China Universal Asset Management Co. Ltd. Acquires 140,061 Shares of Broadcom Inc. (NASDAQ:AVGO)

China Universal Asset Management Co. Ltd. raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,238.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 151,370 shares of the semiconductor manufacturer's stock after acquiring an additional 140,061 shares during the period. Broadcom comprises approximately 2.9% of China Universal Asset Management Co. Ltd.'s investment portfolio, making the stock its 6th largest holding. China Universal Asset Management Co. Ltd.'s holdings in Broadcom were worth $26,111,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Lion Street Advisors LLC lifted its stake in Broadcom by 1.9% during the 2nd quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer's stock valued at $520,000 after acquiring an additional 6 shares during the period. Ascent Wealth Partners LLC increased its holdings in Broadcom by 0.3% in the 1st quarter. Ascent Wealth Partners LLC now owns 2,964 shares of the semiconductor manufacturer's stock worth $3,929,000 after acquiring an additional 8 shares in the last quarter. O Dell Group LLC boosted its holdings in Broadcom by 2.3% in the 1st quarter. O Dell Group LLC now owns 356 shares of the semiconductor manufacturer's stock worth $472,000 after buying an additional 8 shares during the period. Hudson Value Partners LLC boosted its stake in Broadcom by 2.7% in the 1st quarter. Hudson Value Partners LLC now owns 308 shares of the semiconductor manufacturer's stock worth $408,000 after purchasing an additional 8 shares during the period. Finally, Renasant Bank grew its position in shares of Broadcom by 1.0% during the first quarter. Renasant Bank now owns 785 shares of the semiconductor manufacturer's stock valued at $1,040,000 after purchasing an additional 8 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Hock E. Tan sold 150,000 shares of the business's stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,181,910 shares in the company, valued at $204,399,515.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Hock E. Tan sold 150,000 shares of Broadcom stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,181,910 shares in the company, valued at approximately $204,399,515.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the business's stock in a transaction that occurred on 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 directly owns 1,331,910 shares of the company's stock, valued at $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 have sold 311,080 shares of company stock valued at $53,540,590 in the last ninety days. Insiders own 2.00% of the company's stock.

Broadcom Stock Performance

Shares of AVGO traded down $0.85 during trading hours on Friday, reaching $168.92. 17,828,485 shares of the company traded hands, compared to its average volume of 30,089,531. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The business has a fifty day moving average price of $168.94 and a 200-day moving average price of $156.03. Broadcom Inc. has a 12-month low of $86.00 and a 12-month high of $186.42. The stock has a market capitalization of $788.95 billion, a P/E ratio of 146.76, a P/E/G ratio of 2.84 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 earnings per share for the quarter, beating 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 the consensus estimate of $12.98 billion. During the same quarter in the previous year, the business earned $0.95 EPS. The company's quarterly revenue was up 47.3% compared to the same quarter last year. Equities analysts anticipate that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.26%. This is a boost from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom's payout ratio is presently 184.19%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AVGO. Mizuho boosted their price objective on Broadcom from $190.00 to $220.00 and gave the stock an "outperform" rating in a research note on Monday, October 14th. Benchmark reaffirmed a "buy" rating and issued a $210.00 price objective on shares of Broadcom in a research report on Friday, September 6th. Cantor Fitzgerald lifted their target price on Broadcom from $200.00 to $225.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 8th. Oppenheimer cut their price target on shares of Broadcom from $2,000.00 to $200.00 and set an "outperform" rating on the stock in a report on Tuesday, July 16th. Finally, TD Cowen upgraded shares of Broadcom to a "strong-buy" rating in a report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $191.54.

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.