Broadcom Inc. $AVGO Shares Purchased by iA Global Asset Management Inc.

iA Global Asset Management Inc. lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.2% during the third quarter, HoldingsChannel reports. The firm owned 598,449 shares of the semiconductor manufacturer’s stock after acquiring an additional 18,798 shares during the quarter. Broadcom comprises 2.7% of iA Global Asset Management Inc.’s holdings, making the stock its 6th largest holding. iA Global Asset Management Inc.’s holdings in Broadcom were worth $197,434,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Longfellow Investment Management Co. LLC acquired a new stake in shares of Broadcom in the second quarter valued at approximately $27,000. Teachers Insurance & Annuity Association of America bought a new stake in shares of Broadcom in the 2nd quarter valued at about $28,000. LGT Financial Advisors LLC bought a new position in shares of Broadcom during the 2nd quarter worth approximately $31,000. New England Capital Financial Advisors LLC acquired a new stake in shares of Broadcom during the 2nd quarter worth about $31,000. Finally, JCIC Asset Management Inc. bought a new stake in shares of Broadcom during the third quarter worth approximately $31,000. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 38,281 shares of the firm’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $327.65, for a total value of $12,542,769.65. Following the sale, the insider owned 266,494 shares of the company’s stock, valued at $87,316,759.10. This trade represents a 12.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Henry Samueli sold 320,316 shares of Broadcom stock in a transaction on Monday, December 8th. The shares were sold at an average price of $400.53, for a total transaction of $128,296,167.48. Following the completion of the sale, the director owned 37,326,540 shares in the company, valued at approximately $14,950,399,066.20. This trade represents a 0.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 779,901 shares of company stock valued at $284,069,237. 2.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on AVGO shares. Oppenheimer increased their price target on Broadcom from $435.00 to $450.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Wall Street Zen upgraded Broadcom from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Truist Financial lifted their price target on Broadcom from $500.00 to $510.00 and gave the company a “buy” rating in a research note on Friday, December 19th. Evercore ISI upped their price objective on Broadcom from $342.00 to $403.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 15th. Finally, Benchmark boosted their target price on Broadcom from $385.00 to $485.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Broadcom presently has a consensus rating of “Buy” and a consensus target price of $438.61.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $333.24 on Thursday. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $414.61. The company has a current ratio of 1.71, a quick ratio of 1.58 and a debt-to-equity ratio of 0.76. The stock has a market cap of $1.58 trillion, a P/E ratio of 70.01, a P/E/G ratio of 1.10 and a beta of 1.21. The company has a 50 day moving average of $356.26 and a 200 day moving average of $336.89.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.08. The firm had revenue of $18.02 billion for the quarter, compared to analysts’ expectations of $17.46 billion. Broadcom had a net margin of 36.20% and a return on equity of 37.45%. The business’s quarterly revenue was up 28.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.42 earnings per share. As a group, sell-side analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd were paid a $0.65 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.59. This represents a $2.60 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Monday, December 22nd. Broadcom’s payout ratio is currently 54.62%.

Broadcom Company Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.