Broadcom Limited (AVGO) Shares Bought by Fiera Capital Corp
Fiera Capital Corp boosted its stake in Broadcom Limited (NASDAQ:AVGO) by 2.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,961 shares of the semiconductor manufacturer’s stock after purchasing an additional 937 shares during the quarter. Fiera Capital Corp’s holdings in Broadcom Limited were worth $9,546,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in AVGO. Vanguard Group Inc. raised its position in shares of Broadcom Limited by 7.0% during the 1st 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 in the last quarter. BlackRock Inc. raised its position in shares of Broadcom Limited by 2,707.3% during the 1st 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 in the last quarter. State Street Corp raised its position in shares of Broadcom Limited by 3.8% during the 1st 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 in the last quarter. Wellington Management Group LLP raised its position in shares of Broadcom Limited by 29.3% during the 1st 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 in the last quarter. Finally, Jennison Associates LLC raised its position in shares of Broadcom Limited by 26.7% during the 2nd quarter. Jennison Associates LLC now owns 5,345,868 shares of the semiconductor manufacturer’s stock valued at $1,245,855,000 after buying an additional 1,128,052 shares in the last quarter. Institutional investors and hedge funds own 90.04% of the company’s stock.
Broadcom Limited (NASDAQ:AVGO) opened at 250.55 on Friday. The company has a market capitalization of $102.22 billion, a P/E ratio of 190.82 and a beta of 1.07. The firm has a 50-day moving average of $249.04 and a 200-day moving average of $236.06. Broadcom Limited has a 52 week low of $160.62 and a 52 week high of $259.36.
Broadcom Limited (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.03 by $0.07. The business had revenue of $4.47 billion for the quarter, compared to the consensus estimate of $4.46 billion. Broadcom Limited had a net margin of 3.12% and a return on equity of 26.82%. The business’s revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.89 EPS. Analysts anticipate that Broadcom Limited will post $15.92 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Tuesday, September 19th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend is Monday, September 18th. Broadcom Limited’s dividend payout ratio (DPR) is 348.72%.
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Several analysts have recently issued reports on AVGO shares. Deutsche Bank AG upped their target price on shares of Broadcom Limited from $275.00 to $295.00 and gave the company a “buy” rating in a research report on Friday, August 25th. Vetr cut shares of Broadcom Limited from a “buy” rating to a “hold” rating and set a $261.95 target price on the stock. in a research report on Monday, September 4th. Morgan Stanley restated an “overweight” rating and set a $265.00 target price (up from $245.00) on shares of Broadcom Limited in a research report on Thursday, May 25th. Pacific Crest restated an “overweight” rating and set a $260.00 target price on shares of Broadcom Limited in a research report on Wednesday, May 31st. Finally, B. Riley restated an “avgo (” rating and set a $305.00 target price on shares of Broadcom Limited in a research report on Monday, August 21st. Two research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and two have issued a strong buy rating to the company. Broadcom Limited currently has an average rating of “Buy” and a consensus target price of $274.48.
In other news, SVP Bryan Ingram sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $244.01, for a total value of $7,320,300.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Charlie B. Kawwas sold 1,788 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $247.28, for a total transaction of $442,136.64. The disclosure for this sale can be found here. Insiders sold a total of 41,788 shares of company stock worth $10,208,337 over the last three months. 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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