Broadcom Inc. (NASDAQ:AVGO) is Sustainable Insight Capital Management LLC’s 2nd Largest Position

Sustainable Insight Capital Management LLC grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 835.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,520 shares of the semiconductor manufacturer’s stock after purchasing an additional 79,948 shares during the period. Broadcom comprises about 7.0% of Sustainable Insight Capital Management LLC’s portfolio, making the stock its 2nd biggest position. Sustainable Insight Capital Management LLC’s holdings in Broadcom were worth $15,442,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Swedbank AB grew 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 during the last quarter. Van ECK Associates Corp raised its stake in shares of 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 buying an additional 11,453,554 shares in the last quarter. Raymond James & Associates raised its position in Broadcom by 855.4% in the third quarter. Raymond James & Associates now owns 12,674,158 shares of the semiconductor manufacturer’s stock worth $2,186,292,000 after acquiring an additional 11,347,563 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Broadcom by 226,130.5% during the 3rd quarter. International Assets Investment Management LLC now owns 8,246,100 shares of the semiconductor manufacturer’s stock worth $14,224,520,000 after purchasing an additional 8,242,455 shares during the period. Finally, National Pension Service grew its position in Broadcom by 1,045.4% during the third quarter. National Pension Service now owns 8,273,157 shares of the semiconductor manufacturer’s stock worth $1,427,120,000 after buying an additional 7,550,878 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction on 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 completion of the sale, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 transaction 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction dated 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 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 position. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock valued at $53,540,590 in the last three months. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several research reports. Benchmark reaffirmed a “buy” rating and issued a $210.00 target price on shares of Broadcom in a research report on Friday, September 6th. JPMorgan Chase & Co. lifted their price target on shares of Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. StockNews.com cut shares of Broadcom from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Truist Financial lifted their price target on Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, Cantor Fitzgerald raised their price objective on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Two equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.79.

Broadcom Stock Performance

NASDAQ:AVGO opened at $176.22 on Wednesday. The firm has a market cap of $823.05 billion, a price-to-earnings ratio of 153.10, a PEG ratio of 2.16 and a beta of 1.17. Broadcom Inc. has a 52-week low of $90.31 and a 52-week high of $186.42. The business’s fifty day moving average is $171.08 and its 200 day moving average is $158.17. 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 (NASDAQ:AVGO) last issued its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same quarter in the prior year, the firm earned $0.95 earnings per share. Broadcom’s revenue for the quarter was up 47.3% on a year-over-year basis. Research analysts predict that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were given a dividend of $0.53 per share. The ex-dividend date was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.20%. Broadcom’s payout ratio is currently 184.19%.

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.