Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by New England Asset Management Inc.

New England Asset Management Inc. raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 517.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,855 shares of the semiconductor manufacturer’s stock after purchasing an additional 16,640 shares during the quarter. New England Asset Management Inc.’s holdings in Broadcom were worth $3,425,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Stonebridge Capital Advisors LLC lifted its position in shares of Broadcom by 18.9% during the first quarter. Stonebridge Capital Advisors LLC now owns 226 shares of the semiconductor manufacturer’s stock worth $300,000 after purchasing an additional 36 shares during the last quarter. Gamco Investors INC. ET AL lifted its holdings in Broadcom by 80.5% during the 1st quarter. Gamco Investors INC. ET AL now owns 897 shares of the semiconductor manufacturer’s stock worth $1,189,000 after buying an additional 400 shares during the last quarter. Epoch Investment Partners Inc. grew its position in shares of Broadcom by 6.2% in the 1st quarter. Epoch Investment Partners Inc. now owns 395,266 shares of the semiconductor manufacturer’s stock worth $523,890,000 after acquiring an additional 23,162 shares in the last quarter. Lazard Asset Management LLC grew its position in shares of Broadcom by 297.2% in the 1st quarter. Lazard Asset Management LLC now owns 523,732 shares of the semiconductor manufacturer’s stock worth $694,158,000 after acquiring an additional 391,877 shares in the last quarter. Finally, Steel Grove Capital Advisors LLC increased its holdings in shares of Broadcom by 75.5% in the 1st quarter. Steel Grove Capital Advisors LLC now owns 918 shares of the semiconductor manufacturer’s stock valued at $1,217,000 after acquiring an additional 395 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Price Performance

NASDAQ:AVGO opened at $163.89 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The business’s 50-day moving average price is $173.77 and its 200 day moving average price is $160.37. Broadcom Inc. has a 52-week low of $90.31 and a 52-week high of $186.42. The firm has a market cap of $765.45 billion, a P/E ratio of 142.39, a PEG ratio of 1.94 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data 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. The company had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business’s revenue was up 47.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.95 EPS. As a group, sell-side analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business 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 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 1.29%. Broadcom’s dividend payout ratio (DPR) is currently 184.19%.

Analyst Upgrades and Downgrades

A number of research firms have commented on AVGO. Morgan Stanley lifted their price objective on shares of Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Benchmark reaffirmed a “buy” rating and set a $210.00 price objective on shares of Broadcom in a research report on Friday, September 6th. William Blair started coverage on Broadcom in a research note on Wednesday, September 18th. They issued an “outperform” rating for the company. UBS Group increased their price target on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, TD Cowen upgraded Broadcom to a “strong-buy” rating in a research report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and an average price target of $192.79.

Insider Buying and Selling

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the sale, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. The trade was a 3.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark David Brazeal sold 20,280 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was 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 of the company’s stock, valued at approximately $70,744,366. This trade represents a 4.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock worth $53,540,590 in the last three months. 2.00% of the stock is currently owned by insiders.

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.