Broadcom Inc. (NASDAQ:AVGO) Holdings Raised by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. grew its stake in Broadcom Inc. (NASDAQ:AVGO) by 924.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 343,673 shares of the semiconductor manufacturer’s stock after buying an additional 310,118 shares during the quarter. Broadcom accounts for about 1.6% of Northwest & Ethical Investments L.P.’s portfolio, making the stock its 4th largest holding. Northwest & Ethical Investments L.P.’s holdings in Broadcom were worth $59,284,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Jacobs Levy Equity Management Inc. boosted its position in Broadcom by 166.2% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 2,316 shares of the semiconductor manufacturer’s stock worth $3,070,000 after purchasing an additional 1,446 shares in the last quarter. Soltis Investment Advisors LLC lifted its stake in shares of Broadcom by 7.4% in the 1st quarter. Soltis Investment Advisors LLC now owns 521 shares of the semiconductor manufacturer’s stock valued at $690,000 after purchasing an additional 36 shares during the period. Cypress Asset Management Inc. TX boosted its stake in shares of Broadcom by 26.1% during the 1st quarter. Cypress Asset Management Inc. TX now owns 6,190 shares of the semiconductor manufacturer’s stock worth $8,345,000 after acquiring an additional 1,282 shares in the last quarter. American Trust boosted its position in Broadcom by 9.8% during the first quarter. American Trust now owns 495 shares of the semiconductor manufacturer’s stock worth $656,000 after purchasing an additional 44 shares in the last quarter. Finally, Jackson Wealth Management LLC grew its stake in Broadcom by 2.2% in the 1st quarter. Jackson Wealth Management LLC now owns 18,312 shares of the semiconductor manufacturer’s stock valued at $24,271,000 after acquiring an additional 386 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

Broadcom stock opened at $159.67 on Friday. 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 company has a market cap of $745.75 billion, a P/E ratio of 138.84, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17. Broadcom Inc. has a fifty-two week low of $90.31 and a fifty-two week high of $186.42. The firm’s 50 day simple moving average is $173.57 and its 200-day simple moving average is $161.49.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same quarter in the prior year, the company earned $0.95 earnings per share. The company’s revenue for the quarter was up 47.3% on a year-over-year basis. As a group, equities research analysts predict that Broadcom Inc. will post 3.78 EPS for the current 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 issued a $0.53 dividend. 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 dividend on an annualized basis and a dividend yield of 1.33%. Broadcom’s dividend payout ratio is currently 184.35%.

Analyst Upgrades and Downgrades

AVGO has been the subject of several research reports. Rosenblatt Securities dropped 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. UBS Group upped their price objective on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday, November 4th. Cantor Fitzgerald boosted their price target on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Morgan Stanley raised their target price on Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Finally, TD Cowen upgraded Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. Two investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $195.96.

Insider Transactions at Broadcom

In related 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 transaction of $3,591,588.00. Following the completion of the sale, the insider now owns 399,460 shares of the company’s stock, valued at approximately $70,744,366. This trade represents a 4.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at $217,594,136.70. This trade represents a 3.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock valued at $53,540,590 over the last three months. 2.00% of the stock is owned by corporate insiders.

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.