Broadcom Limited (NASDAQ:AVGO) Position Maintained by Consolidated Investment Group LLC
Consolidated Investment Group LLC maintained its stake in Broadcom Limited (NASDAQ:AVGO) during the second quarter, Holdings Channel reports. The firm owned 30,253 shares of the semiconductor manufacturer’s stock at the end of the second quarter. Broadcom Limited accounts for approximately 3.8% of Consolidated Investment Group LLC’s investment portfolio, making the stock its 4th largest position. Consolidated Investment Group LLC’s holdings in Broadcom Limited were worth $7,050,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. iAB Financial Bank raised its stake in Broadcom Limited by 45.1% in the first quarter. iAB Financial Bank now owns 1,690 shares of the semiconductor manufacturer’s stock worth $370,000 after buying an additional 525 shares during the last quarter. BTIM Corp. acquired a new stake in Broadcom Limited during the first quarter worth approximately $219,000. Comerica Bank raised its stake in Broadcom Limited by 1.3% in the first quarter. Comerica Bank now owns 106,595 shares of the semiconductor manufacturer’s stock worth $23,780,000 after buying an additional 1,375 shares during the last quarter. V Wealth Management LLC acquired a new stake in Broadcom Limited during the first quarter worth approximately $206,000. Finally, Wesbanco Bank Inc. raised its stake in Broadcom Limited by 1.6% in the first quarter. Wesbanco Bank Inc. now owns 118,971 shares of the semiconductor manufacturer’s stock worth $26,050,000 after buying an additional 1,853 shares during the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.
Shares of Broadcom Limited (NASDAQ:AVGO) opened at 249.17 on Thursday. The firm’s 50-day moving average price is $246.02 and its 200 day moving average price is $228.26. Broadcom Limited has a 52 week low of $158.75 and a 52 week high of $258.49. The company’s market capitalization is $101.31 billion.
Broadcom Limited (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, June 1st. The semiconductor manufacturer reported $3.69 EPS for the quarter, beating the Zacks’ consensus estimate of $3.50 by $0.19. The company had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $4.11 billion. Broadcom Limited had a negative net margin of 1.54% and a positive return on equity of 24.15%. Broadcom Limited’s quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.53 EPS. Equities analysts predict that Broadcom Limited will post $15.78 EPS for the current year.
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AVGO has been the subject of a number of research analyst reports. Morgan Stanley reissued an “overweight” rating and issued a $265.00 target price (up previously from $245.00) on shares of Broadcom Limited in a report on Thursday, May 25th. Pacific Crest restated an “overweight” rating and issued a $260.00 price target on shares of Broadcom Limited in a research note on Wednesday, May 31st. Zacks Investment Research downgraded Broadcom Limited from a “buy” rating to a “hold” rating in a research note on Tuesday, May 2nd. Deutsche Bank AG restated a “buy” rating and issued a $275.00 price target (up from $255.00) on shares of Broadcom Limited in a research note on Thursday, June 1st. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $285.00 price target (up from $265.00) on shares of Broadcom Limited in a research note on Saturday, June 3rd. Two equities research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and two have issued a strong buy rating to the company. Broadcom Limited currently has a consensus rating of “Buy” and a consensus price target of $263.22.
In other Broadcom Limited news, SVP Bryan Ingram sold 30,000 shares of the stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $253.41, for a total value of $7,602,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kirsten M. Spears sold 1,306 shares of the stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $254.15, for a total transaction of $331,919.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,306 shares of company stock valued at $10,380,120. 3.60% of the stock is owned by insiders.
About Broadcom Limited
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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