Broadcom Inc. (NASDAQ:AVGO) is Plato Investment Management Ltd's 8th Largest Position

Plato Investment Management Ltd raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 881.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 110,703 shares of the semiconductor manufacturer's stock after buying an additional 99,423 shares during the period. Broadcom makes up 1.5% of Plato Investment Management Ltd's portfolio, making the stock its 8th biggest position. Plato Investment Management Ltd's holdings in Broadcom were worth $19,077,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Cable Hill Partners LLC grew its holdings in shares of Broadcom by 786.4% during the 3rd quarter. Cable Hill Partners LLC now owns 17,507 shares of the semiconductor manufacturer's stock valued at $3,020,000 after acquiring an additional 15,532 shares in the last quarter. Bell Bank raised its position in shares of Broadcom by 1,060.1% in the third quarter. Bell Bank now owns 12,634 shares of the semiconductor manufacturer's stock valued at $2,179,000 after purchasing an additional 11,545 shares during the period. Pier 88 Investment Partners LLC lifted its position in Broadcom by 47.5% during the 3rd quarter. Pier 88 Investment Partners LLC now owns 1,800 shares of the semiconductor manufacturer's stock worth $310,000 after acquiring an additional 580 shares during the last quarter. Mizuho Securities Co. Ltd. increased its position in Broadcom by 557.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 7,950 shares of the semiconductor manufacturer's stock worth $1,371,000 after buying an additional 6,740 shares during the period. Finally, Main Street Financial Solutions LLC raised its stake in Broadcom by 522.9% during the 3rd quarter. Main Street Financial Solutions LLC now owns 10,764 shares of the semiconductor manufacturer's stock valued at $1,857,000 after purchasing an additional 9,036 shares during the last quarter. Institutional investors own 76.43% of the company's stock.

Insider Buying and Selling

In other news, insider Mark David Brazeal sold 18,900 shares of the firm's stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the completion of the transaction, the insider now owns 380,560 shares in the company, valued at $69,596,812.80. This trade represents a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of Broadcom 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 sale, 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 3.62 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is owned by company insiders.

Broadcom Stock Down 3.3 %

AVGO traded down $5.54 during midday trading on Friday, reaching $164.84. The company's stock had a trading volume of 20,836,160 shares, compared to its average volume of 17,858,028. Broadcom Inc. has a 1 year low of $90.31 and a 1 year high of $186.42. The stock's 50-day moving average is $172.84 and its 200-day moving average is $159.35. The firm has a market capitalization of $769.90 billion, a price-to-earnings ratio of 143.21, a PEG ratio of 1.94 and a beta of 1.17. 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 released its quarterly earnings data 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 for 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%. Broadcom's revenue was up 47.3% compared to the same quarter last year. During the same period last year, the firm posted $0.95 earnings per share. As a group, research analysts expect that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.29%. This is a positive change from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. Broadcom's dividend payout ratio is 184.19%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on AVGO shares. Cantor Fitzgerald lifted their price objective on Broadcom from $200.00 to $225.00 and gave the company an "overweight" rating in a report on Tuesday, October 8th. Mizuho boosted their price target on shares of Broadcom from $190.00 to $220.00 and gave the company an "outperform" rating in a research report on Monday, October 14th. Morgan Stanley raised their price objective on shares of Broadcom from $176.00 to $180.00 and gave the stock an "overweight" rating in a report on Friday, September 6th. UBS Group boosted their target price on Broadcom from $170.00 to $200.00 and gave the stock a "buy" rating in a report on Monday, November 4th. Finally, Truist Financial raised their price target on Broadcom from $204.00 to $205.00 and gave the company a "buy" rating in a report on Tuesday, October 8th. 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 stock. Based on data from MarketBeat.com, Broadcom presently has an average rating of "Moderate Buy" and an average price target of $192.79.

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.