Crossmark Global Holdings Inc. Purchases 423,696 Shares of Broadcom Inc. (NASDAQ:AVGO)

Crossmark Global Holdings Inc. lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 1,286.2% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 456,638 shares of the semiconductor manufacturer’s stock after purchasing an additional 423,696 shares during the quarter. Broadcom comprises approximately 1.4% of Crossmark Global Holdings Inc.’s holdings, making the stock its 5th largest holding. Crossmark Global Holdings Inc.’s holdings in Broadcom were worth $78,770,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Broadcom by 3.0% in the first quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock valued at $59,181,244,000 after purchasing an additional 1,303,462 shares during the last quarter. Swedbank AB increased its holdings 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 position in shares of Broadcom by 917.8% in the 3rd quarter. Van ECK Associates Corp now owns 12,701,500 shares of the semiconductor manufacturer’s stock valued at $2,203,837,000 after purchasing an additional 11,453,554 shares in the last quarter. Raymond James & Associates boosted its stake in shares of Broadcom by 855.4% during the 3rd quarter. Raymond James & Associates now owns 12,674,158 shares of the semiconductor manufacturer’s stock valued at $2,186,292,000 after buying an additional 11,347,563 shares during the last quarter. Finally, National Pension Service grew its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Down 1.5 %

Shares of AVGO stock opened at $173.58 on Thursday. 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 12 month low of $90.31 and a 12 month high of $186.42. The stock has a 50 day moving average of $171.55 and a 200-day moving average of $158.53. The firm has a market cap of $810.72 billion, a PE ratio of 150.81, a price-to-earnings-growth ratio of 2.07 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data 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 firm had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company’s revenue was up 47.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.95 EPS. On average, equities analysts predict that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a dividend of $0.53 per share. The ex-dividend date of this dividend 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 1.22%. Broadcom’s payout ratio is currently 184.19%.

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 20,280 shares of Broadcom stock in a transaction dated 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 owns 399,460 shares in the company, valued at $70,744,366. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Broadcom news, insider Mark David Brazeal sold 20,280 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 399,460 shares of the company’s stock, valued at $70,744,366. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 25,200 shares of Broadcom stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the transaction, the insider now directly owns 753,280 shares in the company, valued at $126,754,425.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 311,080 shares of company stock worth $53,540,590. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. UBS Group lifted their price target on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. raised their price objective on Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Morgan Stanley boosted their target price on shares of Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Cantor Fitzgerald raised their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Finally, Benchmark reaffirmed a “buy” rating and set a $210.00 price objective on shares of Broadcom in a research report on Friday, September 6th. Two 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 stock. Based on data from MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.79.

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.