Broadcom Limited (AVGO) Position Reduced by Investment Centers of America Inc.

Investment Centers of America Inc. cut its stake in Broadcom Limited (NASDAQ:AVGO) by 0.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,592 shares of the semiconductor manufacturer’s stock after selling 12 shares during the period. Investment Centers of America Inc.’s holdings in Broadcom Limited were worth $834,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Comerica Bank boosted its stake in Broadcom Limited by 1.3% in the 1st quarter. Comerica Bank now owns 106,595 shares of the semiconductor manufacturer’s stock worth $23,780,000 after purchasing an additional 1,375 shares in the last quarter. Alps Advisors Inc. acquired a new stake in Broadcom Limited in the 2nd quarter worth approximately $221,000. Icon Advisers Inc. Co. boosted its stake in Broadcom Limited by 4.0% in the 1st quarter. Icon Advisers Inc. Co. now owns 76,030 shares of the semiconductor manufacturer’s stock worth $16,648,000 after purchasing an additional 2,900 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Broadcom Limited by 14.4% in the 2nd quarter. Principal Financial Group Inc. now owns 667,057 shares of the semiconductor manufacturer’s stock worth $155,459,000 after purchasing an additional 83,929 shares in the last quarter. Finally, DSAM Partners London Ltd boosted its stake in Broadcom Limited by 103.4% in the 2nd quarter. DSAM Partners London Ltd now owns 184,714 shares of the semiconductor manufacturer’s stock worth $43,048,000 after purchasing an additional 93,890 shares in the last quarter. Institutional investors own 90.04% of the company’s stock.

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Shares of Broadcom Limited (NASDAQ AVGO) traded up 1.46% on Friday, hitting $250.55. 5,006,589 shares of the stock traded hands. Broadcom Limited has a 12 month low of $160.62 and a 12 month high of $259.36. The company has a market cap of $102.22 billion, a PE ratio of 190.82 and a beta of 1.07. The firm’s 50 day moving average is $249.04 and its 200-day moving average is $236.06.

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

The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Tuesday, September 19th will be given 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 is currently 348.72%.

A number of analysts recently commented on the stock. Craig Hallum reiterated a “buy” rating on shares of Broadcom Limited in a research note on Wednesday. KeyCorp reiterated an “overweight” rating on shares of Broadcom Limited in a research note on Thursday. J P Morgan Chase & Co reiterated a “buy” rating and issued a $315.00 target price on shares of Broadcom Limited in a research note on Tuesday, September 12th. Vetr cut shares of Broadcom Limited from a “buy” rating to a “hold” rating and set a $261.95 target price for the company. in a research note on Monday, September 4th. Finally, B. Riley reiterated a “buy” rating and issued a $305.00 target price on shares of Broadcom Limited in a research note on Thursday, August 31st. Two investment analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and two have given a strong buy rating to the company. Broadcom Limited has a consensus rating of “Buy” and a consensus target price of $274.48.

In related news, SVP Charlie B. Kawwas sold 1,788 shares of Broadcom Limited stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $247.28, for a total transaction of $442,136.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Bryan Ingram sold 10,000 shares of Broadcom Limited 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 sold 41,788 shares of company stock valued at $10,208,337. Company insiders own 3.60% of the company’s stock.

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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