Impax Asset Management Group plc Boosts Stake in Broadcom Inc. (NASDAQ:AVGO)

Impax Asset Management Group plc grew its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 884.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 119,529 shares of the semiconductor manufacturer's stock after buying an additional 107,389 shares during the period. Impax Asset Management Group plc's holdings in Broadcom were worth $20,619,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Swedbank AB lifted its position in shares of Broadcom by 858.7% during 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 during the last quarter. Van ECK Associates Corp increased its position in 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 period. Raymond James & Associates increased its position in 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 buying an additional 11,347,563 shares during the period. National Pension Service lifted its holdings in shares of Broadcom by 1,045.4% during the third 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. Finally, International Assets Investment Management LLC boosted its position in shares of Broadcom by 226,130.5% in 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 period. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Buying and Selling at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the firm's stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the transaction, the chief executive officer now owns 1,331,910 shares of the company's stock, valued at approximately $217,594,136.70. This trade represents a 3.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 25,200 shares of the stock in a transaction 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 sale, the insider now directly owns 753,280 shares in the company, valued at $126,754,425.60. This trade represents a 3.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock valued at $53,540,590 in the last 90 days. Insiders own 2.00% of the company's stock.

Broadcom Trading Up 0.5 %

Shares of Broadcom stock traded up $0.83 during midday trading on Monday, reaching $165.67. 17,805,990 shares of the company's stock traded hands, compared to its average volume of 29,473,482. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The stock has a 50 day moving average of $172.84 and a 200-day moving average of $159.35. The company has a market cap of $773.77 billion, a PE ratio of 143.13, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17. Broadcom Inc. has a 12 month low of $90.31 and a 12 month high of $186.42.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results 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. The firm had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business's revenue was up 47.3% on a year-over-year basis. During the same period last year, the business earned $0.95 earnings per share. As a group, equities analysts expect that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 annualized dividend and a yield of 1.28%. This is an increase from Broadcom's previous quarterly dividend of $0.53. Broadcom's payout ratio is currently 184.19%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Benchmark reissued a "buy" rating and set a $210.00 target price on shares of Broadcom in a research report on Friday, September 6th. Morgan Stanley upped their target price on Broadcom from $176.00 to $180.00 and gave the company an "overweight" rating in a research note on Friday, September 6th. UBS Group lifted their price target 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 report on Tuesday, July 23rd. Finally, TD Cowen raised shares of Broadcom to a "strong-buy" rating in a research note on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Broadcom has an average rating of "Moderate Buy" and an average target price of $192.79.

Broadcom Company 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.