Foster Group Inc. Grows Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Foster Group Inc. raised its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 871.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,448 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,990 shares during the period. Foster Group Inc.’s holdings in Broadcom were worth $767,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AVGO. Handelsbanken Fonder AB grew its stake in shares of Broadcom by 826.3% during the third quarter. Handelsbanken Fonder AB now owns 2,963,813 shares of the semiconductor manufacturer’s stock valued at $511,258,000 after buying an additional 2,643,845 shares during the last quarter. Swedbank AB bought a new position in shares of Broadcom during the first quarter valued at about $2,835,737,000. Vanguard Group Inc. grew its stake in shares of Broadcom by 3.0% during the first quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock valued at $59,181,244,000 after buying an additional 1,303,462 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Broadcom by 43.9% during the first quarter. Jennison Associates LLC now owns 4,141,025 shares of the semiconductor manufacturer’s stock valued at $5,488,556,000 after buying an additional 1,263,957 shares during the last quarter. Finally, GQG Partners LLC grew its stake in shares of Broadcom by 48.9% during the first quarter. GQG Partners LLC now owns 2,992,833 shares of the semiconductor manufacturer’s stock valued at $3,966,730,000 after buying an additional 983,328 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 7,502 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the completion of the sale, the chief executive officer now directly owns 138,191 shares in the company, valued at approximately $235,746,936.45. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Charlie B. Kawwas sold 25,200 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the sale, the insider now owns 753,280 shares of the company’s stock, valued at $126,754,425.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Hock E. Tan sold 7,502 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the sale, the chief executive officer now directly owns 138,191 shares of the company’s stock, valued at approximately $235,746,936.45. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 263,452 shares of company stock worth $56,396,638. Insiders own 2.00% of the company’s stock.

Broadcom Stock Down 0.9 %

NASDAQ AVGO traded down $1.56 during mid-day trading on Monday, reaching $175.08. The stock had a trading volume of 15,540,297 shares, compared to its average volume of 31,117,604. Broadcom Inc. has a 1 year low of $81.83 and a 1 year high of $185.16. The stock has a market cap of $814.98 billion, a PE ratio of 7.53, a price-to-earnings-growth ratio of 2.78 and a beta of 1.17. The company has a fifty day moving average price of $159.64 and a 200 day moving average price of $149.81. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company had revenue of $13.07 billion during 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 firm’s revenue for the quarter was up 47.3% on a year-over-year basis. On average, research analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders 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 dividend on an annualized basis and a yield of 1.21%. Broadcom’s payout ratio is currently 9.12%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AVGO. Sanford C. Bernstein raised their target price on Broadcom from $160.00 to $195.00 and gave the stock an “outperform” rating in a research note on Thursday, June 13th. Morgan Stanley raised their target price on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Citigroup reissued a “buy” rating and issued a $156.00 target price on shares of Broadcom in a research note on Tuesday, June 11th. UBS Group cut their target price on Broadcom from $173.50 to $170.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price objective on shares of Broadcom in a research report on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $189.23.

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.