Hardman Johnston Global Advisors LLC Increases Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Hardman Johnston Global Advisors LLC boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 400.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,200 shares of the semiconductor manufacturer’s stock after acquiring an additional 960 shares during the quarter. Hardman Johnston Global Advisors LLC’s holdings in Broadcom were worth $207,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. WealthPLAN Partners LLC boosted its position in shares of Broadcom by 122.6% during the first quarter. WealthPLAN Partners LLC now owns 1,202 shares of the semiconductor manufacturer’s stock valued at $1,593,000 after buying an additional 662 shares during the last quarter. Foyston Gordon & Payne Inc lifted its stake in Broadcom by 55.9% during the 1st quarter. Foyston Gordon & Payne Inc now owns 11,230 shares of the semiconductor manufacturer’s stock valued at $14,884,000 after acquiring an additional 4,026 shares during the period. TCI Wealth Advisors Inc. boosted its holdings in shares of Broadcom by 3.1% during the 1st quarter. TCI Wealth Advisors Inc. now owns 503 shares of the semiconductor manufacturer’s stock valued at $666,000 after acquiring an additional 15 shares during the last quarter. Montag A & Associates Inc. grew its stake in shares of Broadcom by 9.2% in the first quarter. Montag A & Associates Inc. now owns 6,978 shares of the semiconductor manufacturer’s stock worth $9,249,000 after acquiring an additional 589 shares during the period. Finally, Nixon Peabody Trust Co. raised its holdings in shares of Broadcom by 12.5% during the first quarter. Nixon Peabody Trust Co. now owns 12,185 shares of the semiconductor manufacturer’s stock valued at $16,150,000 after purchasing an additional 1,353 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Broadcom

In other news, insider Charlie B. Kawwas sold 25,200 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the sale, the insider now directly owns 753,280 shares of the company’s stock, valued at approximately $126,754,425.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Broadcom news, Director Gayla J. Delly sold 750 shares of the company’s stock in a transaction on 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 represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 25,200 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 753,280 shares of the company’s stock, valued at approximately $126,754,425.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is currently owned by company insiders.

Broadcom Trading Down 0.1 %

Shares of AVGO opened at $183.64 on Friday. The stock has a market capitalization of $857.71 billion, a PE ratio of 159.55, a P/E/G ratio of 1.99 and a beta of 1.17. The company’s fifty day moving average is $170.75 and its 200 day moving average is $157.78. 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 Inc. has a fifty-two week low of $90.31 and a fifty-two week high of $186.42.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share 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 for the quarter, compared to analysts’ expectations of $12.98 billion. During the same period in the previous year, the firm posted $0.95 earnings per share. The firm’s revenue for the quarter was up 47.3% on a year-over-year basis. Sell-side analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is 184.19%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Mizuho raised their target price on shares of Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Truist Financial lifted their price objective on Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. increased their target price on Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Morgan Stanley boosted their price target on Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Finally, Rosenblatt Securities lowered their price objective on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $192.79.

About Broadcom

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.