Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Bridgewater Advisors Inc.

Bridgewater Advisors Inc. grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 6.1% during the 3rd quarter, Holdings Channel reports. The firm owned 15,141 shares of the semiconductor manufacturer’s stock after buying an additional 868 shares during the period. Bridgewater Advisors Inc.’s holdings in Broadcom were worth $2,714,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AVGO. Swedbank AB grew its position in shares of Broadcom by 858.7% in the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock valued at $3,168,798,000 after purchasing an additional 16,453,718 shares during the last quarter. Van ECK Associates Corp grew its position in shares of Broadcom by 917.8% in the third quarter. Van ECK Associates Corp now owns 12,701,500 shares of the semiconductor manufacturer’s stock valued at $2,203,837,000 after purchasing an additional 11,453,554 shares during the last quarter. Raymond James & Associates grew its position in shares of Broadcom by 855.4% in the third quarter. Raymond James & Associates now owns 12,674,158 shares of the semiconductor manufacturer’s stock valued at $2,186,292,000 after purchasing an additional 11,347,563 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Broadcom by 226,130.5% in the third quarter. International Assets Investment Management LLC now owns 8,246,100 shares of the semiconductor manufacturer’s stock valued at $14,224,520,000 after purchasing an additional 8,242,455 shares during the last quarter. Finally, National Pension Service lifted its stake in shares of Broadcom by 1,045.4% during the third quarter. National Pension Service now owns 8,273,157 shares of the semiconductor manufacturer’s stock valued at $1,427,120,000 after buying an additional 7,550,878 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Performance

Shares of AVGO stock opened at $183.64 on Friday. The company’s fifty day simple moving average is $170.75 and its 200-day simple moving average is $157.78. Broadcom Inc. has a 52 week low of $90.31 and a 52 week high of $186.42. 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 company has a market cap of $857.71 billion, a PE ratio of 159.55, a P/E/G ratio of 2.11 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last released its quarterly 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 firm had revenue of $13.07 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.95 EPS. As a group, equities research analysts anticipate that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

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

Analysts Set New Price Targets

AVGO has been the topic of several recent analyst reports. UBS Group upped their price objective on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Mizuho upped their price objective on shares of Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Truist Financial upped their price objective on shares of Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Benchmark reissued a “buy” rating and set a $210.00 price objective on shares of Broadcom in a research note on Friday, September 6th. Finally, Cantor Fitzgerald upped their price objective on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Two 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $192.79.

Insider Transactions at Broadcom

In other news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was 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 in the company, valued at approximately $217,594,136.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Broadcom news, insider Mark David Brazeal sold 20,280 shares of the firm’s stock in a transaction on 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 completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the transaction, the chief executive officer now directly owns 1,331,910 shares in the company, valued at $217,594,136.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is currently owned by insiders.

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.