Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Unigestion Holding SA

Unigestion Holding SA grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 735.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,250 shares of the semiconductor manufacturer’s stock after acquiring an additional 14,305 shares during the quarter. Unigestion Holding SA’s holdings in Broadcom were worth $2,803,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. State Street Corp raised its stake in Broadcom by 948.5% during the third quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock worth $31,814,902,000 after purchasing an additional 166,844,263 shares during the period. Geode Capital Management LLC grew its stake in shares of Broadcom by 976.6% during the 3rd quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock valued at $17,055,760,000 after buying an additional 89,975,941 shares during the period. FMR LLC increased its holdings in shares of Broadcom by 1,121.3% during the 3rd quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock worth $15,594,088,000 after buying an additional 82,998,328 shares during the last quarter. Jennison Associates LLC raised its position in shares of Broadcom by 842.4% in the 3rd quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock worth $6,209,758,000 after buying an additional 32,178,542 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Broadcom by 975.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer’s stock valued at $5,833,894,000 after purchasing an additional 30,674,902 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. The trade was a 3.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 15,950 shares of the firm’s stock in a transaction on 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 2.12 % 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 worth $53,540,590 in the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

AVGO stock opened at $171.81 on Wednesday. The stock has a market cap of $802.45 billion, a P/E ratio of 149.40, a P/E/G ratio of 2.11 and a beta of 1.13. 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 has a 50 day simple moving average of $173.14 and a 200 day simple moving average of $163.05. Broadcom Inc. has a 52 week low of $95.61 and a 52 week high of $186.42.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AVGO. Rosenblatt Securities reduced their target price on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a report on Friday, September 6th. Truist Financial raised their price target on shares of Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. The Goldman Sachs Group boosted their price objective on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, September 6th. Citigroup boosted their target price on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, William Blair initiated coverage on Broadcom in a research report on Wednesday, September 18th. They set an “outperform” rating on the stock. Three investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and a consensus price target of $198.09.

About Broadcom

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.