Broadcom Inc. (NASDAQ:AVGO) Holdings Boosted by AlpInvest Partners B.V.

AlpInvest Partners B.V. boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 350.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 124,531 shares of the semiconductor manufacturer's stock after acquiring an additional 96,858 shares during the quarter. Broadcom accounts for about 12.7% of AlpInvest Partners B.V.'s portfolio, making the stock its 5th largest position. AlpInvest Partners B.V.'s holdings in Broadcom were worth $21,482,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Castleview Partners LLC boosted its holdings in Broadcom by 1,030.8% in the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock valued at $25,000 after acquiring an additional 134 shares during the last quarter. Tsfg LLC lifted its position in shares of Broadcom by 1,073.7% in the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock worth $38,000 after purchasing an additional 204 shares during the period. Cedar Wealth Management LLC boosted its stake in shares of Broadcom by 900.0% in the 3rd quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer's stock valued at $41,000 after purchasing an additional 216 shares during the last quarter. Krane Funds Advisors LLC acquired a new stake in shares of Broadcom during the third quarter worth $42,000. Finally, Highline Wealth Partners LLC bought a new position in Broadcom during the third quarter worth $45,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. TD Cowen upgraded Broadcom to a "strong-buy" rating in a report on Monday, September 16th. Benchmark reissued a "buy" rating and issued a $210.00 price target on shares of Broadcom in a research note on Friday, September 6th. Morgan Stanley raised their price objective on shares of Broadcom from $176.00 to $180.00 and gave the stock an "overweight" rating in a research report on Friday, September 6th. UBS Group increased their target price on shares of Broadcom from $170.00 to $200.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Broadcom from $200.00 to $210.00 and gave the company an "overweight" rating in a research note on Friday, September 6th. Two research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $192.79.

Insider Transactions at Broadcom

In related news, Director Gayla J. Delly sold 750 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total value of $130,897.50. Following the sale, the director now owns 34,750 shares in the company, valued at approximately $6,064,917.50. This trade represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 18,900 shares of the firm's stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total value of $3,456,432.00. Following the completion of the sale, the insider now directly owns 380,560 shares in the company, valued at approximately $69,596,812.80. The trade was a 4.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock worth $53,540,590 over the last quarter. Corporate insiders own 2.00% of the company's stock.

Broadcom Stock Performance

AVGO traded up $0.29 during trading on Friday, hitting $164.23. 17,332,473 shares of the company traded hands, compared to its average volume of 18,615,522. The firm has a market cap of $767.05 billion, a P/E ratio of 142.81, a price-to-earnings-growth ratio of 1.93 and a beta of 1.17. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a one year low of $90.31 and a one year high of $186.42. The stock's fifty day moving average is $173.70 and its 200 day moving average is $160.62.

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

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend was Thursday, September 19th. This is a positive change from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio (DPR) is currently 184.35%.

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.