Broadcom Inc. (NASDAQ:AVGO) Stock Position Raised by Boston Common Asset Management LLC

Boston Common Asset Management LLC lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 845.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 170,268 shares of the semiconductor manufacturer’s stock after acquiring an additional 152,260 shares during the quarter. Boston Common Asset Management LLC’s holdings in Broadcom were worth $29,371,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. AXA S.A. increased its stake in shares of Broadcom by 2.7% in the second quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer’s stock worth $467,334,000 after purchasing an additional 7,608 shares during the period. MRA Advisory Group boosted its holdings in shares of Broadcom by 954.1% in the 3rd quarter. MRA Advisory Group now owns 9,455 shares of the semiconductor manufacturer’s stock worth $1,631,000 after acquiring an additional 8,558 shares in the last quarter. Ensign Peak Advisors Inc boosted its holdings in shares of Broadcom by 19.1% in the 2nd quarter. Ensign Peak Advisors Inc now owns 524,537 shares of the semiconductor manufacturer’s stock worth $842,160,000 after acquiring an additional 84,196 shares in the last quarter. Red Spruce Capital LLC boosted its holdings in shares of Broadcom by 854.9% in the 3rd quarter. Red Spruce Capital LLC now owns 32,915 shares of the semiconductor manufacturer’s stock worth $5,678,000 after acquiring an additional 29,468 shares in the last quarter. Finally, Shellback Capital LP bought a new position in Broadcom in the 2nd quarter worth approximately $60,368,000. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Down 0.1 %

Shares of NASDAQ AVGO opened at $185.69 on Friday. The stock has a market cap of $864.36 billion, a PE ratio of 7.99, a price-to-earnings-growth ratio of 2.78 and a beta of 1.17. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 52-week low of $81.83 and a 52-week high of $186.42. The business has a 50-day moving average price of $161.39 and a 200 day moving average price of $150.97.

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 firm had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. Broadcom’s quarterly revenue was up 47.3% on a year-over-year basis. During the same period last year, the business posted $0.95 EPS. Equities research analysts forecast that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.14%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s payout ratio is 9.12%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Sanford C. Bernstein increased their price target on Broadcom from $160.00 to $195.00 and gave the company an “outperform” rating in a research note on Thursday, June 13th. Bank of America restated a “buy” rating and issued a $215.00 price objective (up previously from $200.00) on shares of Broadcom in a report on Monday, June 24th. UBS Group reduced their price target on Broadcom from $173.50 to $170.00 and set a “buy” rating for the company in a report on Monday, September 9th. Piper Sandler raised their price objective on shares of Broadcom from $165.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, June 13th. Finally, Cantor Fitzgerald lifted their price target on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday. Two research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and an average price target of $190.29.

Insider Buying and Selling at Broadcom

In other news, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the transaction, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, 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 value of $8,168,500.00. Following the transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at $217,594,136.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Charlie B. Kawwas sold 25,200 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total value of $4,240,404.00. Following the completion of the sale, the insider now directly owns 753,280 shares of the company’s stock, valued at approximately $126,754,425.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 276,230 shares of company stock valued at $47,190,190 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

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.