Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by ING Groep NV

ING Groep NV increased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,024.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,865,578 shares of the semiconductor manufacturer's stock after buying an additional 2,610,835 shares during the quarter. Broadcom comprises about 2.9% of ING Groep NV's portfolio, making the stock its 7th biggest position. ING Groep NV owned approximately 0.06% of Broadcom worth $494,312,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Castleview Partners LLC raised its stake in shares of Broadcom by 1,030.8% in the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock worth $25,000 after purchasing an additional 134 shares during the last quarter. Delta Asset Management LLC TN grew its holdings in Broadcom by 242.9% during the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer's stock valued at $32,000 after purchasing an additional 17 shares during the period. Tsfg LLC grew its holdings in Broadcom by 1,073.7% during the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock valued at $38,000 after purchasing an additional 204 shares during the period. Krane Funds Advisors LLC bought a new position in shares of Broadcom in the third quarter worth $42,000. Finally, Highline Wealth Partners LLC bought a new position in shares of Broadcom in the third quarter worth $45,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Price Performance

AVGO traded up $0.65 on Monday, hitting $165.49. 10,647,095 shares of the company's stock were exchanged, compared to its average volume of 29,441,381. Broadcom Inc. has a fifty-two week low of $90.31 and a fifty-two week high of $186.42. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The firm has a 50-day moving average price of $172.84 and a 200-day moving average price of $159.35. The stock has a market cap of $772.93 billion, a price-to-earnings ratio of 143.13, a P/E/G ratio of 1.94 and a beta of 1.17.

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

Broadcom Increases Dividend

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

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Gayla J. Delly sold 750 shares of the firm's stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total value of $130,897.50. Following the sale, the director now directly owns 34,750 shares of the company's stock, valued at approximately $6,064,917.50. This trade represents a 2.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Benchmark restated a "buy" rating and set a $210.00 target price on shares of Broadcom in a research report on Friday, September 6th. StockNews.com cut shares of Broadcom from a "buy" rating to a "hold" rating in a research report on Tuesday, July 23rd. Cantor Fitzgerald lifted their target price on shares of Broadcom from $200.00 to $225.00 and gave the stock an "overweight" rating in a report on Tuesday, October 8th. TD Cowen upgraded shares of Broadcom to a "strong-buy" rating in a research report on Monday, September 16th. Finally, Rosenblatt Securities lowered their target price on shares of Broadcom from $2,400.00 to $240.00 and set a "buy" rating on the stock in a report on Friday, September 6th. Two 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 company. According to data from MarketBeat, the company presently 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.