IBM Retirement Fund cut its position in shares of Broadcom Limited (NASDAQ:AVGO) by 84.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,337 shares of the semiconductor manufacturer’s stock after selling 30,070 shares during the period. IBM Retirement Fund’s holdings in Broadcom Limited were worth $1,476,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. iAB Financial Bank raised its position in Broadcom Limited by 45.1% in the first quarter. iAB Financial Bank now owns 1,690 shares of the semiconductor manufacturer’s stock worth $370,000 after buying an additional 525 shares during the period. BTIM Corp. bought a new position in Broadcom Limited during the first quarter worth about $219,000. Comerica Bank raised its position in Broadcom Limited by 1.3% in the first quarter. Comerica Bank now owns 106,595 shares of the semiconductor manufacturer’s stock worth $23,780,000 after buying an additional 1,375 shares during the period. V Wealth Management LLC bought a new position in Broadcom Limited during the first quarter worth about $206,000. Finally, Wesbanco Bank Inc. raised its position in Broadcom Limited by 1.6% in the first quarter. Wesbanco Bank Inc. now owns 118,971 shares of the semiconductor manufacturer’s stock worth $26,050,000 after buying an additional 1,853 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

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

Shares of Broadcom Limited (NASDAQ AVGO) opened at 236.25 on Friday. The stock’s market cap is $96.06 billion. Broadcom Limited has a 52 week low of $142.27 and a 52 week high of $256.78. The stock’s 50 day moving average price is $237.17 and its 200 day moving average price is $210.31. Broadcom Limited also was the target of some unusual options trading activity on Wednesday. Traders bought 30,751 call options on the company. This represents an increase of approximately 200% compared to the average volume of 10,253 call options.

Broadcom Limited (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, June 1st. The semiconductor manufacturer reported $3.69 EPS for the quarter, beating the Zacks’ consensus estimate of $3.50 by $0.19. Broadcom Limited had a negative net margin of 1.54% and a positive return on equity of 24.15%. The business had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.11 billion. During the same quarter last year, the business earned $2.53 earnings per share. The business’s revenue for the quarter was up 17.9% on a year-over-year basis. Equities research analysts anticipate that Broadcom Limited will post $15.77 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Monday, June 19th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Thursday, June 15th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.73%. Broadcom Limited’s dividend payout ratio is presently -566.66%.

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AVGO has been the subject of a number of recent research reports. Barclays PLC reiterated an “overweight” rating and issued a $250.00 target price (up from $240.00) on shares of Broadcom Limited in a report on Friday, March 10th. Wells Fargo & Company reaffirmed a “market perform” rating and set a $222.50 price target (up from $165.00) on shares of Broadcom Limited in a report on Friday, March 3rd. Rosenblatt Securities assumed coverage on Broadcom Limited in a report on Wednesday, February 22nd. They set a “buy” rating and a $250.00 price target for the company. Royal Bank Of Canada reaffirmed a “top pick” rating and set a $230.00 price target (up from $225.00) on shares of Broadcom Limited in a report on Tuesday, February 21st. Finally, Instinet lifted their price target on Broadcom Limited from $190.00 to $220.00 and gave the stock a “buy” rating in a report on Monday, February 27th. Two analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $255.72.

In related news, insider Kirsten M. Spears sold 1,306 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $254.15, for a total transaction of $331,919.90. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Patricia H. Mccall sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 28th. The shares were sold at an average price of $221.50, for a total transaction of $2,215,000.00. The disclosure for this sale can be found here. Insiders have sold 49,866 shares of company stock worth $12,035,519 in the last quarter. 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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