Diversified LLC increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,102.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,751 shares of the semiconductor manufacturer's stock after acquiring an additional 4,356 shares during the quarter. Diversified LLC's holdings in Broadcom were worth $820,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the business. Jennison Associates LLC increased its stake in shares of Broadcom by 842.4% in the 3rd quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer's stock worth $6,209,758,000 after acquiring an additional 32,178,542 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Broadcom by 962.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,997,455 shares of the semiconductor manufacturer's stock valued at $5,519,591,000 after purchasing an additional 28,985,434 shares during the period. Fisher Asset Management LLC increased its position in Broadcom by 938.8% during the third quarter. Fisher Asset Management LLC now owns 23,422,781 shares of the semiconductor manufacturer's stock worth $4,040,430,000 after purchasing an additional 21,168,095 shares during the last quarter. Swedbank AB raised its stake in Broadcom by 858.7% during the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer's stock worth $3,168,798,000 after purchasing an additional 16,453,718 shares during the period. Finally, Swiss National Bank boosted its holdings in Broadcom by 907.0% in the 3rd quarter. Swiss National Bank now owns 13,125,930 shares of the semiconductor manufacturer's stock valued at $2,264,223,000 after purchasing an additional 11,822,467 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the stock. TD Cowen upgraded shares of Broadcom to a "strong-buy" rating in a report on Monday, September 16th. Truist Financial lifted their target price on Broadcom from $204.00 to $205.00 and gave the company a "buy" rating in a research report on Tuesday, October 8th. Benchmark reiterated a "buy" rating and set a $210.00 price target on shares of Broadcom in a report on Friday, September 6th. JPMorgan Chase & Co. boosted their price objective on shares of Broadcom from $200.00 to $210.00 and gave the company an "overweight" rating in a report on Friday, September 6th. Finally, Morgan Stanley upped their target price on shares of Broadcom from $176.00 to $180.00 and gave the company an "overweight" rating in a research report on Friday, September 6th. Two analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Broadcom currently has an average rating of "Moderate Buy" and an average price target of $195.96.
Get Our Latest Research Report on Broadcom
Broadcom Trading Down 0.0 %
NASDAQ:AVGO opened at $164.74 on Wednesday. The stock has a fifty day moving average price of $173.76 and a 200 day moving average price of $161.09. 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 Inc. has a 12-month low of $90.31 and a 12-month high of $186.42. The firm has a market cap of $769.43 billion, a PE ratio of 143.13, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17.
Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating 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 business had revenue of $13.07 billion during the quarter, compared to analysts' expectations of $12.98 billion. The business's quarterly revenue was up 47.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.95 EPS. Sell-side analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.
Broadcom Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a $0.53 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This is an increase from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.29%. Broadcom's dividend payout ratio is currently 184.19%.
Insider Transactions at Broadcom
In other news, insider Charlie B. Kawwas sold 25,200 shares of the business's stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the sale, the insider now owns 753,280 shares in the company, valued at approximately $126,754,425.60. The trade was a 3.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gayla J. Delly sold 750 shares of the 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 transaction, the director now directly owns 34,750 shares in the company, valued at $6,064,917.50. This trade represents a 2.11 % decrease in their ownership of the stock. 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 corporate insiders.
About Broadcom
(
Free Report)
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.
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