Natixis Advisors LLC Buys 2,252,476 Shares of Broadcom Inc. (NASDAQ:AVGO)

Natixis Advisors LLC lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 988.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,480,379 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,252,476 shares during the period. Broadcom accounts for 0.8% of Natixis Advisors LLC’s holdings, making the stock its 17th biggest position. Natixis Advisors LLC’s holdings in Broadcom were worth $427,865,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. Evolution Wealth Advisors LLC raised its holdings in shares of Broadcom by 2,252.6% in the 3rd quarter. Evolution Wealth Advisors LLC now owns 3,623 shares of the semiconductor manufacturer’s stock valued at $625,000 after purchasing an additional 3,469 shares during the period. Kentucky Retirement Systems Insurance Trust Fund increased its position in Broadcom by 880.9% during the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 137,819 shares of the semiconductor manufacturer’s stock worth $23,774,000 after buying an additional 123,769 shares during the last quarter. Kentucky Retirement Systems increased its position in Broadcom by 887.9% during the third quarter. Kentucky Retirement Systems now owns 324,285 shares of the semiconductor manufacturer’s stock worth $55,939,000 after buying an additional 291,459 shares during the last quarter. Ipswich Investment Management Co. Inc. raised its stake in Broadcom by 1,037.6% in the third quarter. Ipswich Investment Management Co. Inc. now owns 4,960 shares of the semiconductor manufacturer’s stock valued at $856,000 after buying an additional 4,524 shares during the period. Finally, Nicollet Investment Management Inc. lifted its position in shares of Broadcom by 900.0% in the third quarter. Nicollet Investment Management Inc. now owns 1,910 shares of the semiconductor manufacturer’s stock valued at $329,000 after buying an additional 1,719 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Performance

Broadcom stock opened at $165.67 on Tuesday. The business’s 50-day moving average price is $173.34 and its two-hundred day moving average price is $159.57. Broadcom Inc. has a 12-month low of $90.31 and a 12-month high of $186.42. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The stock has a market cap of $773.77 billion, a PE ratio of 143.94, a P/E/G ratio of 1.94 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. The firm 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%. The company’s quarterly revenue was up 47.3% on a year-over-year basis. During the same quarter last year, the business posted $0.95 earnings per share. As a group, analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed 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 was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a yield of 1.28%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is currently 184.19%.

Insiders Place Their Bets

In related news, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. This trade represents a 3.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $181.44, for a total value of $2,893,968.00. Following the transaction, the insider now directly owns 737,330 shares in the company, valued at $133,781,155.20. The trade was 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 valued at $53,540,590 in the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Cantor Fitzgerald boosted their target price on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. TD Cowen upgraded shares of Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Benchmark restated a “buy” rating and set a $210.00 target price on shares of Broadcom in a research note on Friday, September 6th. Morgan Stanley upped their price target on shares of Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Finally, Truist Financial increased their price target on shares of Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $192.79.

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.