First Trust Advisors LP Has $108.26 Million Stake in Broadcom Limited (AVGO)
First Trust Advisors LP boosted its stake in Broadcom Limited (NASDAQ:AVGO) by 18.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 464,520 shares of the semiconductor manufacturer’s stock after buying an additional 71,811 shares during the period. First Trust Advisors LP’s holdings in Broadcom Limited were worth $108,256,000 at the end of the most recent quarter.
Other large investors have also recently 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 valued at $370,000 after buying an additional 525 shares during the last quarter. BTIM Corp. purchased a new stake in Broadcom Limited during the first quarter valued at $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 valued at $23,780,000 after buying an additional 1,375 shares during the last quarter. V Wealth Management LLC purchased a new stake in Broadcom Limited during the first quarter valued at $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 valued at $26,050,000 after buying an additional 1,853 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 company has a 50-day moving average price of $245.90 and a 200-day moving average price of $228.73. Broadcom Limited has a 1-year low of $158.75 and a 1-year high of $258.49. The firm’s market cap is $99.28 billion.
Broadcom Limited (NASDAQ:AVGO) last issued its earnings results on Thursday, June 1st. The semiconductor manufacturer reported $3.69 EPS for the quarter, topping the 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 the consensus estimate of $4.11 billion. During the same quarter last year, the company earned $2.53 EPS. The firm’s revenue was up 17.9% compared to the same quarter last year. On average, equities research analysts forecast that Broadcom Limited will post $15.78 EPS for the current fiscal year.
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A number of equities research analysts have commented on AVGO shares. 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 report on Thursday, May 25th. Pacific Crest reissued an “overweight” rating and set a $260.00 price objective on shares of Broadcom Limited in a report on Wednesday, May 31st. Zacks Investment Research lowered shares of Broadcom Limited from a “buy” rating to a “hold” rating in a report on Tuesday, May 2nd. Deutsche Bank AG reissued a “buy” rating and set a $275.00 price objective (up previously from $255.00) on shares of Broadcom Limited in a report on Thursday, June 1st. Finally, Sanford C. Bernstein reissued an “outperform” rating and set a $285.00 price objective (up previously from $265.00) on shares of Broadcom Limited in a report on Saturday, June 3rd. One analyst has rated the stock with a hold rating, thirty-seven have issued a buy rating and one has given a strong buy rating to the company’s stock. 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 dated Thursday, June 22nd. The stock was sold at an average price of $244.59, for a total value of $2,445,900.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kirsten M. Spears sold 1,306 shares of the firm’s stock in a transaction dated Thursday, June 8th. The shares were 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. In the last ninety days, insiders sold 41,306 shares of company stock worth $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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