Comerica Bank boosted its stake in shares of Broadcom Limited (NASDAQ:AVGO) by 0.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,653 shares of the semiconductor manufacturer’s stock after buying an additional 58 shares during the period. Comerica Bank’s holdings in Broadcom Limited were worth $26,986,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position 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 valued at $5,861,217,000 after buying an additional 1,746,144 shares during the period. BlackRock Inc. raised its position 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 valued at $5,064,971,000 after buying an additional 22,307,935 shares during the period. State Street Corp raised its position in Broadcom Limited by 3.8% in the first quarter. State Street Corp now owns 15,805,653 shares of the semiconductor manufacturer’s stock valued at $3,460,804,000 after buying an additional 583,498 shares during the period. Wellington Management Group LLP raised its position 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 valued at $1,469,388,000 after buying an additional 1,519,598 shares during the period. Finally, Jennison Associates LLC raised its position 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 valued at $919,929,000 after buying an additional 3,782,991 shares during the period. Hedge funds and other institutional investors own 90.94% of the company’s stock.

Broadcom Limited (NASDAQ:AVGO) opened at 253.69 on Wednesday. The firm’s market cap is $103.15 billion. Broadcom Limited has a 1-year low of $158.75 and a 1-year high of $258.49. The company’s 50-day moving average price is $246.37 and its 200 day moving average price is $229.84. Broadcom Limited also was the recipient of some unusual options trading on Monday. Stock investors acquired 10,775 call options on the company. This represents an increase of approximately 177% compared to the typical daily volume of 3,886 call options.

Broadcom Limited (NASDAQ:AVGO) last issued its earnings results on Thursday, June 1st. The semiconductor manufacturer reported $3.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.50 by $0.19. The firm had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.11 billion. Broadcom Limited had a positive return on equity of 24.15% and a negative net margin of 1.54%. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.53 earnings per share. On average, equities analysts expect that Broadcom Limited will post $15.78 earnings per share for the current fiscal year.

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Several brokerages have weighed in on AVGO. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $275.00 price target (up previously from $240.00) on shares of Broadcom Limited in a report on Friday, June 2nd. MKM Partners reissued a “buy” rating and issued a $261.00 price target (up previously from $250.00) on shares of Broadcom Limited in a report on Friday, June 2nd. Canaccord Genuity reissued a “buy” rating and issued a $272.00 price target (up previously from $250.00) on shares of Broadcom Limited in a report on Saturday, June 3rd. Morgan Stanley reissued an “overweight” rating and issued a $280.00 price target (up previously from $265.00) on shares of Broadcom Limited in a report on Saturday, June 3rd. Finally, Mizuho reissued a “buy” rating and issued a $275.00 price target (up previously from $265.00) on shares of Broadcom Limited in a report on Saturday, June 3rd. One investment analyst has rated the stock with a hold rating, thirty-seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Broadcom Limited presently 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 the business’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $254.15, for a total transaction of $331,919.90. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Bryan Ingram sold 10,000 shares of the business’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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,306 shares of company stock worth $10,380,120. 3.60% of the stock is currently 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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Institutional Ownership by Quarter for Broadcom Limited (NASDAQ:AVGO)

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