Alliancebernstein L.P. Sells 165,443 Shares of Broadcom Limited (AVGO)

Alliancebernstein L.P. trimmed its stake in Broadcom Limited (NASDAQ:AVGO) by 11.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,317,715 shares of the semiconductor manufacturer’s stock after selling 165,443 shares during the quarter. Alliancebernstein L.P. owned approximately 0.32% of Broadcom Limited worth $307,093,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Broadcom Limited by 7.0% in the first quarter. Vanguard Group Inc. now owns 26,768,435 shares of the semiconductor manufacturer’s stock valued at $5,861,217,000 after buying an additional 1,746,144 shares during the last quarter. BlackRock Inc. lifted its stake in 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 last quarter. State Street Corp lifted its stake in Broadcom Limited by 3.8% in the first quarter. State Street Corp now owns 15,805,653 shares of the semiconductor manufacturer’s stock valued at $3,460,804,000 after buying an additional 583,498 shares during the last quarter. Wellington Management Group LLP lifted its stake in Broadcom Limited by 29.3% in the first quarter. Wellington Management Group LLP now owns 6,710,760 shares of the semiconductor manufacturer’s stock valued at $1,469,388,000 after buying an additional 1,519,598 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in Broadcom Limited by 26.7% in the second quarter. Jennison Associates LLC now owns 5,345,868 shares of the semiconductor manufacturer’s stock valued at $1,245,855,000 after buying an additional 1,128,052 shares during the last quarter. Institutional investors own 89.70% of the company’s stock.

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Shares of Broadcom Limited (NASDAQ:AVGO) opened at 239.24 on Friday. Broadcom Limited has a 12-month low of $160.62 and a 12-month high of $259.36. The firm has a market capitalization of $97.60 billion, a price-to-earnings ratio of 182.21 and a beta of 1.07. The company has a 50-day moving average price of $249.11 and a 200 day moving average price of $236.86.

Broadcom Limited (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.03 by $0.07. Broadcom Limited had a return on equity of 26.82% and a net margin of 3.12%. The firm had revenue of $4.47 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same period last year, the company earned $2.89 earnings per share. The business’s revenue was up 17.5% compared to the same quarter last year. Equities research analysts expect that Broadcom Limited will post $15.92 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Tuesday, September 19th will be given a $1.02 dividend. The ex-dividend date of this dividend is Monday, September 18th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.71%. Broadcom Limited’s payout ratio is 348.72%.

In related news, insider Hock E. Tan sold 20,000 shares of Broadcom Limited stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $246.48, for a total transaction 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 Bryan Ingram sold 30,000 shares of Broadcom Limited stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $244.01, for a total value of $7,320,300.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,788 shares of company stock valued at $12,692,037. Insiders own 3.60% of the company’s stock.

A number of equities research analysts recently weighed in on the stock. KeyCorp restated an “overweight” rating and set a $280.00 price objective on shares of Broadcom Limited in a research note on Wednesday, August 23rd. Rosenblatt Securities restated a “buy” rating and set a $270.00 price objective on shares of Broadcom Limited in a research note on Wednesday, August 23rd. UBS AG restated an “overweight” rating on shares of Broadcom Limited in a research note on Thursday, August 24th. Robert W. Baird restated an ̶

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Broadcom Limited by 7.0% in the first quarter. Vanguard Group Inc. now owns 26,768,435 shares of the semiconductor manufacturer’s stock valued at $5,861,217,000 after buying an additional 1,746,144 shares during the last quarter. BlackRock Inc. lifted its stake in 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 last quarter. State Street Corp lifted its stake in Broadcom Limited by 3.8% in the first quarter. State Street Corp now owns 15,805,653 shares of the semiconductor manufacturer’s stock valued at $3,460,804,000 after buying an additional 583,498 shares during the last quarter. Wellington Management Group LLP lifted its stake in Broadcom Limited by 29.3% in the first quarter. Wellington Management Group LLP now owns 6,710,760 shares of the semiconductor manufacturer’s stock valued at $1,469,388,000 after buying an additional 1,519,598 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in Broadcom Limited by 26.7% in the second quarter. Jennison Associates LLC now owns 5,345,868 shares of the semiconductor manufacturer’s stock valued at $1,245,855,000 after buying an additional 1,128,052 shares during the last quarter. Institutional investors own 89.70% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This article was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this article on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright laws. The correct version of this article can be viewed at https://ledgergazette.com/2017/09/23/alliancebernstein-l-p-reduces-position-in-broadcom-limited-avgo.html.

Shares of Broadcom Limited (NASDAQ:AVGO) opened at 239.24 on Friday. Broadcom Limited has a 12-month low of $160.62 and a 12-month high of $259.36. The firm has a market capitalization of $97.60 billion, a price-to-earnings ratio of 182.21 and a beta of 1.07. The company has a 50-day moving average price of $249.11 and a 200 day moving average price of $236.86.

Broadcom Limited (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.03 by $0.07. Broadcom Limited had a return on equity of 26.82% and a net margin of 3.12%. The firm had revenue of $4.47 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same period last year, the company earned $2.89 earnings per share. The business’s revenue was up 17.5% compared to the same quarter last year. Equities research analysts expect that Broadcom Limited will post $15.92 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Tuesday, September 19th will be given a $1.02 dividend. The ex-dividend date of this dividend is Monday, September 18th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.71%. Broadcom Limited’s payout ratio is 348.72%.

In related news, insider Hock E. Tan sold 20,000 shares of Broadcom Limited stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $246.48, for a total transaction 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 Bryan Ingram sold 30,000 shares of Broadcom Limited stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $244.01, for a total value of $7,320,300.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,788 shares of company stock valued at $12,692,037. Insiders own 3.60% of the company’s stock.

A number of equities research analysts recently weighed in on the stock. KeyCorp restated an “overweight” rating and set a $280.00 price objective on shares of Broadcom Limited in a research note on Wednesday, August 23rd. Rosenblatt Securities restated a “buy” rating and set a $270.00 price objective on shares of Broadcom Limited in a research note on Wednesday, August 23rd. UBS AG restated an “overweight” rating on shares of Broadcom Limited in a research note on Thursday, August 24th. Robert W. Baird restated an “outperform” rating and set a $290.00 price objective (up from $260.00) on shares of Broadcom Limited in a research note on Friday, August 25th. Finally, Jefferies Group LLC restated a “buy” rating and set a $286.00 price objective (up from $270.00) on shares of Broadcom Limited in a research note on Friday, August 25th. Two equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $276.74.

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.

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

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