GRATRY & Co LLC cut its position in Broadcom Limited (NASDAQ:AVGO) by 3.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,637 shares of the semiconductor manufacturer’s stock after selling 330 shares during the quarter. Broadcom Limited comprises about 3.0% of GRATRY & Co LLC’s portfolio, making the stock its 8th biggest holding. GRATRY & Co LLC’s holdings in Broadcom Limited were worth $2,479,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Alps Advisors Inc. bought a new stake in Broadcom Limited in the 2nd quarter valued at $221,000. 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 valued at $155,459,000 after purchasing an additional 83,929 shares during the period. 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 valued at $43,048,000 after purchasing an additional 93,890 shares during the period. Segment Wealth Management LLC boosted its stake in Broadcom Limited by 6.1% in the 2nd quarter. Segment Wealth Management LLC now owns 14,030 shares of the semiconductor manufacturer’s stock valued at $3,269,000 after purchasing an additional 810 shares during the period. Finally, Teachers Advisors LLC boosted its stake in Broadcom Limited by 0.3% in the 2nd quarter. Teachers Advisors LLC now owns 1,280,437 shares of the semiconductor manufacturer’s stock valued at $298,406,000 after purchasing an additional 4,357 shares during the period. Institutional investors and hedge funds own 89.71% of the company’s stock.
Broadcom Limited (NASDAQ AVGO) traded up 0.51% during midday trading on Friday, hitting $250.00. The company’s stock had a trading volume of 591,637 shares. Broadcom Limited has a 52-week low of $160.62 and a 52-week high of $259.36. The company has a market cap of $101.99 billion, a PE ratio of 190.40 and a beta of 1.08. The stock has a 50 day moving average of $245.37 and a 200 day moving average of $239.25.
Broadcom Limited (NASDAQ:AVGO) last announced its quarterly earnings results 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. Broadcom Limited had a return on equity of 26.82% and a net margin of 3.12%. The company had revenue of $4.47 billion for the quarter, compared to the consensus estimate of $4.46 billion. During the same quarter in the previous year, the business earned $2.89 EPS. Broadcom Limited’s revenue was up 17.5% compared to the same quarter last year. On average, equities analysts expect that Broadcom Limited will post $15.91 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Tuesday, September 19th were issued a dividend of $1.02 per share. The ex-dividend date of this dividend was Monday, September 18th. This represents a $4.08 dividend on an annualized basis and a yield of 1.64%. Broadcom Limited’s dividend payout ratio is presently 348.72%.
In related news, SVP Bryan Ingram sold 10,000 shares of the business’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $240.62, for a total transaction of $2,406,200.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Charlie B. Kawwas sold 1,788 shares of the business’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $247.28, for a total value of $442,136.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,788 shares of company stock worth $15,098,237. 3.60% of the stock is owned by company insiders.
AVGO has been the subject of several recent research reports. Vetr downgraded Broadcom Limited from a “buy” rating to a “hold” rating and set a $261.95 price target for the company. in a research note on Monday, September 4th. Zacks Investment Research raised Broadcom Limited from a “hold” rating to a “buy” rating and set a $272.00 price objective for the company in a report on Tuesday, August 29th. Morgan Stanley reaffirmed a “buy” rating and issued a $290.00 price objective on shares of Broadcom Limited in a report on Friday, August 25th. KeyCorp reaffirmed an “overweight” rating on shares of Broadcom Limited in a report on Thursday, September 14th. Finally, Bank of America Corporation reaffirmed a “buy” rating and issued a $300.00 price objective on shares of Broadcom Limited in a report on Friday, August 25th. One investment analyst has rated the stock with a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $276.93.
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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