8,848 Shares in Broadcom Inc. (NASDAQ:AVGO) Bought by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 8,848 shares of the semiconductor manufacturer’s stock, valued at approximately $7,669,000.

A number of other institutional investors also recently added to or reduced their stakes in AVGO. Bank Julius Baer & Co. Ltd Zurich boosted its position in Broadcom by 96,355.6% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 236,738,760 shares of the semiconductor manufacturer’s stock worth $205,354,303,000 after acquiring an additional 236,493,322 shares during the period. Envestnet Asset Management Inc. boosted its position in Broadcom by 756.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 5,207,035 shares of the semiconductor manufacturer’s stock worth $404,363,000 after acquiring an additional 4,599,078 shares during the period. Norges Bank acquired a new position in Broadcom during the 4th quarter worth $2,222,676,000. Moneta Group Investment Advisors LLC boosted its position in Broadcom by 122,794.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,667,161 shares of the semiconductor manufacturer’s stock worth $2,050,420,000 after acquiring an additional 3,664,177 shares during the period. Finally, Providence Capital Advisors LLC boosted its position in Broadcom by 49,919.1% during the 1st quarter. Providence Capital Advisors LLC now owns 2,437,432 shares of the semiconductor manufacturer’s stock worth $3,799,000 after acquiring an additional 2,432,559 shares during the period. Institutional investors and hedge funds own 78.81% of the company’s stock.

Broadcom Stock Up 1.9 %

NASDAQ:AVGO opened at $977.73 on Friday. The firm has a market capitalization of $403.55 billion, a price-to-earnings ratio of 30.07, a PEG ratio of 1.90 and a beta of 1.11. Broadcom Inc. has a 1-year low of $511.00 and a 1-year high of $983.89. The company has a current ratio of 2.50, a quick ratio of 2.25 and a debt-to-equity ratio of 1.73. The business’s fifty day moving average price is $868.63 and its 200 day moving average price is $837.20.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, August 31st. The semiconductor manufacturer reported $10.54 earnings per share for the quarter, beating the consensus estimate of $10.43 by $0.11. Broadcom had a return on equity of 74.31% and a net margin of 39.25%. The firm had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.85 billion. During the same period in the previous year, the firm earned $9.07 earnings per share. Broadcom’s quarterly revenue was up 4.5% on a year-over-year basis. On average, sell-side analysts forecast that Broadcom Inc. will post 37.83 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Thursday, September 21st were given a $4.60 dividend. This represents a $18.40 annualized dividend and a yield of 1.88%. The ex-dividend date was Wednesday, September 20th. Broadcom’s payout ratio is currently 56.58%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Robert W. Baird upped their price objective on Broadcom from $900.00 to $1,000.00 and gave the company an “outperform” rating in a report on Tuesday, September 5th. Wells Fargo & Company upped their price objective on Broadcom from $800.00 to $900.00 and gave the company an “equal weight” rating in a report on Friday, September 1st. Needham & Company LLC upped their price objective on Broadcom from $33.00 to $44.00 in a report on Friday, September 1st. Deutsche Bank Aktiengesellschaft upped their price objective on Broadcom from $905.00 to $950.00 in a report on Friday, September 1st. Finally, KeyCorp restated an “overweight” rating and issued a $1,000.00 price objective on shares of Broadcom in a report on Thursday, September 14th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus price target of $848.52.

Insiders Place Their Bets

In other Broadcom news, Director Eddy W. Hartenstein sold 1,500 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $855.68, for a total value of $1,283,520.00. Following the transaction, the director now directly owns 9,123 shares of the company’s stock, valued at approximately $7,806,368.64. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Harry L. You acquired 1,000 shares of the stock in a transaction dated Friday, September 15th. The shares were acquired at an average price of $858.96 per share, with a total value of $858,960.00. Following the acquisition, the director now owns 3,510 shares in the company, valued at approximately $3,014,949.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eddy W. Hartenstein sold 1,500 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $855.68, for a total value of $1,283,520.00. Following the transaction, the director now directly owns 9,123 shares in the company, valued at approximately $7,806,368.64. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.

Broadcom Company 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.