M&T Bank Corp boosted its holdings in shares of Broadcom Limited (NASDAQ:AVGO) by 11.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 86,157 shares of the semiconductor manufacturer’s stock after acquiring an additional 9,057 shares during the quarter. M&T Bank Corp’s holdings in Broadcom Limited were worth $20,079,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. Waldron LP acquired a new stake in shares of Broadcom Limited in the first quarter valued at $302,000. British Columbia Investment Management Corp grew its stake in shares of Broadcom Limited by 5.3% in the first quarter. British Columbia Investment Management Corp now owns 213,638 shares of the semiconductor manufacturer’s stock valued at $46,778,000 after buying an additional 10,821 shares in the last quarter. Kistler Tiffany Companies LLC grew its stake in shares of Broadcom Limited by 25.1% in the first quarter. Kistler Tiffany Companies LLC now owns 688 shares of the semiconductor manufacturer’s stock valued at $151,000 after buying an additional 138 shares in the last quarter. Main Street Research LLC grew its stake in shares of Broadcom Limited by 3.4% in the first quarter. Main Street Research LLC now owns 52,325 shares of the semiconductor manufacturer’s stock valued at $11,457,000 after buying an additional 1,709 shares in the last quarter. Finally, Teza Capital Management LLC acquired a new stake in shares of Broadcom Limited in the first quarter valued at $1,092,000. 89.70% of the stock is owned by institutional investors.
Broadcom Limited (NASDAQ AVGO) traded down 0.66% during midday trading on Friday, reaching $238.79. The company had a trading volume of 590,882 shares. Broadcom Limited has a 52-week low of $160.62 and a 52-week high of $259.36. The company’s 50 day moving average is $249.11 and its 200-day moving average is $236.86. The company has a market capitalization of $97.42 billion, a P/E ratio of 181.87 and a beta of 1.07.
Broadcom Limited (NASDAQ:AVGO) last posted its quarterly 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. The firm had revenue of $4.47 billion for 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.89 earnings per share. Equities analysts expect that Broadcom Limited will post $15.92 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Tuesday, September 19th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Monday, September 18th. Broadcom Limited’s dividend payout ratio is 348.72%.
A number of brokerages have recently weighed in on AVGO. Craig Hallum reaffirmed a “buy” rating on shares of Broadcom Limited in a research note on Wednesday, September 13th. KeyCorp reaffirmed an “overweight” rating on shares of Broadcom Limited in a research note on Thursday, September 14th. J P Morgan Chase & Co reaffirmed a “buy” rating and issued a $315.00 price objective on shares of Broadcom Limited in a research note on Tuesday, September 12th. Vetr lowered Broadcom Limited from a “buy” rating to a “hold” rating and set a $261.95 target price for the company. in a report 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 report on Thursday, August 31st. Two analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $276.74.
In related news, SVP Charlie B. Kawwas sold 1,788 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $247.28, for a total value of $442,136.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Bryan Ingram sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $244.01, for a total transaction of $7,320,300.00. The disclosure for this sale can be found here. Insiders sold a total of 51,788 shares of company stock valued at $12,692,037 in the last ninety days. Company insiders own 3.60% of the company’s stock.
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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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