Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. lifted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 924.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 343,673 shares of the semiconductor manufacturer's stock after purchasing an additional 310,118 shares during the quarter. Broadcom accounts for approximately 1.6% of Northwest & Ethical Investments L.P.'s investment portfolio, making the stock its 4th largest position. Northwest & Ethical Investments L.P.'s holdings in Broadcom were worth $59,284,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Jacobs Levy Equity Management Inc. increased its position in shares of Broadcom by 166.2% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 2,316 shares of the semiconductor manufacturer's stock valued at $3,070,000 after purchasing an additional 1,446 shares during the last quarter. Soltis Investment Advisors LLC increased its position in Broadcom by 7.4% during the first quarter. Soltis Investment Advisors LLC now owns 521 shares of the semiconductor manufacturer's stock valued at $690,000 after acquiring an additional 36 shares during the last quarter. Cypress Asset Management Inc. TX increased its position in Broadcom by 26.1% during the first quarter. Cypress Asset Management Inc. TX now owns 6,190 shares of the semiconductor manufacturer's stock valued at $8,345,000 after acquiring an additional 1,282 shares during the last quarter. American Trust raised its stake in shares of Broadcom by 9.8% in the first quarter. American Trust now owns 495 shares of the semiconductor manufacturer's stock valued at $656,000 after acquiring an additional 44 shares during the period. Finally, Jackson Wealth Management LLC lifted its holdings in shares of Broadcom by 2.2% in the 1st quarter. Jackson Wealth Management LLC now owns 18,312 shares of the semiconductor manufacturer's stock worth $24,271,000 after acquiring an additional 386 shares during the last quarter. Institutional investors own 76.43% of the company's stock.

Analyst Ratings Changes

AVGO has been the topic of a number of recent analyst reports. William Blair assumed coverage on shares of Broadcom in a research report on Wednesday, September 18th. They issued an "outperform" rating on the stock. The Goldman Sachs Group increased their price target on Broadcom from $185.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, September 6th. Mizuho boosted their price objective on Broadcom from $190.00 to $220.00 and gave the company an "outperform" rating in a report on Monday, October 14th. Morgan Stanley increased their target price on Broadcom from $176.00 to $180.00 and gave the stock an "overweight" rating in a research note on Friday, September 6th. Finally, TD Cowen upgraded shares of Broadcom to a "strong-buy" rating in a report on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Broadcom currently has an average rating of "Moderate Buy" and an average price target of $195.96.

Insider Activity

In related news, CEO Hock E. Tan sold 150,000 shares of the firm's stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the completion of the transaction, the chief executive officer now owns 1,181,910 shares of the company's stock, valued at $204,399,515.40. This trade represents a 11.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gayla J. Delly sold 750 shares of the company's stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total transaction of $130,897.50. Following the completion of the sale, the director now directly owns 34,750 shares in the company, valued at approximately $6,064,917.50. The trade was a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock valued at $53,540,590 over the last ninety days. 2.00% of the stock is currently owned by insiders.

Broadcom Stock Up 1.5 %

AVGO stock traded up $2.41 on Friday, hitting $162.08. 11,024,005 shares of the company's stock were exchanged, compared to its average volume of 29,107,898. The firm has a 50 day moving average price of $173.39 and a two-hundred day moving average price of $161.69. Broadcom Inc. has a 12-month low of $90.31 and a 12-month high of $186.42. The stock has a market cap of $757.01 billion, a P/E ratio of 140.82, a price-to-earnings-growth ratio of 1.88 and a beta of 1.17. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping analysts' consensus estimates of $1.20 by $0.04. The business had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company's revenue was up 47.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.95 earnings per share. As a group, equities research analysts expect that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a dividend of $0.53 per share. This is an increase from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.31%. The ex-dividend date was Thursday, September 19th. Broadcom's payout ratio is presently 184.19%.

Broadcom Company Profile

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.