Generate Investment Management Ltd Boosts Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Generate Investment Management Ltd increased its stake in Broadcom Inc. (NASDAQ:AVGO) by 1,549.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 189,725 shares of the semiconductor manufacturer’s stock after purchasing an additional 178,220 shares during the period. Broadcom makes up 2.2% of Generate Investment Management Ltd’s holdings, making the stock its 10th largest position. Generate Investment Management Ltd’s holdings in Broadcom were worth $32,728,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC acquired a new stake in Broadcom in the 1st quarter valued at $178,000. Strategic Planning Group LLC grew its holdings in shares of Broadcom by 4.3% in the 1st quarter. Strategic Planning Group LLC now owns 2,348 shares of the semiconductor manufacturer’s stock valued at $3,112,000 after acquiring an additional 97 shares in the last quarter. Capital Advisors Wealth Management LLC increased its position in shares of Broadcom by 9.9% in the first quarter. Capital Advisors Wealth Management LLC now owns 1,522 shares of the semiconductor manufacturer’s stock valued at $2,018,000 after acquiring an additional 137 shares during the last quarter. Wealth Management Partners LLC raised its holdings in Broadcom by 98.0% during the first quarter. Wealth Management Partners LLC now owns 489 shares of the semiconductor manufacturer’s stock worth $648,000 after acquiring an additional 242 shares in the last quarter. Finally, Keystone Wealth Services LLC acquired a new position in Broadcom during the first quarter valued at approximately $211,000. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling

In other Broadcom news, CEO Hock E. Tan sold 150,000 shares of the stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the sale, the chief executive officer now directly owns 1,181,910 shares in the company, valued at $204,399,515.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the sale, the chief executive officer now directly 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 filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Hock E. Tan sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total value of $25,941,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,181,910 shares in the company, valued at $204,399,515.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock valued at $53,540,590 over the last quarter. 2.00% of the stock is owned by company insiders.

Broadcom Stock Performance

NASDAQ AVGO opened at $179.89 on Monday. The firm has a 50-day moving average price of $166.52 and a two-hundred day moving average price of $153.25. Broadcom Inc. has a 12-month low of $81.83 and a 12-month high of $186.42. The company has a market capitalization of $837.37 billion, a P/E ratio of 7.74, a P/E/G ratio of 2.99 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 (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. The business had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.95 earnings per share. Analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were given a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.18%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is presently 9.12%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AVGO. UBS Group lowered their price target on Broadcom from $173.50 to $170.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. Truist Financial boosted their target price on shares of Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Bank of America reiterated a “buy” rating and issued a $215.00 price target (up previously from $200.00) on shares of Broadcom in a research note on Monday, June 24th. Benchmark restated a “buy” rating and set a $210.00 price objective on shares of Broadcom in a research note on Friday, September 6th. Finally, Cantor Fitzgerald raised their target price on shares of Broadcom from $200.00 to $225.00 and gave the company 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 assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.54.

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.