Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Generate Investment Management Ltd

Generate Investment Management Ltd lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 1,549.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 189,725 shares of the semiconductor manufacturer’s stock after acquiring an additional 178,220 shares during the quarter. Broadcom makes up approximately 2.2% of Generate Investment Management Ltd’s portfolio, making the stock its 10th biggest position. Generate Investment Management Ltd’s holdings in Broadcom were worth $32,728,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of AVGO. Northwest Investment Counselors LLC acquired a new position in shares of Broadcom in the first quarter valued at approximately $178,000. Strategic Planning Group LLC grew its holdings in Broadcom by 4.3% during the 1st quarter. Strategic Planning Group LLC now owns 2,348 shares of the semiconductor manufacturer’s stock worth $3,112,000 after acquiring an additional 97 shares during the last quarter. Capital Advisors Wealth Management LLC raised its stake in shares of Broadcom by 9.9% during the first quarter. Capital Advisors Wealth Management LLC now owns 1,522 shares of the semiconductor manufacturer’s stock valued at $2,018,000 after acquiring an additional 137 shares during the last quarter. Wealth Management Partners LLC raised its stake in shares of Broadcom by 98.0% during the first quarter. Wealth Management Partners LLC now owns 489 shares of the semiconductor manufacturer’s stock valued at $648,000 after acquiring an additional 242 shares during the last quarter. Finally, Keystone Wealth Services LLC acquired a new position in shares of Broadcom during the first quarter worth $211,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the sale, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Hock E. Tan sold 150,000 shares of Broadcom stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total value of $25,941,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,181,910 shares of the company’s stock, valued at approximately $204,399,515.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on AVGO shares. Bank of America reaffirmed a “buy” rating and set a $215.00 target price (up from $200.00) on shares of Broadcom in a research report on Monday, June 24th. Oppenheimer reduced their price objective on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 16th. The Goldman Sachs Group increased their price target on Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Benchmark reaffirmed a “buy” rating and set a $210.00 target price on shares of Broadcom in a research note on Friday, September 6th. Finally, Morgan Stanley increased their price target on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Two equities 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $191.54.

Broadcom Stock Down 0.9 %

Broadcom stock opened at $179.89 on Monday. Broadcom Inc. has a fifty-two week low of $81.83 and a fifty-two week high of $186.42. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The firm’s 50-day simple moving average is $166.52 and its 200 day simple moving average is $153.25. The stock has a market cap of $837.37 billion, a PE ratio of 7.74, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 30.12% and a net margin of 10.88%. The company’s revenue was up 47.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.95 EPS. Research analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal 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 paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.18%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. Broadcom’s payout ratio is presently 9.12%.

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.