National Pension Service Increases Position in Broadcom Inc. (NASDAQ:AVGO)

National Pension Service raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 8.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 713,232 shares of the semiconductor manufacturer’s stock after purchasing an additional 58,173 shares during the period. Broadcom comprises 1.1% of National Pension Service’s holdings, making the stock its 11th largest position. National Pension Service’s holdings in Broadcom were worth $796,145,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in AVGO. Arlington Capital Management Inc. acquired a new stake in Broadcom in the 4th quarter worth about $1,302,000. Bogart Wealth LLC boosted its holdings in shares of Broadcom by 9.2% during the 4th quarter. Bogart Wealth LLC now owns 298 shares of the semiconductor manufacturer’s stock worth $333,000 after purchasing an additional 25 shares during the last quarter. RMR Wealth Builders grew its position in shares of Broadcom by 3.0% in the fourth quarter. RMR Wealth Builders now owns 6,550 shares of the semiconductor manufacturer’s stock valued at $7,311,000 after purchasing an additional 188 shares in the last quarter. Cullen Frost Bankers Inc. increased its holdings in shares of Broadcom by 3.1% in the fourth quarter. Cullen Frost Bankers Inc. now owns 35,767 shares of the semiconductor manufacturer’s stock valued at $39,925,000 after purchasing an additional 1,062 shares during the last quarter. Finally, Evexia Wealth LLC lifted its position in Broadcom by 0.8% during the fourth quarter. Evexia Wealth LLC now owns 6,024 shares of the semiconductor manufacturer’s stock worth $7,376,000 after buying an additional 46 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of recent analyst reports. Mizuho raised their price target on shares of Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a research report on Monday, April 8th. UBS Group boosted their price objective on Broadcom to $1,480.00 and gave the company a “buy” rating in a report on Monday, February 26th. Barclays raised their target price on Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. Finally, Evercore ISI started coverage on shares of Broadcom in a research report on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and an average price target of $1,285.41.

Broadcom Stock Down 1.3 %

NASDAQ:AVGO traded down $17.69 during mid-day trading on Thursday, hitting $1,307.68. The company had a trading volume of 361,514 shares, compared to its average volume of 2,827,270. Broadcom Inc. has a 1 year low of $617.99 and a 1 year high of $1,438.17. The firm has a market capitalization of $606.01 billion, a price-to-earnings ratio of 48.58, a PEG ratio of 2.60 and a beta of 1.25. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. The business has a fifty day simple moving average of $1,308.82 and a 200-day simple moving average of $1,157.75.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, topping the consensus estimate of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The business had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. During the same quarter in the prior year, the company posted $9.83 earnings per share. The company’s quarterly revenue was up 34.2% compared to the same quarter last year. Equities analysts forecast that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a dividend of $5.25 per share. This represents a $21.00 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is currently 77.84%.

Insider Transactions at Broadcom

In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the transaction, the director now owns 4,643 shares in the company, valued at approximately $5,991,048.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the sale, the director now owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kenneth Hao sold 9,160 shares of Broadcom stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the transaction, the director now owns 45 shares in the company, valued at $62,465.85. The disclosure for this sale can be found here. Insiders sold a total of 29,920 shares of company stock valued at $40,306,667 over the last quarter. Company insiders own 2.00% of the company’s stock.

Broadcom 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.