Broadcom Inc. (NASDAQ:AVGO) is Harbour Investment Management LLC's 10th Largest Position

Harbour Investment Management LLC increased its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 871.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,840 shares of the semiconductor manufacturer's stock after buying an additional 25,871 shares during the period. Broadcom accounts for about 2.2% of Harbour Investment Management LLC's investment portfolio, making the stock its 10th biggest position. Harbour Investment Management LLC's holdings in Broadcom were worth $4,975,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in AVGO. Swedbank AB boosted its position in Broadcom by 858.7% during the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer's stock valued at $3,168,798,000 after purchasing an additional 16,453,718 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Broadcom by 917.8% in the 3rd quarter. Van ECK Associates Corp now owns 12,701,500 shares of the semiconductor manufacturer's stock worth $2,203,837,000 after buying an additional 11,453,554 shares during the last quarter. Raymond James & Associates raised its stake in shares of Broadcom by 855.4% during the 3rd quarter. Raymond James & Associates now owns 12,674,158 shares of the semiconductor manufacturer's stock worth $2,186,292,000 after acquiring an additional 11,347,563 shares in the last quarter. International Assets Investment Management LLC lifted its position in Broadcom by 226,130.5% during the third quarter. International Assets Investment Management LLC now owns 8,246,100 shares of the semiconductor manufacturer's stock valued at $14,224,520,000 after acquiring an additional 8,242,455 shares during the last quarter. Finally, Pathway Financial Advisers LLC boosted its stake in Broadcom by 156,028.8% in the third quarter. Pathway Financial Advisers LLC now owns 7,284,970 shares of the semiconductor manufacturer's stock valued at $1,256,657,000 after acquiring an additional 7,280,304 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the business's stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the transaction, the chief executive officer now owns 1,331,910 shares of the company's stock, valued at approximately $217,594,136.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Broadcom 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 transaction of $3,591,588.00. Following the completion of the sale, the insider now directly owns 399,460 shares of the company's stock, valued at approximately $70,744,366. The trade was a 0.00 % decrease in their position. The sale 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 shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,331,910 shares of the company's stock, valued at $217,594,136.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 311,080 shares of company stock worth $53,540,590 in the last quarter. Corporate insiders own 2.00% of the company's stock.

Broadcom Stock Performance

AVGO traded up $3.92 on Thursday, hitting $183.47. The company had a trading volume of 10,944,194 shares, compared to its average volume of 29,821,322. Broadcom Inc. has a 1-year low of $89.90 and a 1-year high of $186.42. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The company's fifty day moving average price is $169.80 and its 200 day moving average price is $156.94. The stock has a market cap of $856.91 billion, a price-to-earnings ratio of 160.48, a price-to-earnings-growth ratio of 1.99 and a beta of 1.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. The company 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%. The company's revenue for the quarter was up 47.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.95 EPS. Equities analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were paid a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This is a boost from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.16%. Broadcom's dividend payout ratio (DPR) is currently 184.35%.

Analysts Set New Price Targets

Several analysts have recently commented on AVGO shares. JPMorgan Chase & Co. increased their price objective on Broadcom from $200.00 to $210.00 and gave the company an "overweight" rating in a report on Friday, September 6th. Truist Financial upped their target price on Broadcom from $204.00 to $205.00 and gave the stock a "buy" rating in a research note on Tuesday, October 8th. Cantor Fitzgerald upped their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 8th. Morgan Stanley raised their price target on shares of 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 raised shares of Broadcom to a "strong-buy" rating in a research note on Monday, September 16th. Two analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $192.79.

Broadcom 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.