River Global Investors LLP Makes New $21.73 Million Investment in Broadcom Inc. (NASDAQ:AVGO)

River Global Investors LLP purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 125,997 shares of the semiconductor manufacturer's stock, valued at approximately $21,728,000. Broadcom accounts for 4.7% of River Global Investors LLP's holdings, making the stock its 3rd largest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mitchell Mcleod Pugh & Williams Inc. increased its position in shares of Broadcom by 884.7% in the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 30,516 shares of the semiconductor manufacturer's stock worth $5,264,000 after purchasing an additional 27,417 shares during the last quarter. Maiden Cove Capital LLC bought a new position in Broadcom during the third quarter valued at approximately $58,000. Meritage Portfolio Management grew its position in Broadcom by 808.0% during the third quarter. Meritage Portfolio Management now owns 273,439 shares of the semiconductor manufacturer's stock valued at $47,168,000 after acquiring an additional 243,324 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in Broadcom by 1,286.2% during the third quarter. Crossmark Global Holdings Inc. now owns 456,638 shares of the semiconductor manufacturer's stock valued at $78,770,000 after acquiring an additional 423,696 shares during the last quarter. Finally, Tyler Stone Wealth Management grew its position in Broadcom by 2,706.5% during the third quarter. Tyler Stone Wealth Management now owns 2,161 shares of the semiconductor manufacturer's stock valued at $373,000 after acquiring an additional 2,084 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Gayla J. Delly sold 750 shares of Broadcom stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total value of $130,897.50. Following the completion of the sale, the director now directly owns 34,750 shares in the company, valued at approximately $6,064,917.50. This trade represents a 2.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 completion of the sale, the chief executive officer now owns 1,331,910 shares of the company's stock, valued at $217,594,136.70. The trade was a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock worth $53,540,590 over the last three months. 2.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Morgan Stanley increased their price target on shares of Broadcom from $176.00 to $180.00 and gave the company an "overweight" rating in a research report on Friday, September 6th. StockNews.com cut shares of Broadcom from a "buy" rating to a "hold" rating in a research report on Tuesday, July 23rd. Cantor Fitzgerald increased 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. UBS Group increased 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, The Goldman Sachs Group increased their price objective on Broadcom from $185.00 to $190.00 and gave the company a "buy" rating in a research note 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 given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $192.79.

Broadcom Stock Down 1.8 %

Broadcom stock traded down $3.20 on Thursday, hitting $170.38. 20,618,991 shares of the stock traded hands, compared to its average volume of 29,565,154. 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 firm has a market cap of $795.77 billion, a P/E ratio of 150.74, a price-to-earnings-growth ratio of 2.07 and a beta of 1.17. The business's fifty day simple moving average is $171.93 and its 200 day simple moving average is $158.86. Broadcom Inc. has a 1 year low of $90.31 and a 1 year high of $186.42.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced 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 business had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company's revenue for the quarter was up 47.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.95 earnings per share. As a group, sell-side analysts forecast that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently declared 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 is an increase from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.24%. Broadcom's dividend payout ratio (DPR) is presently 184.19%.

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.