Dupont Capital Management Corp bought a new position in Broadcom Inc (NASDAQ:AVGO) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 6,418 shares of the semiconductor manufacturer’s stock, valued at approximately $1,584,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cannell Peter B & Co. Inc. lifted its position in shares of Broadcom by 0.3% during the third quarter. Cannell Peter B & Co. Inc. now owns 205,675 shares of the semiconductor manufacturer’s stock worth $50,746,000 after purchasing an additional 535 shares in the last quarter. Park Avenue Securities LLC acquired a new stake in Broadcom in the third quarter valued at $300,000. Janney Montgomery Scott LLC raised its holdings in Broadcom by 48.2% in the third quarter. Janney Montgomery Scott LLC now owns 70,846 shares of the semiconductor manufacturer’s stock valued at $17,480,000 after acquiring an additional 23,033 shares in the last quarter. AlphaMark Advisors LLC raised its holdings in Broadcom by 69.2% in the third quarter. AlphaMark Advisors LLC now owns 21,911 shares of the semiconductor manufacturer’s stock valued at $5,406,000 after acquiring an additional 8,963 shares in the last quarter. Finally, Pendal Group Ltd raised its holdings in Broadcom by 1,193.0% in the third quarter. Pendal Group Ltd now owns 49,948 shares of the semiconductor manufacturer’s stock valued at $12,324,000 after acquiring an additional 46,085 shares in the last quarter. Institutional investors and hedge funds own 85.22% of the company’s stock.

Several analysts have weighed in on the stock. BidaskClub lowered shares of Broadcom from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. started coverage on shares of Broadcom in a research report on Thursday, November 8th. They set a “buy” rating and a $310.00 price target for the company. BMO Capital Markets upped their price target on shares of Broadcom from $230.00 to $250.00 and gave the stock a “market perform” rating in a research report on Friday. Craig Hallum reaffirmed a “buy” rating and issued a $300.00 price objective (down previously from $330.00) on shares of Broadcom in a report on Friday, September 7th. Finally, MKM Partners reduced their price objective on shares of Broadcom to $255.00 in a report on Friday, September 7th. Nine investment analysts have rated the stock with a hold rating and thirty-four have assigned a buy rating to the company’s stock. Broadcom presently has an average rating of “Buy” and a consensus price target of $288.33.

In related news, insider Kirsten M. Spears sold 1,194 shares of the firm’s stock in a transaction on Friday, September 28th. The stock was sold at an average price of $246.52, for a total value of $294,344.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $238.62, for a total value of $4,772,400.00. The disclosure for this sale can be found here. Insiders sold 61,194 shares of company stock valued at $14,266,145 over the last three months. 3.30% of the stock is owned by company insiders.

NASDAQ:AVGO traded up $1.32 during mid-day trading on Friday, reaching $228.56. The stock had a trading volume of 7,836,613 shares, compared to its average volume of 2,909,609. Broadcom Inc has a fifty-two week low of $197.46 and a fifty-two week high of $274.26. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.42 and a current ratio of 3.98. The company has a market capitalization of $93.95 billion, a P/E ratio of 12.14, a P/E/G ratio of 0.98 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, December 6th. The semiconductor manufacturer reported $5.85 EPS for the quarter, beating the consensus estimate of $5.58 by $0.27. Broadcom had a return on equity of 28.32% and a net margin of 58.80%. The company had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter last year, the company posted $4.59 earnings per share. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Broadcom Inc will post 18.45 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Wednesday, December 19th will be given a $2.65 dividend. This represents a $10.60 annualized dividend and a dividend yield of 4.64%. This is a boost from Broadcom’s previous quarterly dividend of $1.75. The ex-dividend date is Tuesday, December 18th. Broadcom’s dividend payout ratio is currently 37.17%.

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Broadcom 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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