Broadcom Inc. (NASDAQ:AVGO) Holdings Lifted by Associated Banc Corp

Associated Banc Corp increased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,504.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,435 shares of the semiconductor manufacturer's stock after purchasing an additional 8,847 shares during the quarter. Associated Banc Corp's holdings in Broadcom were worth $1,628,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. lifted its stake in shares of Broadcom by 166.2% in 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. Redwood Investment Management LLC purchased a new stake in Broadcom during the 1st quarter worth about $1,015,000. Creekmur Asset Management LLC increased its holdings in Broadcom by 89.7% during the 1st quarter. Creekmur Asset Management LLC now owns 74 shares of the semiconductor manufacturer's stock worth $98,000 after purchasing an additional 35 shares during the period. Montchanin Asset Management LLC purchased a new stake in Broadcom during the 1st quarter worth about $1,140,000. Finally, Kozak & Associates Inc. increased its holdings in shares of Broadcom by 11.7% in the 1st quarter. Kozak & Associates Inc. now owns 362 shares of the semiconductor manufacturer's stock valued at $510,000 after acquiring an additional 38 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Price Performance

AVGO traded down $5.07 during trading hours on Wednesday, hitting $159.67. The company's stock had a trading volume of 19,699,495 shares, compared to its average volume of 29,185,664. The business's 50-day moving average price is $173.76 and its 200-day moving average price is $161.09. 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 $745.75 billion, a price-to-earnings ratio of 143.13, a P/E/G ratio of 1.94 and a beta of 1.17. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02.

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

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors 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 dividend yield of 1.33%. This is an increase from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. Broadcom's dividend payout ratio (DPR) is presently 184.19%.

Insider Buying and Selling

In related news, insider Mark David Brazeal sold 20,280 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the transaction, the insider now directly owns 399,460 shares in the company, valued at approximately $70,744,366. This represents a 4.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Gayla J. Delly sold 750 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total value of $130,897.50. Following the completion of the sale, the director now owns 34,750 shares of the company's stock, valued at approximately $6,064,917.50. This trade represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AVGO. UBS Group upped their target price on Broadcom from $170.00 to $200.00 and gave the company a "buy" rating in a research report on Monday, November 4th. Morgan Stanley raised their price objective on Broadcom from $176.00 to $180.00 and gave the company an "overweight" rating in a research note on Friday, September 6th. TD Cowen upgraded Broadcom to a "strong-buy" rating in a report on Monday, September 16th. The Goldman Sachs Group lifted their target price on Broadcom from $185.00 to $190.00 and gave the company a "buy" rating in a report on Friday, September 6th. Finally, Cantor Fitzgerald lifted their target price on Broadcom from $200.00 to $225.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $195.96.

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.