American Century Companies Inc. Buys 3,022,589 Shares of Broadcom Inc. (NASDAQ:AVGO)

American Century Companies Inc. boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 72.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,174,741 shares of the semiconductor manufacturer's stock after purchasing an additional 3,022,589 shares during the quarter. Broadcom comprises approximately 1.0% of American Century Companies Inc.'s investment portfolio, making the stock its 11th biggest position. American Century Companies Inc. owned about 0.15% of Broadcom worth $1,663,392,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of AVGO. State Street Corp grew its stake in Broadcom by 948.5% in the 3rd quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer's stock valued at $31,814,902,000 after buying an additional 166,844,263 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Broadcom by 976.6% in the third quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer's stock valued at $17,055,760,000 after purchasing an additional 89,975,941 shares during the last quarter. FMR LLC grew its position in shares of Broadcom by 1,121.3% in the third quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer's stock valued at $15,594,088,000 after purchasing an additional 82,998,328 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Broadcom by 842.4% during the third quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer's stock worth $6,209,758,000 after purchasing an additional 32,178,542 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Broadcom by 975.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer's stock worth $5,833,894,000 after purchasing an additional 30,674,902 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

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Insider Transactions at Broadcom

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the company's stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the transaction, the director now directly owns 46,400 shares of the company's stock, valued at $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Charlie B. Kawwas sold 40,000 shares of Broadcom stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the sale, the insider now directly owns 696,730 shares of the company's stock, valued at approximately $161,627,425.40. The trade was a 5.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 92,000 shares of company stock valued at $21,494,560 in the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several recent research reports. Cantor Fitzgerald reiterated an "overweight" rating and set a $300.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Citigroup upped their price objective on shares of Broadcom from $175.00 to $205.00 and gave the stock a "buy" rating in a research report on Tuesday, December 10th. Robert W. Baird lifted their target price on Broadcom from $195.00 to $210.00 and gave the company an "outperform" rating in a research report on Friday, December 13th. Mizuho decreased their target price on shares of Broadcom from $260.00 to $250.00 and set an "outperform" rating on the stock in a research note on Friday, March 7th. Finally, Evercore ISI increased their price target on Broadcom from $201.00 to $250.00 and gave the company an "outperform" rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $231.48.

Broadcom Stock Down 1.6 %

Shares of Broadcom stock traded down $2.99 during trading on Tuesday, reaching $188.26. 23,379,840 shares of the company traded hands, compared to its average volume of 28,950,584. The firm has a market capitalization of $885.19 billion, a PE ratio of 153.56, a P/E/G ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The company has a 50 day moving average price of $213.70 and a 200-day moving average price of $195.64. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be issued a dividend of $0.59 per share. The ex-dividend date is Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.25%. Broadcom's dividend payout ratio is currently 113.46%.

About Broadcom

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.