New Mexico Educational Retirement Board cut its stake in shares of Broadcom Limited (NASDAQ:AVGO) by 8.1% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 37,346 shares of the semiconductor manufacturer’s stock after selling 3,300 shares during the period. New Mexico Educational Retirement Board’s holdings in Broadcom Limited were worth $9,212,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. FNY Managed Accounts LLC bought a new stake in Broadcom Limited during the first quarter valued at about $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 acquired a new stake in Broadcom Limited during the first quarter valued at $111,000. Shine Investment Advisory Services Inc. acquired a new stake in Broadcom Limited during the second quarter valued at $116,000. Finally, 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. 90.60% of the stock is currently owned by hedge funds and other institutional investors.
Broadcom Limited (AVGO) opened at 240.71 on Friday. The company has a 50-day moving average price of $245.89 and a 200-day moving average price of $228.35. The firm’s market cap is $97.87 billion. Broadcom Limited has a 12-month low of $158.75 and a 12-month high of $258.49.
Broadcom Limited (NASDAQ:AVGO) last released its earnings results on Thursday, June 1st. The semiconductor manufacturer reported $3.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.50 by $0.19. The firm had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.11 billion. Broadcom Limited had a positive return on equity of 24.15% and a negative net margin of 1.54%. The business’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.53 EPS. On average, analysts predict that Broadcom Limited will post $15.78 earnings per share for the current year.
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Several research firms have weighed in on AVGO. UBS AG reiterated a “buy” rating and set a $265.00 target price (up previously from $245.00) on shares of Broadcom Limited in a research note on Monday, June 5th. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $285.00 price target on shares of Broadcom Limited in a research report on Wednesday, July 12th. Raymond James Financial, Inc. restated a “strong-buy” rating and set a $300.00 price target on shares of Broadcom Limited in a research report on Friday, June 16th. Morgan Stanley restated an “overweight” rating and set a $280.00 price target (up previously from $265.00) on shares of Broadcom Limited in a research report on Saturday, June 3rd. Finally, KeyCorp restated an “overweight” rating and set a $280.00 price target on shares of Broadcom Limited in a research report on Wednesday, July 12th. Two analysts have rated the stock with a hold rating, thirty-four have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average 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 business’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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Bryan Ingram sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $244.59, for a total value of $2,445,900.00. The disclosure for this sale can be found here. Insiders sold a total of 41,306 shares of company stock worth $10,380,120 in the last 90 days. Company insiders own 3.60% of the company’s stock.
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.
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