Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Cadent Capital Advisors LLC

Cadent Capital Advisors LLC grew its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,799.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,299 shares of the semiconductor manufacturer's stock after purchasing an additional 7,862 shares during the period. Cadent Capital Advisors LLC's holdings in Broadcom were worth $1,432,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of AVGO. Swedbank AB raised its position in Broadcom by 858.7% in the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer's stock valued at $3,168,798,000 after purchasing an additional 16,453,718 shares during the period. Raymond James & Associates raised its holdings in shares of Broadcom by 855.4% during the 3rd quarter. Raymond James & Associates now owns 12,674,158 shares of the semiconductor manufacturer's stock valued at $2,186,292,000 after buying an additional 11,347,563 shares during the period. Handelsbanken Fonder AB lifted its position in Broadcom by 826.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 2,963,813 shares of the semiconductor manufacturer's stock worth $511,258,000 after acquiring an additional 2,643,845 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Broadcom by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer's stock worth $59,181,244,000 after acquiring an additional 1,303,462 shares during the period. Finally, Jennison Associates LLC grew its position in Broadcom by 43.9% in the first quarter. Jennison Associates LLC now owns 4,141,025 shares of the semiconductor manufacturer's stock valued at $5,488,556,000 after acquiring an additional 1,263,957 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Buying and Selling

In related news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at $217,594,136.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Charlie B. Kawwas sold 15,950 shares of the company's stock in a transaction on Friday, October 11th. The stock was sold at an average price of $181.44, for a total value of $2,893,968.00. Following the completion of the sale, the insider now owns 737,330 shares in the company, valued at $133,781,155.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, 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 transaction, the chief executive officer now directly owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. The trade was a 0.00 % decrease in their ownership of the stock. 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 three months. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Down 0.9 %

NASDAQ:AVGO opened at $178.25 on Monday. 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 stock has a 50 day moving average of $166.52 and a 200-day moving average of $153.25. The firm has a market capitalization of $829.73 billion, a PE ratio of 7.74, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17. Broadcom Inc. has a 52 week low of $81.83 and a 52 week high of $186.42.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping analysts' consensus estimates of $1.20 by $0.04. The firm had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm's revenue was up 47.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.95 EPS. Analysts predict that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, September 19th. This is an increase from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.19%. Broadcom's payout ratio is currently 9.12%.

Analyst Ratings Changes

Several brokerages have recently weighed in on AVGO. Mizuho upped 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. Cantor Fitzgerald boosted their price objective on shares of Broadcom from $200.00 to $225.00 and gave the stock an "overweight" rating in a report on Tuesday, October 8th. William Blair initiated coverage on Broadcom in a research note on Wednesday, September 18th. They set an "outperform" rating for the company. Morgan Stanley boosted their price target on Broadcom from $176.00 to $180.00 and gave the stock an "overweight" rating in a research note on Friday, September 6th. Finally, Oppenheimer lowered their price objective on Broadcom from $2,000.00 to $200.00 and set an "outperform" rating for the company in a research note on Tuesday, July 16th. Two investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $191.54.

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.