Broadcom Inc. (NASDAQ:AVGO) Position Raised by Jackson Square Capital LLC

Jackson Square Capital LLC raised its position in Broadcom Inc. (NASDAQ:AVGO) by 916.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 102,075 shares of the semiconductor manufacturer’s stock after purchasing an additional 92,034 shares during the period. Broadcom accounts for 4.4% of Jackson Square Capital LLC’s investment portfolio, making the stock its 5th largest holding. Jackson Square Capital LLC’s holdings in Broadcom were worth $17,608,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of AVGO. WNY Asset Management LLC boosted its holdings in shares of Broadcom by 5.4% in the 1st quarter. WNY Asset Management LLC now owns 315 shares of the semiconductor manufacturer’s stock valued at $417,000 after buying an additional 16 shares in the last quarter. Choate Investment Advisors boosted its holdings in shares of Broadcom by 1.6% in the 1st quarter. Choate Investment Advisors now owns 2,360 shares of the semiconductor manufacturer’s stock valued at $3,128,000 after buying an additional 37 shares in the last quarter. NorthRock Partners LLC boosted its holdings in shares of Broadcom by 24.5% in the 1st quarter. NorthRock Partners LLC now owns 3,150 shares of the semiconductor manufacturer’s stock valued at $4,175,000 after buying an additional 620 shares in the last quarter. Meeder Asset Management Inc. boosted its holdings in shares of Broadcom by 36.3% in the 1st quarter. Meeder Asset Management Inc. now owns 23,003 shares of the semiconductor manufacturer’s stock valued at $30,488,000 after buying an additional 6,132 shares in the last quarter. Finally, Meeder Advisory Services Inc. boosted its holdings in shares of Broadcom by 5.0% in the 1st quarter. Meeder Advisory Services Inc. now owns 6,376 shares of the semiconductor manufacturer’s stock valued at $8,451,000 after buying an additional 305 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Broadcom news, insider Mark David Brazeal sold 20,280 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the sale, the insider now directly owns 399,460 shares of the company’s stock, valued at $70,744,366. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Broadcom news, insider Mark David Brazeal sold 20,280 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the sale, the insider now directly owns 399,460 shares of the company’s stock, valued at $70,744,366. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charlie B. Kawwas sold 25,200 shares of the firm’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 sale, the insider now directly owns 753,280 shares in the company, valued at $126,754,425.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock valued at $53,540,590 in the last ninety days. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on AVGO shares. StockNews.com cut shares of Broadcom from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. increased their price target on shares of Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. William Blair initiated coverage on shares of Broadcom in a research report on Wednesday, September 18th. They set an “outperform” rating for the company. Morgan Stanley upped their price objective on shares of Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Finally, Benchmark restated a “buy” rating and set a $210.00 price objective on shares of Broadcom in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $192.79.

Broadcom Stock Performance

NASDAQ:AVGO opened at $183.64 on Friday. 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 50-day moving average price of $170.75 and a two-hundred day moving average price of $157.78. Broadcom Inc. has a twelve month low of $90.31 and a twelve month high of $186.42. The company has a market capitalization of $857.71 billion, a P/E ratio of 159.55, a price-to-earnings-growth ratio of 2.11 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same period last year, the firm posted $0.95 EPS. The firm’s revenue for the quarter was up 47.3% on a year-over-year basis. As a group, research analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were paid a dividend of $0.53 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.15%. The ex-dividend date was Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is currently 184.19%.

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.