Schroder Investment Management Group Has $116.15 Million Stake in Broadcom Inc (AVGO)

Schroder Investment Management Group lifted its stake in shares of Broadcom Inc (NASDAQ:AVGO) by 1,844.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 470,734 shares of the semiconductor manufacturer’s stock after purchasing an additional 446,519 shares during the period. Schroder Investment Management Group’s holdings in Broadcom were worth $116,145,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in AVGO. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Broadcom during the third quarter worth approximately $18,664,000. Sustainable Insight Capital Management LLC lifted its stake in Broadcom by 92.2% during the third quarter. Sustainable Insight Capital Management LLC now owns 7,700 shares of the semiconductor manufacturer’s stock worth $1,900,000 after purchasing an additional 3,694 shares during the last quarter. CIBC World Markets Inc. lifted its stake in Broadcom by 153.4% during the third quarter. CIBC World Markets Inc. now owns 158,597 shares of the semiconductor manufacturer’s stock worth $39,131,000 after purchasing an additional 96,000 shares during the last quarter. Amica Retiree Medical Trust lifted its stake in Broadcom by 19.2% during the third quarter. Amica Retiree Medical Trust now owns 3,028 shares of the semiconductor manufacturer’s stock worth $747,000 after purchasing an additional 488 shares during the last quarter. Finally, Amica Pension Fund Board of Trustees lifted its stake in Broadcom by 19.1% during the third quarter. Amica Pension Fund Board of Trustees now owns 19,343 shares of the semiconductor manufacturer’s stock worth $4,772,000 after purchasing an additional 3,103 shares during the last quarter. 85.12% of the stock is owned by institutional investors and hedge funds.

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 value of $294,344.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Hock E. Tan sold 20,000 shares of the company’s stock in a transaction on Monday, October 15th. The stock was sold at an average price of $231.03, for a total value of $4,620,600.00. The disclosure for this sale can be found here. In the last three months, insiders sold 61,194 shares of company stock worth $14,266,145. Corporate insiders own 3.30% of the company’s stock.

AVGO has been the subject of several recent analyst reports. MKM Partners decreased their target price on Broadcom to $255.00 in a research note on Friday, September 7th. Mizuho restated a “buy” rating and set a $280.00 target price on shares of Broadcom in a research note on Friday, September 7th. Sanford C. Bernstein set a $310.00 target price on Broadcom and gave the stock a “buy” rating in a research note on Friday, September 7th. Canaccord Genuity restated a “buy” rating and set a $335.00 target price (up previously from $300.00) on shares of Broadcom in a research note on Friday, September 7th. Finally, Craig Hallum restated a “buy” rating and set a $300.00 target price (down previously from $330.00) on shares of Broadcom in a research note on Friday, September 7th. Nine equities research analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $290.02.

NASDAQ:AVGO opened at $229.90 on Friday. The company has a market capitalization of $95.09 billion, a PE ratio of 16.08, a P/E/G ratio of 0.91 and a beta of 0.99. The company has a current ratio of 3.98, a quick ratio of 3.42 and a debt-to-equity ratio of 0.64. Broadcom Inc has a 12-month low of $197.46 and a 12-month high of $285.68.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, September 6th. The semiconductor manufacturer reported $4.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.82 by $0.16. The business had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5.06 billion. Broadcom had a return on equity of 28.54% and a net margin of 58.18%. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.10 earnings per share. Equities analysts predict that Broadcom Inc will post 18.09 earnings per share for the current year.

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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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