Broadcom Inc. (NASDAQ:AVGO) Stock Position Increased by Fisher Asset Management LLC

Fisher Asset Management LLC raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 938.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,422,781 shares of the semiconductor manufacturer’s stock after buying an additional 21,168,095 shares during the quarter. Broadcom comprises about 1.7% of Fisher Asset Management LLC’s investment portfolio, making the stock its 10th biggest holding. Fisher Asset Management LLC owned about 0.50% of Broadcom worth $4,040,430,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in AVGO. Jacobs Levy Equity Management Inc. increased its stake in Broadcom by 166.2% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 2,316 shares of the semiconductor manufacturer’s stock valued at $3,070,000 after purchasing an additional 1,446 shares in the last quarter. Redwood Investment Management LLC bought a new stake in shares of Broadcom during the first quarter valued at approximately $1,015,000. Creekmur Asset Management LLC raised its holdings in Broadcom by 89.7% in the 1st quarter. Creekmur Asset Management LLC now owns 74 shares of the semiconductor manufacturer’s stock worth $98,000 after acquiring an additional 35 shares during the last quarter. Montchanin Asset Management LLC bought a new position in Broadcom in the 1st quarter valued at approximately $1,140,000. Finally, Kozak & Associates Inc. boosted its stake in Broadcom by 11.7% during the 1st quarter. Kozak & Associates Inc. now owns 362 shares of the semiconductor manufacturer’s stock valued at $510,000 after purchasing an additional 38 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Down 0.0 %

NASDAQ AVGO opened at $164.74 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 12 month low of $90.31 and a 12 month high of $186.42. The stock’s 50 day moving average is $173.76 and its 200 day moving average is $161.09. The stock has a market cap of $769.43 billion, a PE ratio of 143.13, a P/E/G ratio of 1.93 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last posted its earnings results 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 net margin of 10.88% and a return on equity of 30.12%. The company had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. During the same period last year, the company posted $0.95 earnings per share. Broadcom’s quarterly revenue was up 47.3% on a year-over-year basis. Research analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders 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 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date was Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is presently 184.19%.

Analysts Set New Price Targets

AVGO has been the topic of a number of research analyst reports. Truist Financial upped their price target on Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Rosenblatt Securities dropped their price target 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. Mizuho lifted their price target on shares of Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Benchmark restated a “buy” rating and set a $210.00 price objective on shares of Broadcom in a research report on Friday, September 6th. Finally, Cantor Fitzgerald lifted their target price on shares of Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Two investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and an average target price of $195.96.

Insider Transactions at Broadcom

In other 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 transaction, the insider now owns 737,330 shares of the company’s stock, valued at approximately $133,781,155.20. This represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Hock E. Tan sold 150,000 shares of the company’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total value of $25,941,000.00. Following the sale, the chief executive officer now owns 1,181,910 shares of the company’s stock, valued at approximately $204,399,515.40. This represents a 11.26 % 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 three months. Insiders own 2.00% of the company’s stock.

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.