Cypress Funds LLC Buys Shares of 127,600 Broadcom Limited (NASDAQ:AVGO)

Cypress Funds LLC purchased a new stake in shares of Broadcom Limited (NASDAQ:AVGO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 127,600 shares of the semiconductor manufacturer’s stock, valued at approximately $29,737,000. Broadcom Limited accounts for 5.8% of Cypress Funds LLC’s portfolio, making the stock its 4th largest position.

Other hedge funds have also recently added to or reduced their stakes in the company. FNY Managed Accounts LLC purchased a new stake in Broadcom Limited during the first quarter valued at approximately $100,000. AllSquare Wealth Management LLC raised its stake in Broadcom Limited by 38.0% in the first quarter. AllSquare Wealth Management LLC now owns 483 shares of the semiconductor manufacturer’s stock valued at $106,000 after buying an additional 133 shares during the last quarter. Crestwood Advisors Group LLC purchased a new stake in Broadcom Limited during the first quarter valued at approximately $111,000. Archford Capital Strategies LLC raised its stake in Broadcom Limited by 45.4% in the first quarter. Archford Capital Strategies LLC now owns 538 shares of the semiconductor manufacturer’s stock valued at $118,000 after buying an additional 168 shares during the last quarter. Finally, D. Scott Neal Inc. purchased a new stake in Broadcom Limited during the second quarter valued at approximately $127,000. 90.94% of the stock is owned by institutional investors and hedge funds.

Broadcom Limited (NASDAQ:AVGO) traded up 0.98% on Friday, reaching $249.37. The company’s stock had a trading volume of 2,013,172 shares. Broadcom Limited has a 52 week low of $158.75 and a 52 week high of $258.49. The company’s market capitalization is $101.39 billion. The firm’s 50 day moving average price is $247.49 and its 200-day moving average price is $230.46.

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 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 firm had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.11 billion. During the same period last year, the firm earned $2.53 EPS. The firm’s revenue was up 17.9% compared to the same quarter last year. On average, equities analysts predict that Broadcom Limited will post $15.78 EPS for the current year.

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Several research firms have recently issued reports on AVGO. UBS AG restated a “buy” rating and set a $265.00 price objective (up previously from $245.00) on shares of Broadcom Limited in a report on Monday, June 5th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $285.00 price target on shares of Broadcom Limited in a report on Wednesday, July 12th. Raymond James Financial, Inc. reiterated a “strong-buy” rating and issued a $300.00 price target on shares of Broadcom Limited in a report on Friday, June 16th. Morgan Stanley reiterated an “overweight” rating and issued a $280.00 price target (up previously from $265.00) on shares of Broadcom Limited in a report on Saturday, June 3rd. Finally, KeyCorp restated an “overweight” rating and issued a $280.00 price objective on shares of Broadcom Limited in a research report on Wednesday, July 12th. Two investment analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $263.22.

In related news, SVP Bryan Ingram sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $244.59, for a total value of $2,445,900.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kirsten M. Spears sold 1,306 shares of the firm’s stock in a transaction that occurred on 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. Over the last 90 days, insiders sold 41,306 shares of company stock worth $10,380,120. 3.60% of the stock is 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.

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

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