Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Parker Investment Management LLC

Parker Investment Management LLC raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 900.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,550 shares of the semiconductor manufacturer's stock after acquiring an additional 22,995 shares during the period. Broadcom makes up 0.7% of Parker Investment Management LLC's holdings, making the stock its 13th biggest holding. Parker Investment Management LLC's holdings in Broadcom were worth $4,407,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in AVGO. AXA S.A. lifted its stake in Broadcom by 2.7% in the second quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer's stock worth $467,334,000 after acquiring an additional 7,608 shares during the last quarter. Catalyst Financial Partners LLC lifted its stake in Broadcom by 943.3% in the third quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer's stock worth $3,473,000 after acquiring an additional 18,206 shares during the last quarter. Whittier Trust Co. lifted its stake in Broadcom by 947.2% in the third quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer's stock worth $119,000,000 after acquiring an additional 623,983 shares during the last quarter. Summit Place Financial Advisors LLC lifted its stake in Broadcom by 912.6% in the third quarter. Summit Place Financial Advisors LLC now owns 9,802 shares of the semiconductor manufacturer's stock worth $1,691,000 after acquiring an additional 8,834 shares during the last quarter. Finally, Signaturefd LLC lifted its position in shares of Broadcom by 913.0% during the 3rd quarter. Signaturefd LLC now owns 78,977 shares of the semiconductor manufacturer's stock worth $13,624,000 after buying an additional 71,181 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Transactions at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 20,280 shares of the company's stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $177.10, for a total value of $3,591,588.00. Following the completion of the transaction, the insider now owns 399,460 shares in the company, valued at $70,744,366. This represents a 4.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of the company's stock in a transaction that occurred on 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 completion of 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 represents a 3.62 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, 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

AVGO has been the subject of several recent analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Broadcom from $200.00 to $210.00 and gave the stock an "overweight" rating in a research report on Friday, September 6th. Mizuho boosted their price objective on shares of Broadcom from $190.00 to $220.00 and gave the stock an "outperform" rating in a research report on Monday, October 14th. Benchmark reiterated a "buy" rating and issued a $210.00 price target on shares of Broadcom in a research report on Friday, September 6th. UBS Group upped their price target on shares of Broadcom from $170.00 to $200.00 and gave the company a "buy" rating in a research report on Monday, November 4th. Finally, Cantor Fitzgerald upped their price target 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. Two research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $195.96.

Broadcom Price Performance

AVGO stock traded up $2.41 during trading on Wednesday, hitting $170.56. The stock had a trading volume of 31,095,181 shares, compared to its average volume of 29,033,885. The company's 50 day moving average price is $173.12 and its two-hundred day moving average price is $162.12. Broadcom Inc. has a 1-year low of $90.31 and a 1-year high of $186.42. The stock has a market cap of $796.61 billion, a price-to-earnings ratio of 148.58, a price-to-earnings-growth ratio of 1.96 and a beta of 1.13. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04.

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, beating the consensus estimate of $1.20 by $0.04. The company had revenue of $13.07 billion during the quarter, compared to analysts' expectations 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 quarter in the previous year, the business earned $0.95 EPS. On average, sell-side analysts forecast that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.24%. This is a boost from Broadcom's previous quarterly dividend of $0.53. Broadcom's payout ratio is presently 184.19%.

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.