Strategy Asset Managers LLC Has $23 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Strategy Asset Managers LLC boosted its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 702.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 133,336 shares of the semiconductor manufacturer's stock after buying an additional 116,717 shares during the period. Broadcom makes up about 4.4% of Strategy Asset Managers LLC's holdings, making the stock its biggest position. Strategy Asset Managers LLC's holdings in Broadcom were worth $23,000,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Gamco Investors INC. ET AL grew its position in shares of Broadcom by 80.5% in the first quarter. Gamco Investors INC. ET AL now owns 897 shares of the semiconductor manufacturer's stock valued at $1,189,000 after purchasing an additional 400 shares during the period. Bamco Inc. NY increased its stake in shares of Broadcom by 13,754.9% during the 1st quarter. Bamco Inc. NY now owns 23,969 shares of the semiconductor manufacturer's stock valued at $31,769,000 after acquiring an additional 23,796 shares during the last quarter. Mount Yale Investment Advisors LLC lifted its holdings in shares of Broadcom by 1.8% during the 1st quarter. Mount Yale Investment Advisors LLC now owns 2,372 shares of the semiconductor manufacturer's stock worth $3,144,000 after acquiring an additional 42 shares during the period. Earnest Partners LLC grew its holdings in Broadcom by 11.8% in the first quarter. Earnest Partners LLC now owns 208 shares of the semiconductor manufacturer's stock valued at $276,000 after purchasing an additional 22 shares during the period. Finally, Caxton Associates LP increased its position in Broadcom by 5,434.5% during the first quarter. Caxton Associates LP now owns 47,486 shares of the semiconductor manufacturer's stock worth $62,938,000 after purchasing an additional 46,628 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AVGO. Morgan Stanley lifted their price objective on Broadcom from $176.00 to $180.00 and gave the company an "overweight" rating in a research note on Friday, September 6th. UBS Group lifted 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. William Blair began coverage on shares of Broadcom in a research report on Wednesday, September 18th. They issued an "outperform" rating for the company. The Goldman Sachs Group lifted their target price on shares of Broadcom from $185.00 to $190.00 and gave the company a "buy" rating in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. upped their price target 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. Two investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $192.79.

Broadcom Stock Up 0.2 %

Shares of AVGO stock traded up $0.29 during trading hours on Friday, hitting $164.23. 17,332,473 shares of the company were exchanged, compared to its average volume of 18,615,522. The stock has a market capitalization of $767.05 billion, a price-to-earnings ratio of 142.81, a P/E/G ratio of 1.93 and a beta of 1.17. Broadcom Inc. has a one year low of $90.31 and a one year high of $186.42. The business's 50-day simple moving average is $173.70 and its two-hundred day simple moving average is $160.62. 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 issued its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping 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 company had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same quarter last year, the firm earned $0.95 EPS. The business's revenue was up 47.3% on a year-over-year basis. Sell-side analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were given a $0.53 dividend. This is an increase from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date was Thursday, September 19th. Broadcom's dividend payout ratio (DPR) is presently 184.35%.

Insider Activity

In related news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 1,331,910 shares of the company's stock, valued at $217,594,136.70. This trade represents a 3.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charlie B. Kawwas sold 15,950 shares of the business's stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the transaction, the insider now directly owns 737,330 shares of the company's stock, valued at $133,781,155.20. The trade was a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 311,080 shares of company stock valued at $53,540,590. Company insiders own 2.00% of the company's stock.

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.