Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Point72 Italy S.r.l.

Point72 Italy S.r.l. increased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 1,477.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 138,852 shares of the semiconductor manufacturer’s stock after acquiring an additional 130,052 shares during the quarter. Broadcom makes up about 7.8% of Point72 Italy S.r.l.’s holdings, making the stock its 5th biggest position. Point72 Italy S.r.l.’s holdings in Broadcom were worth $23,952,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in AVGO. FMR LLC lifted its holdings in shares of Broadcom by 1,121.3% during the 3rd quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock valued at $15,594,088,000 after buying an additional 82,998,328 shares during the last quarter. Jennison Associates LLC grew its stake in Broadcom by 842.4% in the 3rd quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock valued at $6,209,758,000 after buying an additional 32,178,542 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Broadcom by 975.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer’s stock worth $5,833,894,000 after acquiring an additional 30,674,902 shares during the period. Charles Schwab Investment Management Inc. increased its position in Broadcom by 962.3% in the 3rd 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 acquiring an additional 28,985,434 shares during the period. Finally, Fisher Asset Management LLC grew its holdings in Broadcom by 938.8% in the third quarter. Fisher Asset Management LLC now owns 23,422,781 shares of the semiconductor manufacturer’s stock worth $4,040,430,000 after purchasing an additional 21,168,095 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This represents a 3.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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 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. In the last 90 days, insiders sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

AVGO has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Cantor Fitzgerald lifted their target price on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group raised their price objective on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, September 6th. Mizuho boosted their target price on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Morgan Stanley upped their target price on Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Two research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $195.96.

Broadcom Trading Up 1.0 %

Shares of AVGO opened at $168.15 on Wednesday. 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 stock has a market cap of $785.36 billion, a price-to-earnings ratio of 146.09, a price-to-earnings-growth ratio of 1.96 and a beta of 1.13. The firm has a 50 day simple moving average of $173.12 and a 200-day simple moving average of $162.12. Broadcom Inc. has a 1-year low of $90.31 and a 1-year high of $186.42.

Broadcom (NASDAQ:AVGO) last posted 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 business had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. Broadcom’s quarterly revenue was up 47.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.95 EPS. Equities analysts forecast that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is 184.19%.

Broadcom 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.