Aveo Capital Partners LLC acquired a new stake in Broadcom Limited (NASDAQ:AVGO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 6,452 shares of the semiconductor manufacturer’s stock, valued at approximately $1,504,000.
Several other hedge funds also recently made changes to their positions in the company. FNY Managed Accounts LLC bought a new stake in shares of Broadcom Limited during the first quarter valued at approximately $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 in the last quarter. Crestwood Advisors Group LLC purchased a new position in shares of Broadcom Limited during the first quarter worth about $111,000. Shine Investment Advisory Services Inc. purchased a new position in shares of Broadcom Limited during the second quarter worth about $116,000. Finally, 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 in the last quarter. 90.60% of the stock is owned by institutional investors.
Broadcom Limited (NASDAQ:AVGO) opened at 249.17 on Thursday. The stock’s 50 day moving average price is $246.02 and its 200 day moving average price is $228.26. The stock’s market capitalization is $101.31 billion. Broadcom Limited has a 1-year low of $158.75 and a 1-year high of $258.49.
Broadcom Limited (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, June 1st. The semiconductor manufacturer reported $3.69 earnings per share (EPS) for the quarter, topping the Zacks’ 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 during the quarter, compared to analyst estimates of $4.11 billion. During the same period last year, the company earned $2.53 EPS. Broadcom Limited’s quarterly revenue was up 17.9% compared to the same quarter last year. On average, equities research analysts predict that Broadcom Limited will post $15.78 earnings per share for the current fiscal year.
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A number of equities analysts recently issued reports on the company. Vetr cut Broadcom Limited from a “buy” rating to a “hold” rating and set a $258.25 target price on the stock. in a report on Tuesday. Morgan Stanley increased their target price on Broadcom Limited from $280.00 to $290.00 and gave the stock an “overweight” rating in a report on Monday, July 17th. KeyCorp reiterated an “overweight” rating and issued a $280.00 target price on shares of Broadcom Limited in a report on Wednesday, July 12th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $285.00 target price on shares of Broadcom Limited in a report on Wednesday, July 12th. Finally, Mizuho reiterated a “buy” rating and issued a $275.00 target price on shares of Broadcom Limited in a report on Monday, July 3rd. Two equities research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $263.22.
In related news, SVP Bryan Ingram sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $253.41, for a total transaction of $7,602,300.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 stock was 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 a total of 41,306 shares of company stock valued at $10,380,120 over the last three months. 3.60% of the stock is owned by corporate 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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