Associated Banc Corp Purchases 8,847 Shares of Broadcom Inc. (NASDAQ:AVGO)

Associated Banc Corp boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 1,504.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,435 shares of the semiconductor manufacturer’s stock after purchasing an additional 8,847 shares during the period. Associated Banc Corp’s holdings in Broadcom were worth $1,628,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in AVGO. Jennison Associates LLC grew its holdings 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 acquiring an additional 32,178,542 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Broadcom by 962.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,997,455 shares of the semiconductor manufacturer’s stock valued at $5,519,591,000 after purchasing an additional 28,985,434 shares during the last quarter. Fisher Asset Management LLC increased its holdings in shares of Broadcom by 938.8% in the third quarter. Fisher Asset Management LLC now owns 23,422,781 shares of the semiconductor manufacturer’s stock valued at $4,040,430,000 after purchasing an additional 21,168,095 shares in the last quarter. Swedbank AB lifted 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 buying an additional 16,453,718 shares in the last quarter. Finally, Swiss National Bank boosted its position in Broadcom by 907.0% in the 3rd quarter. Swiss National Bank now owns 13,125,930 shares of the semiconductor manufacturer’s stock valued at $2,264,223,000 after buying an additional 11,822,467 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 20,280 shares of the stock in a transaction on 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. This trade represents a 4.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Charlie B. Kawwas sold 15,950 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 737,330 shares in the company, valued at $133,781,155.20. This represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock worth $53,540,590 over the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Price Performance

Shares of AVGO opened at $164.74 on Wednesday. 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 twelve month low of $90.31 and a twelve month high of $186.42. The stock has a market capitalization of $769.43 billion, a P/E ratio of 143.13, a P/E/G ratio of 1.93 and a beta of 1.17. The company has a 50 day moving average of $173.76 and a 200-day moving average of $161.09.

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. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same period in the previous year, the business earned $0.95 EPS. The company’s revenue was up 47.3% compared to the same quarter last year. As a group, equities research analysts forecast that Broadcom Inc. will post 3.78 EPS for the current fiscal 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 dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, September 19th. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.29%. Broadcom’s dividend payout ratio is 184.19%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AVGO. JPMorgan Chase & Co. upped their price target on Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Cantor Fitzgerald upped their target price on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. UBS Group lifted their price target on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Rosenblatt Securities dropped their price target on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, September 6th. Finally, Benchmark reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Broadcom in a research note on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $195.96.

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.