Hixon Zuercher LLC raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 871.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 9,429 shares of the semiconductor manufacturer's stock after purchasing an additional 8,458 shares during the period. Hixon Zuercher LLC's holdings in Broadcom were worth $1,627,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in Broadcom by 3.0% during the first quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer's stock valued at $59,181,244,000 after acquiring an additional 1,303,462 shares during the last quarter. Swedbank AB increased its position in shares of 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 in the last quarter. Van ECK Associates Corp lifted its holdings in shares of 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 during the last quarter. Raymond James & Associates boosted its position in shares of Broadcom by 855.4% in 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 in the last quarter. Finally, National Pension Service grew its stake in Broadcom by 1,045.4% during the 3rd quarter. National Pension Service now owns 8,273,157 shares of the semiconductor manufacturer's stock worth $1,427,120,000 after buying an additional 7,550,878 shares during the last quarter. Institutional investors own 76.43% of the company's stock.
Insiders Place Their Bets
In other news, insider Charlie B. Kawwas sold 25,200 shares of Broadcom stock in a transaction dated 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 sale, the insider now owns 753,280 shares in the company, valued at $126,754,425.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Mark David Brazeal sold 20,280 shares of the firm'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 value of $3,591,588.00. Following the transaction, the insider now owns 399,460 shares in the company, valued at $70,744,366. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Charlie B. Kawwas sold 25,200 shares of the business's stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total value of $4,240,404.00. Following the sale, the insider now owns 753,280 shares of the company's stock, valued at $126,754,425.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 311,080 shares of company stock worth $53,540,590. Company insiders own 2.00% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on AVGO shares. Mizuho raised their price target on Broadcom from $190.00 to $220.00 and gave the stock an "outperform" rating in a report on Monday, October 14th. UBS Group lifted their target price on shares of Broadcom from $170.00 to $200.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. StockNews.com downgraded shares of Broadcom from a "buy" rating to a "hold" rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group lifted their price objective on shares of Broadcom from $185.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, September 6th. Finally, Oppenheimer cut their target price on Broadcom from $2,000.00 to $200.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 16th. Two equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $192.79.
Get Our Latest Analysis on AVGO
Broadcom Price Performance
Shares of Broadcom stock traded down $0.17 during trading hours on Friday, reaching $183.64. The stock had a trading volume of 13,503,154 shares, compared to its average volume of 18,921,780. The stock's 50 day moving average is $170.75 and its 200 day moving average is $157.78. 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 twelve month low of $90.31 and a twelve month high of $186.42. The firm has a market capitalization of $857.71 billion, a PE ratio of 159.55, a PEG ratio of 2.11 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 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 the consensus estimate of $12.98 billion. During the same quarter in the prior year, the business posted $0.95 earnings per share. Broadcom's revenue for the quarter was up 47.3% on a year-over-year basis. Equities analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.
Broadcom Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend was Thursday, September 19th. This is a positive change from Broadcom's previous quarterly dividend of $0.53. Broadcom's payout ratio is presently 184.19%.
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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