C M Bidwell & Associates Ltd. bought a new position in shares of Broadcom Limited (NASDAQ:AVGO) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 18,000 shares of the semiconductor manufacturer’s stock, valued at approximately $4,195,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Broadcom Limited by 3.0% during the 2nd quarter. Vanguard Group Inc. now owns 27,561,770 shares of the semiconductor manufacturer’s stock worth $6,423,271,000 after acquiring an additional 793,335 shares during the period. BlackRock Inc. raised its stake in Broadcom Limited by 3.5% during the 2nd quarter. BlackRock Inc. now owns 23,930,917 shares of the semiconductor manufacturer’s stock worth $5,577,099,000 after acquiring an additional 798,982 shares during the period. State Street Corp raised its stake in Broadcom Limited by 1.6% during the 2nd quarter. State Street Corp now owns 16,060,697 shares of the semiconductor manufacturer’s stock worth $3,742,946,000 after acquiring an additional 255,044 shares during the period. Ameriprise Financial Inc. raised its stake in Broadcom Limited by 18.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,704,177 shares of the semiconductor manufacturer’s stock worth $2,028,442,000 after acquiring an additional 1,338,695 shares during the period. Finally, Wellington Management Group LLP raised its stake in 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 worth $1,469,388,000 after acquiring an additional 1,519,598 shares during the period. Institutional investors own 89.71% of the company’s stock.

Broadcom Limited (NASDAQ:AVGO) traded up 0.85% during mid-day trading on Friday, hitting $245.74. The company had a trading volume of 1,748,856 shares. Broadcom Limited has a 52-week low of $160.62 and a 52-week high of $259.36. The company has a market capitalization of $100.26 billion, a P/E ratio of 187.16 and a beta of 1.08. The company has a 50-day moving average price of $245.93 and a 200 day moving average price of $238.37.

Broadcom Limited (NASDAQ:AVGO) last posted its earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to analyst estimates of $4.46 billion. During the same quarter in the prior year, the company earned $2.89 EPS. Broadcom Limited’s revenue was up 17.5% on a year-over-year basis. On average, analysts forecast that Broadcom Limited will post $15.91 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Tuesday, September 19th were paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend was Monday, September 18th. Broadcom Limited’s payout ratio is 348.72%.

A number of equities research analysts have commented on AVGO shares. Vetr upgraded shares of Broadcom Limited from a “hold” rating to a “buy” rating and set a $261.95 target price on the stock in a research note on Monday, August 28th. Royal Bank Of Canada restated a “buy” rating and set a $285.00 target price (up previously from $270.00) on shares of Broadcom Limited in a research note on Saturday, August 26th. UBS AG restated a “buy” rating and set a $265.00 target price on shares of Broadcom Limited in a research note on Monday, June 26th. B. Riley restated a “buy” rating and set a $305.00 target price on shares of Broadcom Limited in a research note on Thursday, August 31st. Finally, BidaskClub cut shares of Broadcom Limited from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 11th. One equities research analyst has rated the stock with a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $276.80.

In related news, SVP Bryan Ingram sold 30,000 shares of the stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $244.01, for a total transaction of $7,320,300.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Charlie B. Kawwas sold 1,788 shares of the stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $247.28, for a total value of $442,136.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 61,788 shares of company stock worth $15,098,237. 3.60% of the stock is owned by corporate insiders.

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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.

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

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