Value Aligned Research Advisors LLC Acquires 8,192 Shares of Broadcom Inc. (NASDAQ:AVGO)

Value Aligned Research Advisors LLC lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,270.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,837 shares of the semiconductor manufacturer's stock after purchasing an additional 8,192 shares during the period. Broadcom comprises 0.4% of Value Aligned Research Advisors LLC's portfolio, making the stock its 14th largest position. Value Aligned Research Advisors LLC's holdings in Broadcom were worth $1,524,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AVGO. Jennison Associates LLC boosted its position in Broadcom by 842.4% in the 3rd quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer's stock valued at $6,209,758,000 after buying an additional 32,178,542 shares during the last quarter. Swedbank AB lifted its stake in shares of Broadcom by 858.7% in the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer's stock worth $3,168,798,000 after acquiring an additional 16,453,718 shares in the last quarter. Swiss National Bank boosted its holdings in Broadcom by 907.0% in the third 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. Van ECK Associates Corp grew its stake in Broadcom by 917.8% during the 3rd quarter. Van ECK Associates Corp now owns 12,701,500 shares of the semiconductor manufacturer's stock valued at $2,203,837,000 after purchasing an additional 11,453,554 shares in the last quarter. Finally, Raymond James & Associates increased its holdings in 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 purchasing an additional 11,347,563 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AVGO. Mizuho raised their price target on shares of Broadcom from $190.00 to $220.00 and gave the stock an "outperform" rating in a research report on Monday, October 14th. Benchmark reissued a "buy" rating and set a $210.00 price objective on shares of Broadcom in a report on Friday, September 6th. TD Cowen upgraded shares of Broadcom to a "strong-buy" rating in a research note on Monday, September 16th. William Blair initiated coverage on Broadcom in a research note on Wednesday, September 18th. They issued an "outperform" rating for the company. Finally, Rosenblatt Securities decreased their target price on Broadcom from $2,400.00 to $240.00 and set a "buy" rating for the company in a research report on Friday, September 6th. Two investment 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $192.79.

Insider Activity

In other news, CEO Hock E. Tan sold 150,000 shares of the business's stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total value of $25,941,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,181,910 shares in the company, valued at approximately $204,399,515.40. The trade was a 11.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 15,950 shares of the firm's stock in a transaction on Friday, October 11th. The shares were sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the completion of the transaction, the insider now owns 737,330 shares in the company, valued at $133,781,155.20. The trade was a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is owned by corporate insiders.

Broadcom Price Performance

AVGO stock traded up $0.29 during trading on Friday, hitting $164.23. The company had a trading volume of 17,332,473 shares, compared to its average volume of 18,615,522. The business has a 50 day moving average of $173.70 and a 200 day moving average of $160.62. The firm has a market capitalization of $767.05 billion, a price-to-earnings ratio of 142.81, a P/E/G ratio of 1.93 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 Inc. has a fifty-two week low of $90.31 and a fifty-two week high of $186.42.

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

Broadcom Increases Dividend

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

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.