Broadcom Limited (AVGO) Holdings Reduced by Dana Investment Advisors Inc.
Dana Investment Advisors Inc. decreased its holdings in shares of Broadcom Limited (NASDAQ:AVGO) by 6.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 153,206 shares of the semiconductor manufacturer’s stock after selling 9,806 shares during the period. Broadcom Limited comprises 1.7% of Dana Investment Advisors Inc.’s portfolio, making the stock its 8th biggest holding. Dana Investment Advisors Inc.’s holdings in Broadcom Limited were worth $35,705,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Gotham Asset Management LLC bought a new position in Broadcom Limited during the second quarter worth about $854,000. Lenox Wealth Management Inc. bought a new position in Broadcom Limited during the second quarter worth about $627,000. Peapack Gladstone Financial Corp lifted its stake in Broadcom Limited by 0.5% during the second quarter. Peapack Gladstone Financial Corp now owns 2,158 shares of the semiconductor manufacturer’s stock worth $503,000 after purchasing an additional 10 shares during the period. Janus Henderson Group PLC lifted its stake in Broadcom Limited by 141.2% during the second quarter. Janus Henderson Group PLC now owns 1,884,487 shares of the semiconductor manufacturer’s stock worth $439,156,000 after purchasing an additional 1,103,030 shares during the period. Finally, San Francisco Sentry Investment Group CA bought a new position in Broadcom Limited during the second quarter worth about $198,000. Hedge funds and other institutional investors own 89.71% of the company’s stock.
In other Broadcom Limited news, insider Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $246.48, for a total value of $4,929,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Charlie B. Kawwas sold 1,788 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $247.28, for a total transaction of $442,136.64. The disclosure for this sale can be found here. Insiders sold 61,788 shares of company stock valued at $15,098,237 over the last 90 days. Corporate insiders own 3.60% of the company’s stock.
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Broadcom Limited (NASDAQ:AVGO) traded up 0.66% during midday trading on Thursday, reaching $243.59. 1,388,480 shares of the company traded hands. Broadcom Limited has a 12-month low of $160.62 and a 12-month high of $259.36. The company has a 50 day moving average of $246.24 and a 200-day moving average of $238.16. The stock has a market capitalization of $99.38 billion, a P/E ratio of 185.52 and a beta of 1.08.
Broadcom Limited (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $4.03 by $0.07. The business had revenue of $4.47 billion during the quarter, compared to analysts’ expectations of $4.46 billion. Broadcom Limited had a net margin of 3.12% and a return on equity of 26.82%. The business’s quarterly revenue was up 17.5% on a year-over-year basis. 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 fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Tuesday, September 19th were issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date was Monday, September 18th. Broadcom Limited’s payout ratio is 348.72%.
Several analysts have recently weighed in on the stock. UBS AG reaffirmed a “buy” rating and set a $265.00 price objective on shares of Broadcom Limited in a report on Monday, June 26th. B. Riley reaffirmed a “buy” rating and set a $305.00 price objective on shares of Broadcom Limited in a report on Saturday, August 26th. Vetr raised shares of Broadcom Limited from a “hold” rating to a “buy” rating and set a $258.25 price objective for the company in a report on Monday, August 14th. BidaskClub lowered shares of Broadcom Limited from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $270.00 price objective on shares of Broadcom Limited in a report on Friday, August 11th. One research analyst has rated the stock with a hold rating, thirty have assigned a buy rating and four have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $276.80.
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.
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