Broadcom Limited (AVGO) Shares Bought by Axa
Axa boosted its position in Broadcom Limited (NASDAQ:AVGO) by 1.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 126,626 shares of the semiconductor manufacturer’s stock after buying an additional 1,750 shares during the quarter. Axa’s holdings in Broadcom Limited were worth $29,511,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Comerica Bank grew 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 valued at $23,780,000 after buying an additional 1,375 shares during the last quarter. Alps Advisors Inc. acquired a new position in Broadcom Limited in the 2nd quarter valued at $221,000. Icon Advisers Inc. Co. grew 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 valued at $16,648,000 after buying an additional 2,900 shares during the last quarter. Principal Financial Group Inc. grew 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 valued at $155,459,000 after buying an additional 83,929 shares during the last quarter. Finally, Zweig DiMenna Associates LLC grew its stake in Broadcom Limited by 79.0% in the 2nd quarter. Zweig DiMenna Associates LLC now owns 96,680 shares of the semiconductor manufacturer’s stock valued at $22,531,000 after buying an additional 42,668 shares during the last quarter. Institutional investors and hedge funds own 90.04% of the company’s stock.
Shares of Broadcom Limited (AVGO) traded down 0.99% during midday trading on Friday, hitting $244.11. 1,810,040 shares of the stock traded hands. The company has a market capitalization of $99.35 billion, a price-to-earnings ratio of 185.92 and a beta of 1.07. The firm’s 50-day moving average is $249.89 and its 200 day moving average is $234.79. Broadcom Limited has a 52 week low of $158.75 and a 52 week high of $259.36.
Broadcom Limited (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.03 by $0.07. The business had revenue of $4.47 billion during the quarter, compared to analyst estimates of $4.46 billion. Broadcom Limited had a net margin of 3.12% and a return on equity of 26.82%. The firm’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter last year, the business earned $2.89 EPS. Equities analysts forecast that Broadcom Limited will post $15.92 earnings per share 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 issued a $1.02 dividend. The ex-dividend date of this dividend is Monday, September 18th. This represents a $4.08 dividend on an annualized basis and a yield of 1.67%. Broadcom Limited’s dividend payout ratio (DPR) is presently 348.72%.
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A number of research analysts recently issued reports on the stock. UBS AG reiterated a “buy” rating and issued a $265.00 target price (up from $245.00) on shares of Broadcom Limited in a research note on Monday, June 5th. B. Riley reiterated a “buy” rating and issued a $305.00 target price on shares of Broadcom Limited in a research note on Saturday, August 26th. Vetr upgraded shares of Broadcom Limited from a “hold” rating to a “buy” rating and set a $258.25 target price on the stock in a research note on Monday, August 14th. BidaskClub lowered shares of Broadcom Limited from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 11th. Finally, Cowen and Company reiterated a “buy” rating and issued a $260.00 target price on shares of Broadcom Limited in a research note on Friday, August 11th. Two equities research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $271.98.
In related news, SVP Bryan Ingram sold 10,000 shares of the firm’s stock in a transaction that occurred 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.60% of the stock is owned by company insiders.
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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