Broadcom Inc. (NASDAQ:AVGO) is Geode Capital Management LLC’s 8th Largest Position

Geode Capital Management LLC lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 976.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 99,188,826 shares of the semiconductor manufacturer’s stock after acquiring an additional 89,975,941 shares during the quarter. Broadcom accounts for about 1.4% of Geode Capital Management LLC’s investment portfolio, making the stock its 8th biggest position. Geode Capital Management LLC owned approximately 2.12% of Broadcom worth $17,055,760,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of AVGO. Foyston Gordon & Payne Inc boosted its stake in Broadcom by 791.2% during the 3rd quarter. Foyston Gordon & Payne Inc now owns 98,527 shares of the semiconductor manufacturer’s stock valued at $16,996,000 after acquiring an additional 87,471 shares during the last quarter. MidWestOne Financial Group Inc. raised its stake in shares of Broadcom by 942.8% in the 3rd quarter. MidWestOne Financial Group Inc. now owns 29,396 shares of the semiconductor manufacturer’s stock valued at $5,071,000 after purchasing an additional 26,577 shares in the last quarter. Insight Inv LLC lifted its position in shares of Broadcom by 900.0% during the third quarter. Insight Inv LLC now owns 1,950 shares of the semiconductor manufacturer’s stock worth $336,000 after purchasing an additional 1,755 shares during the last quarter. Savoie Capital LLC grew its stake in Broadcom by 900.0% in the third quarter. Savoie Capital LLC now owns 79,290 shares of the semiconductor manufacturer’s stock worth $13,678,000 after purchasing an additional 71,361 shares in the last quarter. Finally, Goodman Advisory Group LLC increased its holdings in Broadcom by 981.7% in the third quarter. Goodman Advisory Group LLC now owns 10,428 shares of the semiconductor manufacturer’s stock valued at $1,799,000 after buying an additional 9,464 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insiders Place Their Bets

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the transaction, the chief executive officer now directly owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. The trade was a 3.62 % 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 on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total value of $4,240,404.00. Following the transaction, the insider now owns 753,280 shares in the company, valued at $126,754,425.60. This represents a 3.24 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. William Blair initiated coverage on Broadcom in a report on Wednesday, September 18th. They set an “outperform” rating on the stock. The Goldman Sachs Group raised their price objective 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 shares of Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Rosenblatt Securities lowered their price objective on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a research report on Friday, September 6th. Finally, Truist Financial raised their target price on shares of Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $195.96.

Broadcom Stock Down 0.3 %

AVGO opened at $178.94 on Tuesday. 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 company has a market capitalization of $835.75 billion, a PE ratio of 155.60, a P/E/G ratio of 2.11 and a beta of 1.13. The stock’s fifty day moving average is $173.14 and its 200-day moving average is $163.05. Broadcom Inc. has a one year low of $95.61 and a one year high of $186.42.

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.