Broadcom Inc. (NASDAQ:AVGO) Stock Position Raised by Platinum Investment Management Ltd.

Platinum Investment Management Ltd. increased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 35.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 527,301 shares of the semiconductor manufacturer’s stock after buying an additional 139,433 shares during the period. Broadcom comprises about 7.2% of Platinum Investment Management Ltd.’s holdings, making the stock its 5th largest position. Platinum Investment Management Ltd.’s holdings in Broadcom were worth $122,249,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in AVGO. State Street Corp lifted its holdings in Broadcom by 948.5% in the 3rd quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock valued at $31,814,902,000 after purchasing an additional 166,844,263 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Broadcom by 976.6% in the 3rd quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock valued at $17,055,760,000 after purchasing an additional 89,975,941 shares in the last quarter. FMR LLC lifted its holdings in Broadcom by 1,121.3% in the 3rd quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock valued at $15,594,088,000 after purchasing an additional 82,998,328 shares in the last quarter. Jennison Associates LLC lifted its holdings in Broadcom by 842.4% in the 3rd quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock valued at $6,209,758,000 after purchasing an additional 32,178,542 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Broadcom by 975.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer’s stock valued at $5,833,894,000 after purchasing an additional 30,674,902 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AVGO has been the topic of a number of recent research reports. Rosenblatt Securities restated a “buy” rating and issued a $250.00 target price on shares of Broadcom in a report on Friday, March 7th. Bank of America upped their price objective on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Benchmark reaffirmed a “buy” rating and set a $255.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Mizuho dropped their price objective on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $300.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $231.48.

Broadcom Stock Down 3.0 %

NASDAQ AVGO opened at $188.67 on Wednesday. The stock has a market cap of $887.12 billion, a PE ratio of 153.89, a P/E/G ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. The business has a 50 day moving average price of $216.48 and a two-hundred day moving average price of $194.61. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Thursday, March 20th. Broadcom’s dividend payout ratio is presently 113.46%.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 20,168 shares of the stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the completion of the transaction, the insider now directly owns 321,660 shares in the company, valued at approximately $76,809,191.40. This represents a 5.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the transaction, the director now owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 184,738 shares of company stock worth $43,395,200 in the last 90 days. 2.00% of the stock is owned by company insiders.

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.