Crosslink Capital Inc. Decreases Stake in Broadcom Limited (AVGO)

Crosslink Capital Inc. reduced its stake in shares of Broadcom Limited (NASDAQ:AVGO) by 10.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 117,377 shares of the semiconductor manufacturer’s stock after selling 13,670 shares during the quarter. Broadcom Limited comprises 4.3% of Crosslink Capital Inc.’s portfolio, making the stock its 4th biggest position. Crosslink Capital Inc.’s holdings in Broadcom Limited were worth $27,355,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Alps Advisors Inc. acquired a new position in shares of Broadcom Limited during the 2nd quarter worth about $221,000. Principal Financial Group Inc. grew its position in shares of Broadcom Limited by 14.4% during the 2nd quarter. Principal Financial Group Inc. now owns 667,057 shares of the semiconductor manufacturer’s stock worth $155,459,000 after buying an additional 83,929 shares during the period. DSAM Partners London Ltd grew its position in shares of Broadcom Limited by 103.4% during the 2nd quarter. DSAM Partners London Ltd now owns 184,714 shares of the semiconductor manufacturer’s stock worth $43,048,000 after buying an additional 93,890 shares during the period. Segment Wealth Management LLC grew its position in shares of Broadcom Limited by 6.1% during the 2nd quarter. Segment Wealth Management LLC now owns 14,030 shares of the semiconductor manufacturer’s stock worth $3,269,000 after buying an additional 810 shares during the period. Finally, Teachers Advisors LLC grew its position in shares of Broadcom Limited by 0.3% during the 2nd quarter. Teachers Advisors LLC now owns 1,280,437 shares of the semiconductor manufacturer’s stock worth $298,406,000 after buying an additional 4,357 shares during the period. Institutional investors own 89.71% of the company’s stock.

Broadcom Limited (AVGO) traded up 0.25% on Thursday, hitting $251.02. The company had a trading volume of 1,049,128 shares. Broadcom Limited has a one year low of $160.62 and a one year high of $259.36. The stock has a 50 day moving average of $245.61 and a 200-day moving average of $239.18. The stock has a market capitalization of $102.41 billion, a PE ratio of 191.18 and a beta of 1.08.

Broadcom Limited (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 EPS for the quarter, topping the Zacks’ consensus estimate of $4.03 by $0.07. The business had revenue of $4.47 billion for the quarter, compared to analyst estimates of $4.46 billion. Broadcom Limited had a return on equity of 26.82% and a net margin of 3.12%. Broadcom Limited’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period last year, the company posted $2.89 earnings per share. Equities analysts anticipate 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 was Monday, September 18th. This represents a $4.08 dividend on an annualized basis and a yield of 1.63%. Broadcom Limited’s dividend payout ratio (DPR) is currently 348.72%.

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Several research firms have recently issued reports on AVGO. UBS AG restated a “buy” rating and set a $265.00 target price on shares of Broadcom Limited in a research report on Monday, June 26th. B. Riley reiterated a “buy” rating and set a $305.00 price objective on shares of Broadcom Limited in a report on Saturday, August 26th. Vetr upgraded Broadcom Limited from a “hold” rating to a “buy” rating and set a $258.25 price objective on the stock in a report on Monday, August 14th. BidaskClub cut Broadcom Limited from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. Finally, Bank of America Corporation reiterated a “buy” rating and set a $300.00 price objective on shares of Broadcom Limited in a report on Friday, October 6th. One investment analyst has rated the stock with a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $276.80.

In related news, SVP Bryan Ingram sold 30,000 shares of Broadcom Limited stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $244.01, for a total transaction of $7,320,300.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Charlie B. Kawwas sold 1,788 shares of Broadcom Limited stock in a transaction on Monday, September 11th. The stock was 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. Insiders have sold 61,788 shares of company stock worth $15,098,237 over the last quarter. 3.60% of the stock is currently owned by corporate insiders.

Broadcom Limited 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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