Broadcom Inc. (NASDAQ:AVGO) Stock Position Increased by Two Sigma Advisers LP

Two Sigma Advisers LP grew its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 2,187.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,564,360 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,408,554 shares during the period. Broadcom makes up about 1.4% of Two Sigma Advisers LP’s holdings, making the stock its 5th largest holding. Two Sigma Advisers LP owned about 0.08% of Broadcom worth $614,852,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp raised its holdings in shares of Broadcom by 948.5% in the 3rd quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock valued at $31,814,902,000 after purchasing an additional 166,844,263 shares in the last quarter. FMR LLC lifted its holdings in shares of Broadcom by 1,121.3% in the 3rd quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock valued at $15,594,088,000 after purchasing an additional 82,998,328 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Broadcom by 842.4% in the third quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock valued at $6,209,758,000 after acquiring an additional 32,178,542 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in 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 purchasing an additional 30,674,902 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted 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 worth $5,519,591,000 after buying an additional 28,985,434 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. TD Cowen raised shares of Broadcom to a “strong-buy” rating in a report on Monday, September 16th. UBS Group raised their price target on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Cantor Fitzgerald boosted their price objective on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Hsbc Global Res upgraded Broadcom to a “hold” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. increased their price target on Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Three investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $195.96.

Broadcom Stock Performance

Shares of AVGO opened at $170.47 on Friday. Broadcom Inc. has a twelve month low of $90.31 and a twelve month high of $186.42. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The firm’s 50 day moving average price is $172.87 and its two-hundred day moving average price is $162.51. The firm has a market cap of $796.19 billion, a P/E ratio of 148.23, a PEG ratio of 1.98 and a beta of 1.13.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS 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 the consensus estimate of $12.98 billion. During the same period in the prior year, the business posted $0.95 EPS. The company’s quarterly revenue was up 47.3% on a year-over-year basis. On average, analysts forecast that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Charlie B. Kawwas sold 15,950 shares of the stock in a transaction on 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 sale, the insider now directly owns 737,330 shares of the company’s stock, valued at approximately $133,781,155.20. This represents a 2.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 18,900 shares of Broadcom stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the completion of the transaction, the insider now directly owns 380,560 shares in the company, valued at $69,596,812.80. This trade represents a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 311,080 shares of company stock worth $53,540,590. Company insiders own 2.00% of the company’s stock.

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.