World Investment Advisors LLC Purchases 1,006,708 Shares of Broadcom Inc. (NASDAQ:AVGO)

World Investment Advisors LLC lifted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 46,052.5% during the third quarter, HoldingsChannel reports. The firm owned 1,008,894 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,006,708 shares during the period. Broadcom comprises 1.0% of World Investment Advisors LLC’s investment portfolio, making the stock its 17th biggest position. World Investment Advisors LLC’s holdings in Broadcom were worth $174,034,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. XTX Topco Ltd acquired a new position in Broadcom during the 3rd quarter valued at $5,187,000. Zacks Investment Management grew its position in Broadcom by 774.4% in the 3rd quarter. Zacks Investment Management now owns 989,828 shares of the semiconductor manufacturer’s stock worth $170,745,000 after purchasing an additional 876,627 shares during the last quarter. Zurich Insurance Group Ltd FI increased its holdings in shares of Broadcom by 816.3% during the 3rd quarter. Zurich Insurance Group Ltd FI now owns 1,233,242 shares of the semiconductor manufacturer’s stock worth $212,734,000 after purchasing an additional 1,098,653 shares during the period. Hendershot Investments Inc. acquired a new position in shares of Broadcom during the third quarter valued at about $207,000. Finally, Goldstream Capital Management Ltd raised its position in shares of Broadcom by 855.0% during the third quarter. Goldstream Capital Management Ltd now owns 94,850 shares of the semiconductor manufacturer’s stock valued at $16,362,000 after buying an additional 84,918 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Performance

Shares of NASDAQ:AVGO opened at $179.53 on Friday. The business has a fifty day moving average of $172.87 and a 200-day moving average of $162.51. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. Broadcom Inc. has a twelve month low of $90.36 and a twelve month high of $186.42. The firm has a market cap of $838.51 billion, a PE ratio of 155.98, a price-to-earnings-growth ratio of 2.01 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 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. During the same quarter last year, the company posted $0.95 EPS. The company’s quarterly revenue was up 47.3% compared to the same quarter last year. On average, equities research analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Insider Activity at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 150,000 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the transaction, the chief executive officer now directly owns 1,181,910 shares in the company, valued at approximately $204,399,515.40. This represents a 11.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Charlie B. Kawwas sold 25,200 shares of Broadcom stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the sale, the insider now owns 753,280 shares of the company’s stock, valued at approximately $126,754,425.60. This represents a 3.24 % 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 over the last quarter. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several research reports. Cantor Fitzgerald boosted their price target on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. TD Cowen upgraded Broadcom to a “strong-buy” rating in a research report on Monday, September 16th. Rosenblatt Securities cut their target price on Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, September 6th. Benchmark reiterated a “buy” rating and set a $210.00 price target on shares of Broadcom in a research note on Friday, September 6th. Finally, Hsbc Global Res raised shares of Broadcom to a “hold” rating in a report on Tuesday. Three analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.