Summit Securities Group LLC decreased its stake in Broadcom Limited (NASDAQ:AVGO) by 84.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,100 shares of the semiconductor manufacturer’s stock after selling 11,100 shares during the period. Summit Securities Group LLC’s holdings in Broadcom Limited were worth $489,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Peapack Gladstone Financial Corp increased its stake in shares of Broadcom Limited by 0.4% in the first quarter. Peapack Gladstone Financial Corp now owns 2,148 shares of the semiconductor manufacturer’s stock valued at $470,000 after buying an additional 9 shares during the last quarter. Private Trust Co. NA increased its stake in shares of Broadcom Limited by 0.7% in the second quarter. Private Trust Co. NA now owns 1,977 shares of the semiconductor manufacturer’s stock valued at $460,000 after buying an additional 13 shares during the last quarter. IHT Wealth Management LLC increased its stake in shares of Broadcom Limited by 1.4% in the first quarter. IHT Wealth Management LLC now owns 1,094 shares of the semiconductor manufacturer’s stock valued at $238,000 after buying an additional 15 shares during the last quarter. Private Bank & Trust Co. increased its stake in shares of Broadcom Limited by 1.4% in the first quarter. Private Bank & Trust Co. now owns 1,343 shares of the semiconductor manufacturer’s stock valued at $294,000 after buying an additional 18 shares during the last quarter. Finally, First Heartland Consultants Inc. increased its stake in shares of Broadcom Limited by 0.7% in the first quarter. First Heartland Consultants Inc. now owns 3,765 shares of the semiconductor manufacturer’s stock valued at $824,000 after buying an additional 25 shares during the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Limited (NASDAQ AVGO) opened at 244.17 on Friday. The firm’s 50-day moving average is $245.90 and its 200 day moving average is $228.73. The firm’s market capitalization is $99.28 billion. Broadcom Limited has a 12 month low of $158.75 and a 12 month high of $258.49.

Broadcom Limited (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, June 1st. The semiconductor manufacturer reported $3.69 EPS for the quarter, topping the Thomson Reuters’ 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%. During the same period last year, the firm earned $2.53 EPS. Broadcom Limited’s revenue for the quarter was up 17.9% on a year-over-year basis. On average, analysts expect that Broadcom Limited will post $15.78 EPS for the current fiscal year.

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Several brokerages recently commented on AVGO. B. Riley reaffirmed a “buy” rating and set a $305.00 price objective on shares of Broadcom Limited in a research note on Tuesday, May 30th. UBS AG reaffirmed a “buy” rating and set a $265.00 price objective (up previously from $245.00) on shares of Broadcom Limited in a research note on Monday, June 5th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $270.00 price objective on shares of Broadcom Limited in a research note on Friday. BidaskClub downgraded Broadcom Limited from a “strong-buy” rating to a “buy” rating in a research note on Friday. Finally, Vetr raised Broadcom Limited from a “hold” rating to a “buy” rating and set a $258.25 price objective on the stock in a research note on Monday. One investment analyst has rated the stock with a hold rating, thirty-seven have given a buy rating and one has given a strong buy rating to the company. Broadcom Limited presently has an average rating of “Buy” and an average price target of $263.22.

In other Broadcom Limited news, SVP Bryan Ingram sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $244.59, for a total value of $2,445,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kirsten M. Spears sold 1,306 shares of the firm’s stock in a transaction on 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. Over the last three months, insiders sold 41,306 shares of company stock valued at $10,380,120. 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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