Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Richard C. Young & CO. LTD.

Richard C. Young & CO. LTD. lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 902.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 136,390 shares of the semiconductor manufacturer’s stock after buying an additional 122,785 shares during the quarter. Broadcom makes up about 2.6% of Richard C. Young & CO. LTD.’s holdings, making the stock its 5th largest position. Richard C. Young & CO. LTD.’s holdings in Broadcom were worth $23,527,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Swedbank AB increased its position in Broadcom by 858.7% during the 3rd quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock worth $3,168,798,000 after purchasing an additional 16,453,718 shares in the last quarter. Swiss National Bank increased its position in Broadcom by 907.0% during the 3rd quarter. Swiss National Bank now owns 13,125,930 shares of the semiconductor manufacturer’s stock worth $2,264,223,000 after purchasing an additional 11,822,467 shares in the last quarter. Van ECK Associates Corp increased its position in Broadcom by 917.8% during the 3rd quarter. Van ECK Associates Corp now owns 12,701,500 shares of the semiconductor manufacturer’s stock worth $2,203,837,000 after purchasing an additional 11,453,554 shares in the last quarter. Raymond James & Associates increased its position in Broadcom by 855.4% during the 3rd quarter. Raymond James & Associates now owns 12,674,158 shares of the semiconductor manufacturer’s stock worth $2,186,292,000 after purchasing an additional 11,347,563 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in Broadcom by 908.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,374,079 shares of the semiconductor manufacturer’s stock worth $1,962,029,000 after purchasing an additional 10,245,786 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 20,280 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 399,460 shares in the company, valued at approximately $70,744,366. The trade was a 4.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. This trade represents a 3.62 % decrease in their ownership of the stock. 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 in the last three months. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

Broadcom stock opened at $163.25 on Thursday. The stock’s 50 day moving average price is $173.78 and its 200 day moving average price is $160.09. The firm has a market capitalization of $762.47 billion, a PE ratio of 141.96, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17. 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 Inc. has a one year low of $90.31 and a one year high of $186.42.

Broadcom (NASDAQ:AVGO) last announced 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 for the quarter, compared to analyst estimates of $12.98 billion. During the same period in the prior year, the company posted $0.95 EPS. Broadcom’s quarterly revenue was up 47.3% on a year-over-year basis. As a group, sell-side analysts expect 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. Shareholders of record on Thursday, September 19th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.30%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. Broadcom’s dividend payout ratio is presently 184.35%.

Analysts Set New Price Targets

AVGO has been the subject of a number of recent research reports. TD Cowen upgraded Broadcom to a “strong-buy” rating in a research report on Monday, September 16th. Mizuho lifted their price target on Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, October 14th. UBS Group lifted their price target on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday, November 4th. Benchmark restated a “buy” rating and issued a $210.00 price target on shares of Broadcom in a report on Friday, September 6th. Finally, Truist Financial lifted 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. Two analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus 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.