Duff & Phelps Investment Management Co. reduced its position in Broadcom Limited (NASDAQ:AVGO) by 10.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,632 shares of the semiconductor manufacturer’s stock after selling 5,510 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Broadcom Limited were worth $11,570,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FNY Managed Accounts LLC purchased a new position in shares of Broadcom Limited during the first quarter worth about $100,000. AllSquare Wealth Management LLC increased its position in shares of Broadcom Limited by 38.0% in the first quarter. AllSquare Wealth Management LLC now owns 483 shares of the semiconductor manufacturer’s stock worth $106,000 after buying an additional 133 shares during the last quarter. Crestwood Advisors Group LLC purchased a new position in shares of Broadcom Limited during the first quarter worth about $111,000. Shine Investment Advisory Services Inc. purchased a new position in shares of Broadcom Limited during the second quarter worth about $116,000. Finally, Archford Capital Strategies LLC increased its position in shares of Broadcom Limited by 45.4% in the first quarter. Archford Capital Strategies LLC now owns 538 shares of the semiconductor manufacturer’s stock worth $118,000 after buying an additional 168 shares during the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

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

Broadcom Limited (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, June 1st. The semiconductor manufacturer reported $3.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.50 by $0.19. The business 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.53 EPS. Equities analysts anticipate that Broadcom Limited will post $15.78 EPS for the current fiscal year.

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A number of research analysts have recently issued reports on the stock. UBS AG reaffirmed a “buy” rating and issued a $265.00 price objective (up previously from $245.00) on shares of Broadcom Limited in a research report on Monday, June 5th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $285.00 price objective on shares of Broadcom Limited in a research report on Wednesday, July 12th. Raymond James Financial, Inc. reaffirmed a “strong-buy” rating and issued a $300.00 price objective on shares of Broadcom Limited in a research report on Friday, June 16th. Morgan Stanley reaffirmed an “overweight” rating and issued a $280.00 price objective (up previously from $265.00) on shares of Broadcom Limited in a research report on Saturday, June 3rd. Finally, KeyCorp reissued an “overweight” rating and set a $280.00 target price on shares of Broadcom Limited in a research report on Wednesday, July 12th. One analyst has rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has given a strong buy rating to the company. Broadcom Limited currently has a consensus rating of “Buy” and an average price target of $263.22.

In related news, SVP Bryan Ingram sold 10,000 shares of Broadcom Limited stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $244.59, for a total transaction of $2,445,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $331,919.90. The disclosure for this sale can be found here. Insiders have sold a total of 41,306 shares of company stock valued at $10,380,120 in the last ninety days. Corporate insiders own 3.60% of the company’s stock.

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

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