Broadcom Inc. (NASDAQ:AVGO) Stock Position Increased by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd raised its position in Broadcom Inc. (NASDAQ:AVGO) by 863.5% in the third quarter, Holdings Channel reports. The institutional investor owned 348,281 shares of the semiconductor manufacturer’s stock after purchasing an additional 312,134 shares during the period. Broadcom accounts for about 1.5% of Gulf International Bank UK Ltd’s portfolio, making the stock its 8th largest position. Gulf International Bank UK Ltd’s holdings in Broadcom were worth $60,078,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of AVGO. Nvwm LLC boosted its position in Broadcom by 17.1% during the first quarter. Nvwm LLC now owns 1,556 shares of the semiconductor manufacturer’s stock worth $2,070,000 after purchasing an additional 227 shares in the last quarter. Zevenbergen Capital Investments LLC raised its stake in shares of Broadcom by 5.7% during the 1st quarter. Zevenbergen Capital Investments LLC now owns 31,700 shares of the semiconductor manufacturer’s stock worth $42,015,000 after buying an additional 1,700 shares during the period. Mitsubishi UFJ Asset Management UK Ltd. purchased a new position in shares of Broadcom during the 1st quarter valued at approximately $2,121,000. Illinois Municipal Retirement Fund grew its stake in Broadcom by 26.3% in the 1st quarter. Illinois Municipal Retirement Fund now owns 26,844 shares of the semiconductor manufacturer’s stock valued at $35,579,000 after acquiring an additional 5,584 shares during the period. Finally, Forsta AP Fonden increased its holdings in Broadcom by 7.9% in the 1st quarter. Forsta AP Fonden now owns 121,964 shares of the semiconductor manufacturer’s stock worth $161,652,000 after acquiring an additional 8,900 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling

In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the completion of the sale, the insider now directly owns 737,330 shares of the company’s stock, valued at $133,781,155.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, 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 transaction, the insider now directly owns 399,460 shares in the company, valued at $70,744,366. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 15,950 shares of the company’s stock in a transaction on Friday, October 11th. The stock was 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 of the company’s stock, valued at approximately $133,781,155.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 311,080 shares of company stock valued at $53,540,590 over the last quarter. 2.00% of the stock is currently owned by insiders.

Broadcom Stock Up 2.4 %

Shares of NASDAQ:AVGO opened at $183.81 on Friday. The firm has a 50 day simple moving average of $169.80 and a 200-day simple moving average of $156.94. Broadcom Inc. has a twelve month low of $89.90 and a twelve month 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 capitalization of $858.50 billion, a PE ratio of 159.70, a P/E/G ratio of 1.99 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data 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 return on equity of 30.12% and a net margin of 10.88%. The business had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same period in the prior year, the company earned $0.95 earnings per share. The company’s revenue was up 47.3% compared to the same quarter last year. On average, equities 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 is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.15%. Broadcom’s dividend payout ratio is 184.19%.

Analysts Set New Price Targets

Several research firms have issued reports on AVGO. JPMorgan Chase & Co. increased their price objective on shares of Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Mizuho lifted their price objective on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Rosenblatt Securities reduced their target price on Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a report on Friday, September 6th. Cantor Fitzgerald lifted their price target on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Finally, StockNews.com downgraded Broadcom from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Two research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $192.79.

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.