Fmr LLC cut its stake in shares of Broadcom Limited (NASDAQ:AVGO) by 10.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,160,673 shares of the semiconductor manufacturer’s stock after selling 1,925,200 shares during the quarter. Broadcom Limited makes up 0.5% of Fmr LLC’s portfolio, making the stock its 27th largest holding. Fmr LLC owned about 4.22% of Broadcom Limited worth $3,999,294,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Broadcom Limited by 3.0% during the second quarter. Vanguard Group Inc. now owns 27,561,770 shares of the semiconductor manufacturer’s stock valued at $6,423,271,000 after acquiring an additional 793,335 shares during the period. BlackRock Inc. lifted its holdings in shares of Broadcom Limited by 3.5% during the second quarter. BlackRock Inc. now owns 23,930,917 shares of the semiconductor manufacturer’s stock valued at $5,577,099,000 after acquiring an additional 798,982 shares during the period. State Street Corp lifted its holdings in shares of Broadcom Limited by 3.8% during 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 acquiring an additional 583,498 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Broadcom Limited by 18.2% during the second quarter. Ameriprise Financial Inc. now owns 8,704,177 shares of the semiconductor manufacturer’s stock valued at $2,028,442,000 after acquiring an additional 1,338,695 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in shares of Broadcom Limited by 29.3% during 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 acquiring an additional 1,519,598 shares during the period. 89.70% of the stock is owned by institutional investors.

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In related news, SVP Charlie B. Kawwas sold 1,788 shares of Broadcom Limited stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $247.28, for a total transaction of $442,136.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Bryan Ingram sold 30,000 shares of Broadcom Limited 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,788 shares of company stock worth $12,692,037. 3.60% of the stock is owned by insiders.

AVGO has been the subject of a number of analyst reports. B. Riley reissued an “avgo (” rating and set a $305.00 price objective on shares of Broadcom Limited in a report on Monday, August 21st. Mizuho reissued a “buy” rating and set a $275.00 price objective (up from $265.00) on shares of Broadcom Limited in a report on Saturday, June 3rd. Craig Hallum lifted their price objective on Broadcom Limited from $260.00 to $290.00 and gave the company a “buy” rating in a report on Friday, June 2nd. Loop Capital reissued a “buy” rating and set a $270.00 price objective (up from $251.00) on shares of Broadcom Limited in a report on Thursday, June 1st. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $275.00 price target (up from $255.00) on shares of Broadcom Limited in a report on Thursday, June 1st. Two analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $276.74.

Broadcom Limited (NASDAQ AVGO) traded down 1.29% during midday trading on Thursday, reaching $239.77. The company’s stock had a trading volume of 985,454 shares. Broadcom Limited has a 52-week low of $160.62 and a 52-week high of $259.36. The firm has a market cap of $97.82 billion, a P/E ratio of 182.61 and a beta of 1.07. The firm has a 50 day moving average of $249.11 and a 200 day moving average of $236.86.

Broadcom Limited (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, August 24th. The semiconductor manufacturer reported $4.10 EPS for the quarter, beating the Zacks’ consensus estimate of $4.03 by $0.07. Broadcom Limited had a return on equity of 26.82% and a net margin of 3.12%. The firm had revenue of $4.47 billion during the quarter, compared to analysts’ expectations of $4.46 billion. During the same quarter last year, the firm posted $2.89 earnings per share. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. Analysts anticipate that Broadcom Limited will post $15.92 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Tuesday, September 19th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Monday, September 18th. This represents a $4.08 annualized dividend and a dividend yield of 1.68%. Broadcom Limited’s payout ratio is 348.72%.

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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