Van ECK Associates Corp lessened its holdings in shares of Broadcom Limited (NASDAQ:AVGO) by 30.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 113,754 shares of the semiconductor manufacturer’s stock after selling 48,894 shares during the quarter. Van ECK Associates Corp’s holdings in Broadcom Limited were worth $26,510,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of AVGO. BlackRock Inc. raised its position in Broadcom Limited by 2,707.3% during the first quarter. BlackRock Inc. now owns 23,131,935 shares of the semiconductor manufacturer’s stock valued at $5,064,971,000 after acquiring an additional 22,307,935 shares in the last quarter. Vanguard Group Inc. raised its position in Broadcom Limited by 7.0% during 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 acquiring an additional 1,746,144 shares in the last quarter. Harbour Capital Advisors LLC raised its position in Broadcom Limited by 22,924.6% during the second quarter. Harbour Capital Advisors LLC now owns 1,530,905 shares of the semiconductor manufacturer’s stock valued at $6,569,000 after acquiring an additional 1,524,256 shares in the last quarter. Wellington Management Group LLP raised its position in 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 in the last quarter. Finally, Ameriprise Financial Inc. raised its position in 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 in the last quarter. 89.70% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Limited (NASDAQ AVGO) opened at 239.40 on Thursday. The company has a 50 day moving average price of $249.11 and a 200-day moving average price of $236.86. The company has a market capitalization of $97.67 billion, a PE ratio of 182.33 and a beta of 1.07. Broadcom Limited has a 12-month low of $160.62 and a 12-month high of $259.36.

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

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

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In related news, insider Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $246.48, for a total value of $4,929,600.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Bryan Ingram sold 30,000 shares of the firm’s stock in a transaction dated 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. Insiders sold 51,788 shares of company stock worth $12,692,037 over the last ninety days. 3.60% of the stock is currently owned by insiders.

A number of equities analysts have recently commented on AVGO shares. Deutsche Bank AG lifted their price target 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 lowered shares of Broadcom Limited from a “buy” rating to a “hold” rating and set a $261.95 price target on the stock. in a research report on Monday, September 4th. Morgan Stanley reissued an “overweight” rating and issued a $265.00 price target (up previously from $245.00) on shares of Broadcom Limited in a research report on Thursday, May 25th. Pacific Crest reissued an “overweight” rating and issued a $260.00 price target on shares of Broadcom Limited in a research report on Wednesday, May 31st. Finally, B. Riley reissued an “avgo (” rating and issued a $305.00 price target on shares of Broadcom Limited in a research report on Monday, August 21st. Two analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $276.74.

Broadcom Limited 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.

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

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