Parkwood LLC Buys 2,530 Shares of Broadcom Limited (NASDAQ:AVGO)

Parkwood LLC boosted its position in Broadcom Limited (NASDAQ:AVGO) by 25.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,621 shares of the semiconductor manufacturer’s stock after buying an additional 2,530 shares during the period. Parkwood LLC’s holdings in Broadcom Limited were worth $2,941,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Broadcom Limited by 7.0% in the first quarter. Vanguard Group Inc. now owns 26,768,435 shares of the semiconductor manufacturer’s stock valued at $5,861,217,000 after buying an additional 1,746,144 shares in the last quarter. BlackRock Inc. increased its position in shares of Broadcom Limited by 2,707.3% in the first quarter. BlackRock Inc. now owns 23,131,935 shares of the semiconductor manufacturer’s stock valued at $5,064,971,000 after buying an additional 22,307,935 shares in the last quarter. State Street Corp increased its position in shares of Broadcom Limited by 3.8% in the first quarter. State Street Corp now owns 15,805,653 shares of the semiconductor manufacturer’s stock valued at $3,460,804,000 after buying an additional 583,498 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Broadcom Limited by 29.3% in the first quarter. Wellington Management Group LLP now owns 6,710,760 shares of the semiconductor manufacturer’s stock valued at $1,469,388,000 after buying an additional 1,519,598 shares in the last quarter. Finally, Jennison Associates LLC increased its position in shares of Broadcom Limited by 904.2% in the first quarter. Jennison Associates LLC now owns 4,201,357 shares of the semiconductor manufacturer’s stock valued at $919,929,000 after buying an additional 3,782,991 shares in the last quarter. Institutional investors and hedge funds own 90.94% of the company’s stock.

Shares of Broadcom Limited (NASDAQ AVGO) traded up 0.98% during trading on Friday, reaching $249.37. 2,013,172 shares of the company were exchanged. The stock’s 50 day moving average is $247.49 and its 200 day moving average is $230.46. Broadcom Limited has a 1-year low of $158.75 and a 1-year high of $258.49. The company’s market capitalization is $101.39 billion.

Broadcom Limited (NASDAQ:AVGO) last posted its earnings results on Thursday, June 1st. The semiconductor manufacturer reported $3.69 EPS for the quarter, beating the Zacks’ consensus estimate of $3.50 by $0.19. Broadcom Limited had a negative net margin of 1.54% and a positive return on equity of 24.15%. The company had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.11 billion. During the same quarter in the prior year, the company posted $2.53 earnings per share. Broadcom Limited’s revenue for the quarter was up 17.9% compared to the same quarter last year. Equities analysts anticipate that Broadcom Limited will post $15.78 earnings per share for the current year.

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A number of analysts have commented on the stock. Vetr raised shares of Broadcom Limited from a “hold” rating to a “buy” rating and set a $258.25 price target on the stock in a research report on Monday. Zacks Investment Research cut shares of Broadcom Limited from a “buy” rating to a “hold” rating in a research report on Thursday. Cowen and Company reaffirmed a “buy” rating and set a $260.00 price target on shares of Broadcom Limited in a research report on Friday, August 11th. BidaskClub cut shares of Broadcom Limited from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $270.00 price objective on shares of Broadcom Limited in a research report on Friday, August 11th. Two analysts have rated the stock with a hold rating, thirty-six have given a buy rating and one has given a strong buy rating to the company’s stock. Broadcom Limited presently has a consensus rating of “Buy” and an average target price of $263.22.

In other Broadcom Limited news, insider Kirsten M. Spears sold 1,306 shares of the company’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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Bryan Ingram sold 30,000 shares of the company’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $253.41, for a total transaction of $7,602,300.00. The disclosure for this sale can be found here. Insiders sold 41,306 shares of company stock worth $10,380,120 in the last ninety days. 3.60% of the stock is currently owned by corporate 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.

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

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