Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. lifted its position in Broadcom Inc. (NASDAQ:AVGO) by 877.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,720,100 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,544,100 shares during the quarter. Broadcom accounts for 2.1% of Mn Services Vermogensbeheer B.V.’s portfolio, making the stock its 6th largest position. Mn Services Vermogensbeheer B.V.’s holdings in Broadcom were worth $296,717,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Delta Asset Management LLC TN raised its stake in shares of Broadcom by 242.9% in the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 17 shares in the last quarter. Clear Point Advisors Inc. raised its stake in Broadcom by 310.0% during the first quarter. Clear Point Advisors Inc. now owns 41 shares of the semiconductor manufacturer’s stock worth $54,000 after acquiring an additional 31 shares in the last quarter. Indiana Trust & Investment Management CO raised its stake in Broadcom by 39.5% during the second quarter. Indiana Trust & Investment Management CO now owns 53 shares of the semiconductor manufacturer’s stock worth $85,000 after acquiring an additional 15 shares in the last quarter. Creekmur Asset Management LLC raised its stake in Broadcom by 89.7% during the first quarter. Creekmur Asset Management LLC now owns 74 shares of the semiconductor manufacturer’s stock worth $98,000 after acquiring an additional 35 shares in the last quarter. Finally, Kiely Wealth Advisory Group Inc. acquired a new position in Broadcom during the second quarter worth $128,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 20,280 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 399,460 shares of the company’s stock, valued at $70,744,366. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $181.44, for a total value of $2,893,968.00. Following the sale, the insider now owns 737,330 shares of the company’s stock, valued at approximately $133,781,155.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 20,280 shares of Broadcom stock in a transaction that occurred on Monday, October 7th. The shares were 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. This represents a 0.00 % 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 valued at $53,540,590 over the last 90 days. 2.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have issued reports on AVGO. Benchmark reiterated a “buy” rating and set a $210.00 price objective on shares of Broadcom in a research note on Friday, September 6th. Morgan Stanley increased their price objective on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Oppenheimer dropped their price objective on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a research note on Tuesday, July 16th. TD Cowen upgraded Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Finally, StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Two research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and an average target price of $192.79.

Broadcom Trading Up 2.4 %

NASDAQ:AVGO opened at $183.81 on Friday. Broadcom Inc. has a 1-year low of $89.90 and a 1-year high of $186.42. The business’s 50-day moving average price is $169.80 and its two-hundred day moving average price is $156.94. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $858.50 billion, a price-to-earnings ratio of 159.70, a PEG ratio of 1.99 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The company had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. Broadcom’s revenue was up 47.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.95 earnings per share. On average, equities analysts expect 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. Stockholders of record on Thursday, September 19th were given a dividend of $0.53 per share. The ex-dividend date was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.15%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is currently 184.19%.

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.