First National Bank of Omaha decreased its position in shares of Broadcom Limited (NASDAQ:AVGO) by 20.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 28,337 shares of the semiconductor manufacturer’s stock after selling 7,221 shares during the period. First National Bank of Omaha’s holdings in Broadcom Limited were worth $6,604,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. FNY Managed Accounts LLC bought a new position in shares of Broadcom Limited during the first quarter worth about $100,000. AllSquare Wealth Management LLC boosted its position in shares of Broadcom Limited by 38.0% in the first quarter. AllSquare Wealth Management LLC now owns 483 shares of the semiconductor manufacturer’s stock worth $106,000 after buying an additional 133 shares during the last quarter. Crestwood Advisors Group LLC bought a new position in shares of Broadcom Limited during the first quarter worth about $111,000. Archford Capital Strategies LLC boosted its position in shares of Broadcom Limited by 45.4% in the first quarter. Archford Capital Strategies LLC now owns 538 shares of the semiconductor manufacturer’s stock worth $118,000 after buying an additional 168 shares during the last quarter. Finally, D. Scott Neal Inc. bought a new position in shares of Broadcom Limited during the second quarter worth about $127,000. Institutional investors and hedge funds own 90.60% of the company’s stock.
Shares of Broadcom Limited (NASDAQ AVGO) opened at 244.17 on Friday. The firm’s 50-day moving average price is $245.90 and its 200-day moving average price is $228.73. The stock’s market capitalization is $99.28 billion. Broadcom Limited has a 12 month low of $158.75 and a 12 month high of $258.49.
Broadcom Limited (NASDAQ:AVGO) last posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $4.11 billion. During the same period in the previous year, the firm posted $2.53 EPS. Broadcom Limited’s revenue was up 17.9% compared to the same quarter last year. On average, equities research analysts forecast that Broadcom Limited will post $15.78 EPS for the current year.
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A number of brokerages have issued reports on AVGO. UBS AG reiterated a “buy” rating and set a $265.00 price objective (up previously from $245.00) on shares of Broadcom Limited in a research note on Monday, June 5th. Vetr upgraded Broadcom Limited from a “hold” rating to a “buy” rating and set a $258.25 price objective for the company in a research note on Monday. Royal Bank Of Canada reiterated a “buy” rating and set a $270.00 price objective on shares of Broadcom Limited in a research note on Friday. BidaskClub cut Broadcom Limited from a “strong-buy” rating to a “buy” rating in a research note on Friday. Finally, B. Riley restated a “buy” rating and issued a $305.00 price target on shares of Broadcom Limited in a research note on Sunday, June 4th. One research analyst has rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $263.22.
In other Broadcom Limited news, SVP Bryan Ingram sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $253.41, for a total value of $7,602,300.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kirsten M. Spears sold 1,306 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $254.15, for a total transaction of $331,919.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,306 shares of company stock worth $10,380,120. 3.60% of the stock is currently owned by insiders.
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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