National Pension Service Buys 7,550,878 Shares of Broadcom Inc. (NASDAQ:AVGO)

National Pension Service increased its stake in Broadcom Inc. (NASDAQ:AVGO) by 1,045.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,273,157 shares of the semiconductor manufacturer’s stock after purchasing an additional 7,550,878 shares during the period. Broadcom makes up 1.4% of National Pension Service’s holdings, making the stock its 10th largest position. National Pension Service owned approximately 0.18% of Broadcom worth $1,427,120,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in AVGO. Lutz Financial Services LLC lifted its stake in Broadcom by 867.1% in the 3rd quarter. Lutz Financial Services LLC now owns 1,354 shares of the semiconductor manufacturer’s stock valued at $234,000 after acquiring an additional 1,214 shares in the last quarter. Silicon Valley Capital Partners raised its holdings in shares of Broadcom by 7,987.0% in the third quarter. Silicon Valley Capital Partners now owns 62,351 shares of the semiconductor manufacturer’s stock valued at $10,755,000 after purchasing an additional 61,580 shares during the last quarter. Cohen Capital Management Inc. lifted its position in shares of Broadcom by 1,860.3% in the third quarter. Cohen Capital Management Inc. now owns 2,470 shares of the semiconductor manufacturer’s stock worth $426,000 after purchasing an additional 2,344 shares in the last quarter. WFA Asset Management Corp boosted its holdings in Broadcom by 900.0% during the third quarter. WFA Asset Management Corp now owns 2,120 shares of the semiconductor manufacturer’s stock worth $366,000 after purchasing an additional 1,908 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. grew its position in Broadcom by 984.8% in the third quarter. Wetzel Investment Advisors Inc. now owns 4,057 shares of the semiconductor manufacturer’s stock valued at $700,000 after purchasing an additional 3,683 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AVGO. TD Cowen upgraded shares of Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. William Blair assumed coverage on Broadcom in a research report on Wednesday, September 18th. They set an “outperform” rating for the company. The Goldman Sachs Group boosted their price target on Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. StockNews.com cut shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Benchmark reaffirmed a “buy” rating and set a $210.00 price target on shares of Broadcom in a research report on Friday, September 6th. Two 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, Broadcom has a consensus rating of “Moderate Buy” and a consensus price target of $192.79.

Insider Buying and Selling

In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of Broadcom stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total value of $4,240,404.00. Following the completion of the transaction, the insider now directly owns 753,280 shares of the company’s stock, valued at $126,754,425.60. The trade was 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. In other news, insider Charlie B. Kawwas sold 15,950 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $181.44, for a total value of $2,893,968.00. Following the completion of the transaction, the insider now directly owns 737,330 shares in the company, valued at approximately $133,781,155.20. The trade was 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 Broadcom stock in a transaction that occurred 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 transaction, the insider now directly owns 753,280 shares in the company, valued at $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. Insiders have sold 311,080 shares of company stock valued at $53,540,590 over the last 90 days. 2.00% of the stock is owned by corporate insiders.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $179.55 on Thursday. Broadcom Inc. has a one year low of $87.62 and a one year high of $186.42. 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 cap of $838.60 billion, a price-to-earnings ratio of 156.13, a P/E/G ratio of 1.99 and a beta of 1.17. The stock’s fifty day moving average price is $169.80 and its two-hundred day moving average price is $156.94.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The business had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. Broadcom’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same period last year, the firm earned $0.95 earnings per share. On average, equities analysts forecast that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were paid a $0.53 dividend. 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 1.18%. The ex-dividend date was Thursday, September 19th. Broadcom’s payout ratio is 184.35%.

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.