Garrison Financial Corp bought a new position in Broadcom Limited (NASDAQ:AVGO) during the second quarter, Holdings Channel reports. The institutional investor bought 11,277 shares of the semiconductor manufacturer’s stock, valued at approximately $2,628,000.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. increased its stake in Broadcom Limited by 2,707.3% in the first quarter. BlackRock Inc. now owns 23,131,935 shares of the semiconductor manufacturer’s stock worth $5,064,971,000 after buying an additional 22,307,935 shares during the period. Jennison Associates LLC increased its stake in Broadcom Limited by 904.2% in the first quarter. Jennison Associates LLC now owns 4,201,357 shares of the semiconductor manufacturer’s stock worth $919,929,000 after buying an additional 3,782,991 shares during the period. Vanguard Group Inc. increased its stake in Broadcom Limited by 7.0% in the first quarter. Vanguard Group Inc. now owns 26,768,435 shares of the semiconductor manufacturer’s stock worth $5,861,217,000 after buying an additional 1,746,144 shares during the period. Harbour Capital Advisors LLC increased its stake in Broadcom Limited by 22,924.6% in the second quarter. Harbour Capital Advisors LLC now owns 1,530,905 shares of the semiconductor manufacturer’s stock worth $6,569,000 after buying an additional 1,524,256 shares during the period. Finally, Wellington Management Group LLP increased its stake in Broadcom Limited by 29.3% in the first quarter. Wellington Management Group LLP now owns 6,710,760 shares of the semiconductor manufacturer’s stock worth $1,469,388,000 after buying an additional 1,519,598 shares during the period. 90.60% of the stock is owned by hedge funds and other institutional investors.

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

Broadcom Limited (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, June 1st. The semiconductor manufacturer reported $3.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $4.11 billion. During the same quarter in the previous year, the company posted $2.53 EPS. The business’s revenue for the quarter was up 17.9% compared to the same quarter last year. On average, equities research analysts anticipate that Broadcom Limited will post $15.78 earnings per share for the current fiscal year.

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A number of analysts recently issued reports on AVGO shares. Morgan Stanley reissued an “overweight” rating and set a $265.00 target price (up previously from $245.00) on shares of Broadcom Limited in a research report on Thursday, May 25th. Mizuho reissued a “buy” rating and set a $265.00 target price (up previously from $250.00) on shares of Broadcom Limited in a research report on Sunday, May 28th. Zacks Investment Research cut Broadcom Limited from a “buy” rating to a “hold” rating in a report on Tuesday, May 2nd. Pacific Crest restated an “overweight” rating and issued a $260.00 price target on shares of Broadcom Limited in a report on Wednesday, May 31st. Finally, Cowen and Company upped their price target on Broadcom Limited from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, June 2nd. 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 stock. Broadcom Limited currently has a consensus rating of “Buy” and an average target price of $263.22.

In other Broadcom Limited news, insider Kirsten M. Spears sold 1,306 shares of Broadcom Limited stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $254.15, for a total value of $331,919.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Bryan Ingram sold 30,000 shares of Broadcom Limited stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $253.41, for a total value of $7,602,300.00. 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. 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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