Shelton Capital Management reduced its position in Broadcom Limited (NASDAQ:AVGO) by 37.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,271 shares of the semiconductor manufacturer’s stock after selling 20,311 shares during the quarter. Shelton Capital Management’s holdings in Broadcom Limited were worth $7,987,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of Broadcom Limited by 2,707.3% in the first quarter. BlackRock Inc. now owns 23,131,935 shares of the semiconductor manufacturer’s stock valued at $5,064,971,000 after buying an additional 22,307,935 shares during the period. Vanguard Group Inc. grew its stake in shares of Broadcom Limited by 7.0% during the 1st quarter. Vanguard Group Inc. now owns 26,768,435 shares of the semiconductor manufacturer’s stock worth $5,861,217,000 after acquiring an additional 1,746,144 shares during the period. Harbour Capital Advisors LLC grew its stake in shares of Broadcom Limited by 22,924.6% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,530,905 shares of the semiconductor manufacturer’s stock worth $6,569,000 after acquiring an additional 1,524,256 shares during the period. Wellington Management Group LLP grew its stake in shares of Broadcom Limited by 29.3% during the 1st quarter. Wellington Management Group LLP now owns 6,710,760 shares of the semiconductor manufacturer’s stock worth $1,469,388,000 after acquiring an additional 1,519,598 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in shares of Broadcom Limited by 18.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,704,177 shares of the semiconductor manufacturer’s stock worth $2,028,442,000 after acquiring an additional 1,338,695 shares during the period. 89.71% of the stock is owned by institutional investors and hedge funds.

AVGO has been the subject of several recent research reports. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $285.00 price objective on shares of Broadcom Limited in a report on Wednesday, July 12th. Raymond James Financial, Inc. reaffirmed a “strong-buy” rating and set a $300.00 price objective on shares of Broadcom Limited in a report on Friday, June 16th. Loop Capital reaffirmed a “buy” rating and set a $302.00 price objective on shares of Broadcom Limited in a report on Friday, August 25th. Morgan Stanley reaffirmed a “buy” rating and set a $290.00 price objective on shares of Broadcom Limited in a report on Friday, August 25th. Finally, KeyCorp reiterated an “overweight” rating and set a $280.00 target price on shares of Broadcom Limited in a research report on Wednesday, July 12th. One equities research analyst has rated the stock with a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $276.80.

Shares of Broadcom Limited (NASDAQ AVGO) traded up 0.36% on Wednesday, hitting $240.37. 945,995 shares of the company traded hands. Broadcom Limited has a 1-year low of $160.62 and a 1-year high of $259.36. The firm’s 50 day moving average price is $246.58 and its 200-day moving average price is $238.13. The stock has a market capitalization of $98.07 billion, a price-to-earnings ratio of 183.07 and a beta of 1.08.

Broadcom Limited (NASDAQ:AVGO) last announced its 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 firm had revenue of $4.47 billion during the quarter, compared to analysts’ expectations of $4.46 billion. Broadcom Limited had a return on equity of 26.82% and a net margin of 3.12%. The company’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.89 EPS. On average, equities research analysts expect that Broadcom Limited will post $15.91 earnings per share for the current year.

The business 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 annualized dividend and a yield of 1.70%. Broadcom Limited’s payout ratio is presently 348.72%.

TRADEMARK VIOLATION WARNING: “Shelton Capital Management Sells 20,311 Shares of Broadcom Limited (AVGO)” was reported by Marea Informative and is owned by of Marea Informative. If you are viewing this article on another domain, it was illegally copied and republished in violation of international copyright legislation. The correct version of this article can be accessed at http://www.mareainformativa.com/shelton-capital-management-sells-20311-shares-of-broadcom-limited-avgo/115310/.

In related news, SVP Bryan Ingram sold 30,000 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $244.01, for a total transaction of $7,320,300.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Hock E. Tan sold 20,000 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $246.48, for a total transaction of $4,929,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 61,788 shares of company stock worth $15,098,237 in the last 90 days. 3.60% of the stock is currently owned by 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.

Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Limited (NASDAQ:AVGO).

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

Receive News & Stock Ratings for Broadcom Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom Limited and related stocks with our FREE daily email newsletter.