Marshall Wace North America L.P. decreased its position in Broadcom Inc (NASDAQ:AVGO) by 33.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 224,229 shares of the semiconductor manufacturer’s stock after selling 111,518 shares during the period. Marshall Wace North America L.P. owned approximately 0.05% of Broadcom worth $55,324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of AVGO. Marshall Wace LLP raised its stake in shares of Broadcom by 189.7% during the 3rd quarter. Marshall Wace LLP now owns 69,355 shares of the semiconductor manufacturer’s stock valued at $17,112,000 after buying an additional 45,415 shares during the last quarter. Great Lakes Advisors LLC raised its stake in shares of Broadcom by 7.4% during the 3rd quarter. Great Lakes Advisors LLC now owns 3,247 shares of the semiconductor manufacturer’s stock valued at $801,000 after buying an additional 223 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Broadcom by 6.6% during the 3rd quarter. Vanguard Group Inc. now owns 33,632,811 shares of the semiconductor manufacturer’s stock valued at $8,298,223,000 after buying an additional 2,094,847 shares during the last quarter. Morgan Stanley increased its stake in shares of Broadcom by 121.7% in the 3rd quarter. Morgan Stanley now owns 4,296,700 shares of the semiconductor manufacturer’s stock valued at $1,060,125,000 after purchasing an additional 2,358,329 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Broadcom by 3.1% in the 3rd quarter. Legal & General Group Plc now owns 1,782,339 shares of the semiconductor manufacturer’s stock valued at $439,756,000 after purchasing an additional 53,494 shares in the last quarter. Institutional investors own 85.22% of the company’s stock.

Several equities analysts recently weighed in on the company. Cascend Securities upgraded Broadcom from a “hold” rating to a “buy” rating in a research note on Friday. BMO Capital Markets lifted their price target on Broadcom from $230.00 to $250.00 and gave the company a “market perform” rating in a research note on Friday. MKM Partners lifted their price target on Broadcom from $255.00 to $280.00 and gave the company a “buy” rating in a research note on Friday. Morgan Stanley cut their price target on Broadcom from $260.00 to $250.00 and set an “equal weight” rating for the company in a research note on Friday. Finally, UBS Group restated a “buy” rating and issued a $275.00 price target (down previously from $300.00) on shares of Broadcom in a research note on Friday. Nine research analysts have rated the stock with a hold rating and thirty-three have given a buy rating to the stock. Broadcom has an average rating of “Buy” and a consensus target price of $287.31.

In other news, insider Kirsten M. Spears sold 1,194 shares of the business’s stock in a transaction that occurred on Friday, September 28th. The stock was sold at an average price of $246.52, for a total transaction of $294,344.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Hock E. Tan sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $228.94, for a total value of $4,578,800.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 61,194 shares of company stock worth $14,266,145. Insiders own 3.30% of the company’s stock.

Shares of Broadcom stock traded up $4.61 on Friday, hitting $231.85. 96,656 shares of the company were exchanged, compared to its average volume of 2,769,293. The stock has a market cap of $95.94 billion, a P/E ratio of 16.14, a P/E/G ratio of 1.00 and a beta of 1.03. Broadcom Inc has a 1-year low of $197.46 and a 1-year high of $275.70. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.98 and a quick ratio of 3.42.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 6th. The semiconductor manufacturer reported $5.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $5.58 by $0.27. The business had revenue of $5.45 billion for the quarter, compared to analysts’ expectations of $5.40 billion. Broadcom had a return on equity of 28.54% and a net margin of 58.18%. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.59 EPS. As a group, research analysts expect that Broadcom Inc will post 18.09 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Wednesday, December 19th will be issued a dividend of $2.65 per share. This is a boost from Broadcom’s previous quarterly dividend of $1.75. This represents a $10.60 annualized dividend and a dividend yield of 4.57%. Broadcom’s payout ratio is currently 48.95%.

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Broadcom Company Profile

Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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