Broadcom Inc. (NASDAQ:AVGO) Stake Raised by Assetmark Inc.

Assetmark Inc. raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 942.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,639,748 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,482,423 shares during the period. Broadcom accounts for approximately 0.8% of Assetmark Inc.’s portfolio, making the stock its 27th biggest holding. Assetmark Inc.’s holdings in Broadcom were worth $282,856,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Broadcom by 27.8% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 90,155 shares of the semiconductor manufacturer’s stock worth $119,493,000 after acquiring an additional 19,598 shares in the last quarter. New Insight Wealth Advisors raised its stake in shares of Broadcom by 2.5% during the 1st quarter. New Insight Wealth Advisors now owns 943 shares of the semiconductor manufacturer’s stock worth $1,250,000 after purchasing an additional 23 shares in the last quarter. Rogco LP lifted its holdings in shares of Broadcom by 10,820.0% during the 1st quarter. Rogco LP now owns 546 shares of the semiconductor manufacturer’s stock valued at $724,000 after buying an additional 541 shares during the last quarter. Pettyjohn Wood & White Inc. grew its stake in shares of Broadcom by 1.1% in the 1st quarter. Pettyjohn Wood & White Inc. now owns 1,198 shares of the semiconductor manufacturer’s stock valued at $1,588,000 after buying an additional 13 shares in the last quarter. Finally, Hudson Value Partners LLC increased its holdings in Broadcom by 2.7% in the first quarter. Hudson Value Partners LLC now owns 308 shares of the semiconductor manufacturer’s stock worth $408,000 after buying an additional 8 shares during the last quarter. 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 the business’s 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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Broadcom news, insider Mark David Brazeal sold 20,280 shares of Broadcom stock in a transaction on Monday, October 7th. The stock was sold at an average price of $177.10, for a total value of $3,591,588.00. Following the completion of 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the company’s 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 owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock worth $53,540,590 in the last quarter. 2.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

AVGO has been the subject of a number of analyst reports. StockNews.com cut shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. increased their target price on shares of Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Rosenblatt Securities reduced their price target on Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a research report on Friday, September 6th. Cantor Fitzgerald increased their price objective on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Finally, UBS Group upped their target price on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $192.79.

Broadcom Trading Down 2.6 %

Shares of AVGO stock opened at $178.91 on Tuesday. The stock has a market cap of $835.61 billion, a price-to-earnings ratio of 155.44, a P/E/G ratio of 2.16 and a beta of 1.17. The firm has a fifty day moving average of $170.75 and a 200-day moving average of $157.78. Broadcom Inc. has a 52-week low of $90.31 and a 52-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.

Broadcom (NASDAQ:AVGO) last released 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. The company had revenue of $13.07 billion for the quarter, compared to analyst estimates 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 period in the prior year, the company posted $0.95 EPS. On average, equities research analysts forecast that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

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

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.