Raymond James Trust N.A. Acquires 231 Shares of Broadcom Limited (AVGO)

Raymond James Trust N.A. lifted its holdings in shares of Broadcom Limited (NASDAQ:AVGO) by 2.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 9,464 shares of the semiconductor manufacturer’s stock after purchasing an additional 231 shares during the period. Raymond James Trust N.A.’s holdings in Broadcom Limited were worth $2,206,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in AVGO. Comerica Bank grew its holdings 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 acquiring an additional 1,375 shares during the last quarter. Alps Advisors Inc. bought a new stake in Broadcom Limited in the 2nd quarter worth $221,000. Icon Advisers Inc. Co. grew its holdings 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 acquiring an additional 2,900 shares during the last quarter. Principal Financial Group Inc. grew its holdings 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 acquiring an additional 83,929 shares during the last quarter. Finally, Zweig DiMenna Associates LLC grew its holdings 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 worth $22,531,000 after acquiring an additional 42,668 shares during the last quarter. 90.04% of the stock is currently owned by institutional investors.

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In other Broadcom Limited news, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.60% of the company’s stock.

Broadcom Limited (NASDAQ:AVGO) traded down 0.35% on Tuesday, hitting $246.88. 513,056 shares of the stock were exchanged. The firm has a market cap of $100.48 billion, a PE ratio of 188.03 and a beta of 1.07. The stock’s 50 day moving average price is $249.79 and its 200 day moving average price is $235.28. Broadcom Limited has a 52-week low of $160.62 and a 52-week high of $259.36.

Broadcom Limited (NASDAQ:AVGO) last released its earnings results 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 company had revenue of $4.47 billion during the quarter, compared to the consensus estimate 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 in the previous year, the company posted $2.89 EPS. Equities research analysts forecast that Broadcom Limited will post $15.92 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Tuesday, September 19th will be given a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend is Monday, September 18th. Broadcom Limited’s dividend payout ratio is currently 348.72%.

A number of equities research analysts have issued reports on the stock. KeyCorp reissued an “overweight” rating and issued a $280.00 price target on shares of Broadcom Limited in a report on Wednesday, August 23rd. Rosenblatt Securities reissued a “buy” rating and issued a $270.00 price target on shares of Broadcom Limited in a report on Wednesday, August 23rd. UBS AG reissued an “overweight” rating on shares of Broadcom Limited in a report on Thursday, August 24th. Robert W. Baird reissued an “outperform” rating and issued a $290.00 price target (up previously from $260.00) on shares of Broadcom Limited in a report on Friday, August 25th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $286.00 price target (up previously from $270.00) on shares of Broadcom Limited in a report on Friday, August 25th. 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. Broadcom Limited has an average rating of “Buy” and a consensus target price of $271.98.

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.

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

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