Hollencrest Securities LLC held its stake in shares of Broadcom Limited (NASDAQ:AVGO) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,245 shares of the semiconductor manufacturer’s stock at the end of the second quarter. Hollencrest Securities LLC’s holdings in Broadcom Limited were worth $290,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in AVGO. Bank of Montreal Can raised its stake in Broadcom Limited by 4.2% in the first quarter. Bank of Montreal Can now owns 244,726 shares of the semiconductor manufacturer’s stock valued at $53,584,000 after buying an additional 9,868 shares in the last quarter. E&G Advisors LP acquired a new stake in Broadcom Limited during the first quarter valued at approximately $285,000. Pennsylvania Trust Co raised its stake in Broadcom Limited by 4.0% in the first quarter. Pennsylvania Trust Co now owns 37,501 shares of the semiconductor manufacturer’s stock valued at $8,211,000 after buying an additional 1,437 shares in the last quarter. First American Bank raised its stake in Broadcom Limited by 21.8% in the first quarter. First American Bank now owns 38,754 shares of the semiconductor manufacturer’s stock valued at $8,486,000 after buying an additional 6,932 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its stake in Broadcom Limited by 5.8% in the first quarter. Quadrant Capital Group LLC now owns 1,344 shares of the semiconductor manufacturer’s stock valued at $283,000 after buying an additional 74 shares in the last quarter. Institutional investors own 90.94% of the company’s stock.
Broadcom Limited (AVGO) traded up 0.98% during trading on Friday, reaching $249.37. 2,013,172 shares of the company were exchanged. The stock’s market capitalization is $101.39 billion. Broadcom Limited has a 52-week low of $158.75 and a 52-week high of $258.49. The firm’s 50 day moving average is $247.49 and its 200 day moving average is $230.46.
Broadcom Limited (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, June 1st. The semiconductor manufacturer reported $3.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.50 by $0.19. Broadcom Limited had a positive return on equity of 24.15% and a negative net margin of 1.54%. The company had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.11 billion. During the same quarter in the prior year, the business posted $2.53 earnings per share. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. Analysts expect that Broadcom Limited will post $15.78 EPS for the current year.
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Several equities research analysts have recently commented on AVGO shares. Morgan Stanley restated an “overweight” rating and issued a $265.00 price target (up previously from $245.00) on shares of Broadcom Limited in a report on Thursday, May 25th. Pacific Crest restated an “overweight” rating and issued a $260.00 price target on shares of Broadcom Limited in a report on Wednesday, May 31st. Zacks Investment Research lowered shares of Broadcom Limited from a “buy” rating to a “hold” rating in a research note on Tuesday, May 2nd. Deutsche Bank AG reiterated a “buy” rating and set a $275.00 price objective (up previously from $255.00) on shares of Broadcom Limited in a research note on Thursday, June 1st. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $285.00 price objective (up previously from $265.00) on shares of Broadcom Limited in a research note on Saturday, June 3rd. Two equities research analysts have rated the stock with a hold rating, thirty-six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $263.22.
In related news, SVP Bryan Ingram sold 10,000 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $244.59, for a total transaction of $2,445,900.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kirsten M. Spears sold 1,306 shares of the firm’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $254.15, for a total value of $331,919.90. The disclosure for this sale can be found here. Insiders have sold 41,306 shares of company stock valued at $10,380,120 in the last ninety days. Company insiders own 3.60% of the company’s stock.
About Broadcom Limited
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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