AEGON ASSET MANAGEMENT UK Plc Has $294.74 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

AEGON ASSET MANAGEMENT UK Plc boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 786.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,709,055 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,516,316 shares during the quarter. Broadcom makes up about 4.0% of AEGON ASSET MANAGEMENT UK Plc’s investment portfolio, making the stock its 4th largest holding. AEGON ASSET MANAGEMENT UK Plc’s holdings in Broadcom were worth $294,742,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in AVGO. Vanguard Group Inc. grew its stake in Broadcom by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock worth $59,181,244,000 after buying an additional 1,303,462 shares during the last quarter. Swedbank AB boosted its holdings in shares of Broadcom by 858.7% during the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock valued at $3,168,798,000 after acquiring an additional 16,453,718 shares during the period. Van ECK Associates Corp grew its position in shares of Broadcom by 917.8% during the third quarter. Van ECK Associates Corp now owns 12,701,500 shares of the semiconductor manufacturer’s stock worth $2,203,837,000 after acquiring an additional 11,453,554 shares during the last quarter. Raymond James & Associates lifted its position in Broadcom by 855.4% in the 3rd 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. Finally, National Pension Service boosted its stake in Broadcom by 1,045.4% during the 3rd quarter. National Pension Service now owns 8,273,157 shares of the semiconductor manufacturer’s stock valued at $1,427,120,000 after purchasing an additional 7,550,878 shares during the period. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 20,280 shares of the business’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 transaction, the insider now owns 399,460 shares in the company, valued at approximately $70,744,366. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Charlie B. Kawwas sold 15,950 shares of the company’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 owns 737,330 shares in the company, valued at $133,781,155.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 20,280 shares of Broadcom stock in a transaction on Monday, October 7th. The shares were sold at an average price of $177.10, for a total value of $3,591,588.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock worth $53,540,590 over the last ninety days. Company insiders own 2.00% of the company’s stock.

Broadcom Price Performance

NASDAQ AVGO opened at $178.91 on Tuesday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The firm has a market capitalization of $835.61 billion, a price-to-earnings ratio of 155.44, a price-to-earnings-growth ratio of 2.16 and a beta of 1.17. The company has a 50 day simple moving average of $170.75 and a 200-day simple moving average of $157.78. Broadcom Inc. has a 52-week low of $90.31 and a 52-week high of $186.42.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS 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 business 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 company posted $0.95 EPS. Broadcom’s revenue was up 47.3% on a year-over-year basis. Equities research analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were issued a dividend of $0.53 per share. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Thursday, September 19th. Broadcom’s dividend payout ratio is currently 184.19%.

Analysts Set New Price Targets

AVGO has been the subject of several analyst reports. The Goldman Sachs Group boosted their price objective on Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Oppenheimer decreased their price target on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a research note on Tuesday, July 16th. Morgan Stanley lifted their price objective on shares of Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Mizuho increased their target price 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. Finally, TD Cowen upgraded shares of Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. Two research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $192.79.

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.