SageView Advisory Group LLC Purchases 16,126 Shares of Broadcom Inc. (NASDAQ:AVGO)

SageView Advisory Group LLC lifted its position in Broadcom Inc. (NASDAQ:AVGO) by 799.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,142 shares of the semiconductor manufacturer’s stock after acquiring an additional 16,126 shares during the quarter. SageView Advisory Group LLC’s holdings in Broadcom were worth $3,129,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. FMR LLC boosted its position in shares of Broadcom by 1,121.3% during the third quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock valued at $15,594,088,000 after buying an additional 82,998,328 shares during the period. Jennison Associates LLC lifted its stake in shares of Broadcom by 842.4% during the 3rd quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock worth $6,209,758,000 after acquiring an additional 32,178,542 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of 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 acquiring an additional 30,674,902 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Broadcom by 962.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,997,455 shares of the semiconductor manufacturer’s stock worth $5,519,591,000 after acquiring an additional 28,985,434 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its stake in shares of Broadcom by 938.8% during the 3rd quarter. Fisher Asset Management LLC now owns 23,422,781 shares of the semiconductor manufacturer’s stock worth $4,040,430,000 after acquiring an additional 21,168,095 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Charlie B. Kawwas sold 25,200 shares of Broadcom stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $168.27, for a total value of $4,240,404.00. Following the completion of the transaction, the insider now owns 753,280 shares in the company, valued at $126,754,425.60. The trade was a 3.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the transaction, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. This represents a 3.62 % decrease in their position. 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 quarter. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Performance

Shares of AVGO opened at $170.56 on Thursday. The stock has a 50-day moving average of $173.02 and a two-hundred day moving average of $162.31. Broadcom Inc. has a one year low of $90.31 and a one year 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 stock has a market cap of $796.61 billion, a P/E ratio of 148.18, a P/E/G ratio of 1.96 and a beta of 1.13.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. The business had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company’s revenue for the quarter was up 47.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.95 EPS. As a group, research analysts predict that Broadcom Inc. will post 3.78 EPS for the current year.

Analysts Set New Price Targets

AVGO has been the subject of a number of research analyst reports. William Blair initiated coverage on Broadcom in a research note on Wednesday, September 18th. They set an “outperform” rating for the company. The Goldman Sachs Group raised their price target on Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. raised their price target on Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Benchmark reissued a “buy” rating and set a $210.00 price target on shares of Broadcom in a research note on Friday, September 6th. Finally, Mizuho raised their price objective on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Two research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and an average target price of $195.96.

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.