GS Investments Inc. Purchases 10,319 Shares of Broadcom Inc. (NASDAQ:AVGO)

GS Investments Inc. lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 900.4% during the third quarter, Holdings Channel.com reports. The firm owned 11,465 shares of the semiconductor manufacturer’s stock after buying an additional 10,319 shares during the quarter. GS Investments Inc.’s holdings in Broadcom were worth $1,978,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in AVGO. Jennison Associates LLC increased its position in Broadcom by 842.4% during the 3rd quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock worth $6,209,758,000 after buying an additional 32,178,542 shares during the period. Swedbank AB increased its position in Broadcom by 858.7% during the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock worth $3,168,798,000 after acquiring an additional 16,453,718 shares during the period. Swiss National Bank raised its stake in Broadcom by 907.0% in the 3rd quarter. Swiss National Bank now owns 13,125,930 shares of the semiconductor manufacturer’s stock worth $2,264,223,000 after purchasing an additional 11,822,467 shares in the last quarter. Van ECK Associates Corp boosted its holdings in 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 during the period. Finally, Raymond James & Associates grew its position 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 worth $2,186,292,000 after purchasing an additional 11,347,563 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Broadcom

In other news, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $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 accessible through this link. Also, insider Mark David Brazeal sold 20,280 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the sale, the insider now owns 399,460 shares of the company’s stock, valued at approximately $70,744,366. This trade represents a 4.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock worth $53,540,590 over the last ninety days. 2.00% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on AVGO. Rosenblatt Securities cut their price target on Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, September 6th. William Blair began coverage on Broadcom in a report on Wednesday, September 18th. They set an “outperform” rating on the stock. Morgan Stanley boosted their price target on Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. increased their price objective 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. Finally, UBS Group boosted their target price on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Two equities research 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 data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.79.

Broadcom Stock Up 0.2 %

NASDAQ:AVGO opened at $164.23 on Friday. Broadcom Inc. has a one year low of $90.31 and a one year high of $186.42. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The company has a market cap of $767.05 billion, a PE ratio of 142.81, a P/E/G ratio of 1.93 and a beta of 1.17. The firm’s 50 day simple moving average is $173.70 and its 200 day simple moving average is $160.62.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results 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 company 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%. Broadcom’s revenue was up 47.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.95 earnings per share. On average, research 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. Stockholders of record on Thursday, September 19th were paid a $0.53 dividend. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.29%. Broadcom’s dividend payout ratio is presently 184.35%.

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.