Broadcom Inc. (NASDAQ:AVGO) Shares Bought by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. increased its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,238.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 151,370 shares of the semiconductor manufacturer's stock after purchasing an additional 140,061 shares during the quarter. Broadcom makes up 2.9% of China Universal Asset Management Co. Ltd.'s portfolio, making the stock its 6th biggest position. China Universal Asset Management Co. Ltd.'s holdings in Broadcom were worth $26,111,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. FORVIS Wealth Advisors LLC grew its position in shares of Broadcom by 39.4% during the 1st quarter. FORVIS Wealth Advisors LLC now owns 944 shares of the semiconductor manufacturer's stock worth $1,251,000 after buying an additional 267 shares during the period. Hardy Reed LLC bought a new position in shares of Broadcom during the first quarter worth $232,000. Avior Wealth Management LLC grew its holdings in shares of Broadcom by 24.9% in the 1st quarter. Avior Wealth Management LLC now owns 3,074 shares of the semiconductor manufacturer's stock valued at $4,075,000 after buying an additional 612 shares during the period. Prosperity Consulting Group LLC increased its position in shares of Broadcom by 65.7% in the 1st quarter. Prosperity Consulting Group LLC now owns 3,411 shares of the semiconductor manufacturer's stock valued at $4,522,000 after buying an additional 1,353 shares in the last quarter. Finally, Ascent Wealth Partners LLC raised its stake in Broadcom by 0.3% during the 1st quarter. Ascent Wealth Partners LLC now owns 2,964 shares of the semiconductor manufacturer's stock worth $3,929,000 after buying an additional 8 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Charlie B. Kawwas sold 15,950 shares of the business's stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $181.44, for a total value of $2,893,968.00. Following the completion of the transaction, the insider now directly owns 737,330 shares in the company, valued at approximately $133,781,155.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Charlie B. Kawwas sold 15,950 shares of the firm's stock in a transaction dated 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 sale, the insider now directly owns 737,330 shares of the company's stock, valued at $133,781,155.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Hock E. Tan sold 150,000 shares of Broadcom stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total value of $25,941,000.00. Following the completion of the transaction, the chief executive officer now owns 1,181,910 shares in the company, valued at approximately $204,399,515.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AVGO. Truist Financial increased their price target on Broadcom from $204.00 to $205.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. TD Cowen raised shares of Broadcom to a "strong-buy" rating in a research note on Monday, September 16th. UBS Group lowered their price objective on shares of Broadcom from $173.50 to $170.00 and set a "buy" rating for the company in a research report on Monday, September 9th. Cantor Fitzgerald boosted their price objective on shares of Broadcom from $200.00 to $225.00 and gave the company an "overweight" rating in a research report on Tuesday, October 8th. Finally, Rosenblatt Securities lowered their target price on Broadcom from $2,400.00 to $240.00 and set a "buy" rating for the company in a report on Friday, September 6th. Two 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's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $191.54.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $169.77 on Friday. The business's 50 day moving average is $168.89 and its 200-day moving average is $155.80. The firm has a market cap of $792.92 billion, a P/E ratio of 147.50, a price-to-earnings-growth ratio of 2.84 and a beta of 1.17. Broadcom Inc. has a 1-year low of $83.26 and a 1-year 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.

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

Broadcom Increases Dividend

The business 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. The ex-dividend date of this dividend was Thursday, September 19th. This is a boost from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.25%. Broadcom's payout ratio is currently 184.19%.

About Broadcom

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.