1ST Source Bank Has $811,000 Stake in Broadcom Limited (AVGO)
1ST Source Bank raised its position in Broadcom Limited (NASDAQ:AVGO) by 133.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,479 shares of the semiconductor manufacturer’s stock after buying an additional 1,991 shares during the period. 1ST Source Bank’s holdings in Broadcom Limited were worth $811,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. FNY Managed Accounts LLC acquired a new position in Broadcom Limited during the first quarter worth approximately $100,000. AllSquare Wealth Management LLC raised its position in Broadcom Limited by 38.0% in the first quarter. AllSquare Wealth Management LLC now owns 483 shares of the semiconductor manufacturer’s stock worth $106,000 after buying an additional 133 shares during the last quarter. Crestwood Advisors Group LLC acquired a new position in Broadcom Limited during the first quarter worth approximately $111,000. Archford Capital Strategies LLC raised its position in Broadcom Limited by 45.4% in the first quarter. Archford Capital Strategies LLC now owns 538 shares of the semiconductor manufacturer’s stock worth $118,000 after buying an additional 168 shares during the last quarter. Finally, D. Scott Neal Inc. acquired a new position in Broadcom Limited during the second quarter worth approximately $127,000. Institutional investors and hedge funds own 90.60% of the company’s stock.
Shares of Broadcom Limited (NASDAQ AVGO) traded up 1.44% during mid-day trading on Friday, hitting $244.17. 1,697,612 shares of the company’s stock traded hands. The firm has a 50-day moving average of $245.90 and a 200 day moving average of $228.73. The company’s market cap is $99.28 billion. Broadcom Limited has a 52 week low of $158.75 and a 52 week high of $258.49.
Broadcom Limited (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, June 1st. The semiconductor manufacturer reported $3.69 earnings per share for the quarter, beating the consensus estimate of $3.50 by $0.19. Broadcom Limited had a negative net margin of 1.54% and a positive return on equity of 24.15%. The firm had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $4.11 billion. During the same period in the previous year, the firm posted $2.53 earnings per share. The business’s revenue was up 17.9% compared to the same quarter last year. Equities research analysts predict that Broadcom Limited will post $15.78 EPS for the current year.
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A number of equities analysts have recently commented on AVGO shares. Craig Hallum lifted their price objective on Broadcom Limited from $260.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, June 2nd. Loop Capital reiterated a “buy” rating and issued a $270.00 price objective (up from $251.00) on shares of Broadcom Limited in a research note on Thursday, June 1st. Deutsche Bank AG reiterated a “buy” rating and issued a $275.00 price objective (up from $255.00) on shares of Broadcom Limited in a research note on Thursday, June 1st. Rosenblatt Securities reiterated a “buy” rating and issued a $260.00 price objective on shares of Broadcom Limited in a research note on Wednesday, May 31st. Finally, B. Riley restated a “buy” rating and set a $305.00 price target on shares of Broadcom Limited in a research note on Tuesday, May 30th. One analyst has rated the stock with a hold rating, thirty-seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $263.22.
In other Broadcom Limited news, SVP Bryan Ingram sold 10,000 shares of Broadcom Limited stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $244.59, for a total value of $2,445,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kirsten M. Spears sold 1,306 shares of Broadcom Limited stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $254.15, for a total transaction of $331,919.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,306 shares of company stock valued at $10,380,120. 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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