Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Centaurus Financial Inc.

Centaurus Financial Inc. raised its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,073.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 83,178 shares of the semiconductor manufacturer's stock after purchasing an additional 76,092 shares during the quarter. Broadcom accounts for 0.9% of Centaurus Financial Inc.'s portfolio, making the stock its 18th biggest position. Centaurus Financial Inc.'s holdings in Broadcom were worth $14,348,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the stock. Jennison Associates LLC grew its position 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 buying an additional 32,178,542 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in 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 worth $5,519,591,000 after purchasing an additional 28,985,434 shares during the period. Swedbank AB boosted its position in shares of Broadcom by 858.7% in the 3rd 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 in the last quarter. Swiss National Bank raised its stake in Broadcom by 907.0% during 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 buying an additional 11,822,467 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of Broadcom by 917.8% in the third quarter. Van ECK Associates Corp now owns 12,701,500 shares of the semiconductor manufacturer's stock worth $2,203,837,000 after acquiring an additional 11,453,554 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Morgan Stanley increased their price objective 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. William Blair initiated coverage on Broadcom in a research note on Wednesday, September 18th. They set an "outperform" rating on the stock. UBS Group upped their target price on shares of Broadcom from $170.00 to $200.00 and gave the company a "buy" rating in a research note on Monday, November 4th. Mizuho boosted their target price on shares of Broadcom from $190.00 to $220.00 and gave the company an "outperform" rating in a research note on Monday, October 14th. Finally, The Goldman Sachs Group lifted their price objective on Broadcom from $185.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, September 6th. Two research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $195.96.

Insider Activity at Broadcom

In related news, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 1,331,910 shares in the company, valued at $217,594,136.70. The trade was a 3.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 25,200 shares of the company'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 value 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. This represents a 3.24 % decrease in their position. 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 over the last quarter. Company insiders own 2.00% of the company's stock.

Broadcom Stock Performance

NASDAQ AVGO traded down $0.08 on Wednesday, hitting $164.74. 16,308,772 shares of the stock were exchanged, compared to its average volume of 19,165,998. 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 has a market capitalization of $769.43 billion, a PE ratio of 143.13, a P/E/G ratio of 1.94 and a beta of 1.17. The business's fifty day moving average is $173.76 and its 200 day moving average is $161.09. Broadcom Inc. has a 52 week low of $90.31 and a 52 week high of $186.42.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $12.98 billion. During the same period last year, the business earned $0.95 EPS. Broadcom's quarterly revenue was up 47.3% compared to the same quarter last year. Research analysts anticipate that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend was Thursday, September 19th. This is a boost from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio is 184.19%.

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.