor manufacturer’s stock valued at $323,000 after buying an additional 28 shares during the period. 90.60% of the stock is owned by institutional investors.

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

Broadcom Limited (NASDAQ:AVGO) last posted its quarterly earnings results 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. The firm had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $4.11 billion. Broadcom Limited had a positive return on equity of 24.15% and a negative net margin of 1.54%. The business’s revenue was up 17.9% compared to the same quarter last year. During the same period last year, the company earned $2.53 earnings per share. Equities analysts predict that Broadcom Limited will post $15.78 EPS for the current fiscal year.

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AVGO has been the subject of several analyst reports. Zacks Investment Research downgraded shares of Broadcom Limited from a “buy” rating to a “hold” rating in a report on Tuesday, May 2nd. Instinet reissued a “buy” rating and set a $260.00 price target (up previously from $230.00) on shares of Broadcom Limited in a report on Wednesday, May 17th. Royal Bank Of Canada reaffirmed a “top pick” rating and issued a $250.00 price objective on shares of Broadcom Limited in a report on Tuesday, May 23rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $265.00 price objective (up previously from $245.00) on shares of Broadcom Limited in a report on Thursday, May 25th. Finally, Mizuho reaffirmed a “buy” rating and issued a $265.00 price objective (up previously from $250.00) on shares of Broadcom Limited in a report on Sunday, May 28th. Two investment analysts have rated the stock with a hold rating, thirty-four have given a buy rating and two have given a strong buy rating to the stock. Broadcom Limited has an average rating of “Buy” and an average price target of $263.22.

In other news, insider Kirsten M. Spears sold 1,306 shares of Broadcom Limited stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Bryan Ingram sold 10,000 shares of Broadcom Limited stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $244.59, for a total value of $2,445,900.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,306 shares of company stock valued at $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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