Transamerica Financial Advisors Inc. Buys 4,924 Shares of Broadcom Inc. (NASDAQ:AVGO)

Transamerica Financial Advisors Inc. increased its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 317.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,477 shares of the semiconductor manufacturer's stock after buying an additional 4,924 shares during the period. Transamerica Financial Advisors Inc.'s holdings in Broadcom were worth $1,118,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AVGO. FMR LLC increased its stake in shares of Broadcom by 1,121.3% in the 3rd quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer's stock worth $15,594,088,000 after acquiring an additional 82,998,328 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Broadcom by 842.4% during the third quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer's stock valued at $6,209,758,000 after purchasing an additional 32,178,542 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Broadcom by 962.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,997,455 shares of the semiconductor manufacturer's stock valued at $5,519,591,000 after purchasing an additional 28,985,434 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Broadcom by 938.8% during the third quarter. Fisher Asset Management LLC now owns 23,422,781 shares of the semiconductor manufacturer's stock valued at $4,040,430,000 after purchasing an additional 21,168,095 shares during the last quarter. Finally, Swedbank AB grew its stake in shares of Broadcom by 858.7% in the 3rd quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer's stock worth $3,168,798,000 after buying an additional 16,453,718 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Charlie B. Kawwas sold 25,200 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the transaction, the insider now directly owns 753,280 shares in the company, valued at approximately $126,754,425.60. This represents a 3.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of the firm's stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction 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 approximately $217,594,136.70. This trade represents a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is owned by insiders.

Broadcom Stock Performance

AVGO traded down $5.07 during trading on Thursday, hitting $159.67. The company's stock had a trading volume of 19,722,723 shares, compared to its average volume of 29,185,664. 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's 50 day simple moving average is $173.57 and its 200-day simple moving average is $161.49. The firm has a market cap of $745.75 billion, a PE ratio of 138.84, a P/E/G ratio of 1.94 and a beta of 1.17. Broadcom Inc. has a one year low of $90.31 and a one year high of $186.42.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.04. The company had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm's quarterly revenue was up 47.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.95 EPS. As a group, sell-side analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend was Thursday, September 19th. This is an increase from Broadcom's previous quarterly dividend of $0.53. Broadcom's payout ratio is 184.35%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AVGO. Benchmark reiterated a "buy" rating and set a $210.00 price objective on shares of Broadcom in a research note on Friday, September 6th. UBS Group lifted their price target on Broadcom from $170.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. Mizuho increased their price objective 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. The Goldman Sachs Group lifted their target price on shares of Broadcom from $185.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, September 6th. Finally, 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 report on Friday, September 6th. Two analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Broadcom presently has a consensus rating of "Moderate Buy" and an average target price of $195.96.

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.