Broadcom Inc. (NASDAQ:AVGO) Stock Position Raised by Cantillon Capital Management LLC

Cantillon Capital Management LLC increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 849.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,331,393 shares of the semiconductor manufacturer's stock after buying an additional 6,559,316 shares during the period. Broadcom comprises approximately 7.7% of Cantillon Capital Management LLC's investment portfolio, making the stock its largest holding. Cantillon Capital Management LLC owned approximately 0.16% of Broadcom worth $1,264,665,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AVGO. Stonebridge Capital Advisors LLC raised its position in shares of Broadcom by 18.9% in the first quarter. Stonebridge Capital Advisors LLC now owns 226 shares of the semiconductor manufacturer's stock valued at $300,000 after buying an additional 36 shares during the last quarter. Gamco Investors INC. ET AL lifted its stake in Broadcom by 80.5% in the 1st quarter. Gamco Investors INC. ET AL now owns 897 shares of the semiconductor manufacturer's stock worth $1,189,000 after purchasing an additional 400 shares in the last quarter. Epoch Investment Partners Inc. boosted its holdings in shares of Broadcom by 6.2% during the 1st quarter. Epoch Investment Partners Inc. now owns 395,266 shares of the semiconductor manufacturer's stock worth $523,890,000 after purchasing an additional 23,162 shares during the last quarter. Lazard Asset Management LLC grew its position in shares of Broadcom by 297.2% in the first quarter. Lazard Asset Management LLC now owns 523,732 shares of the semiconductor manufacturer's stock valued at $694,158,000 after purchasing an additional 391,877 shares in the last quarter. Finally, Steel Grove Capital Advisors LLC increased its holdings in shares of Broadcom by 75.5% in the first quarter. Steel Grove Capital Advisors LLC now owns 918 shares of the semiconductor manufacturer's stock valued at $1,217,000 after purchasing an additional 395 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analysts Set New Price Targets

AVGO has been the topic of a number of recent research reports. Benchmark reissued a "buy" rating and set a $210.00 price objective on shares of Broadcom in a research note on Friday, September 6th. Rosenblatt Securities reduced their target price on Broadcom from $2,400.00 to $240.00 and set a "buy" rating on the stock in a research report on Friday, September 6th. Morgan Stanley increased 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. The Goldman Sachs Group boosted their target price on Broadcom from $185.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, September 6th. Finally, JPMorgan Chase & Co. increased their target price on Broadcom from $200.00 to $210.00 and gave the stock an "overweight" rating in a research note on Friday, September 6th. Two analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $192.79.

Broadcom Stock Down 0.8 %

AVGO stock traded down $1.38 during midday trading on Friday, reaching $162.56. 2,394,678 shares of the company were exchanged, compared to its average volume of 29,229,432. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The stock's 50-day simple moving average is $173.77 and its 200 day simple moving average is $160.37. The company has a market cap of $759.25 billion, a price-to-earnings ratio of 142.39, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17. Broadcom Inc. has a 1-year low of $90.31 and a 1-year high of $186.42.

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

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were issued a $0.53 dividend. 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 1.30%. The ex-dividend date was Thursday, September 19th. Broadcom's dividend payout ratio is presently 184.19%.

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 20,280 shares of the business's stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $177.10, for a total value of $3,591,588.00. Following the transaction, the insider now owns 399,460 shares of the company's stock, valued at approximately $70,744,366. The trade was a 4.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the sale, the chief executive officer now directly owns 1,331,910 shares of the company's stock, valued at approximately $217,594,136.70. This represents a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 311,080 shares of company stock worth $53,540,590. Insiders own 2.00% of the company's stock.

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.