Mirabaud & Cie SA Reduces Position in Broadcom Inc. (NASDAQ:AVGO)

Mirabaud & Cie SA cut its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 13.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,939 shares of the semiconductor manufacturer’s stock after selling 4,270 shares during the period. Broadcom makes up 2.0% of Mirabaud & Cie SA’s portfolio, making the stock its 12th largest holding. Mirabaud & Cie SA’s holdings in Broadcom were worth $6,246,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in AVGO. State Street Corp boosted its position in Broadcom by 948.5% in the 3rd quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock valued at $31,814,902,000 after buying an additional 166,844,263 shares during the period. Geode Capital Management LLC boosted its position in Broadcom by 976.6% in the 3rd quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock valued at $17,055,760,000 after buying an additional 89,975,941 shares during the period. FMR LLC boosted its position in Broadcom by 1,121.3% in the 3rd quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock valued at $15,594,088,000 after buying an additional 82,998,328 shares during the period. Jennison Associates LLC boosted its position in Broadcom by 842.4% in the 3rd quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock valued at $6,209,758,000 after buying an additional 32,178,542 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Broadcom by 975.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer’s stock valued at $5,833,894,000 after buying an additional 30,674,902 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AVGO. Jefferies Financial Group boosted their price objective on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. JPMorgan Chase & Co. upped their price target on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $240.00 price target on shares of Broadcom in a research report on Wednesday, December 11th. Finally, Mizuho upped their price target on shares of Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and a consensus price target of $225.83.

Insider Activity

In related news, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the transaction, the director now directly owns 30,450 shares in the company, valued at approximately $7,308,000. The trade was a 17.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 40,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the transaction, the insider now owns 696,730 shares in the company, valued at $161,627,425.40. The trade was a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock worth $44,964,800 over the last 90 days. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Down 0.3 %

AVGO stock opened at $240.28 on Friday. The firm has a market cap of $1.13 trillion, a PE ratio of 195.99, a P/E/G ratio of 2.51 and a beta of 1.03. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The firm’s fifty day moving average is $205.81 and its 200 day moving average is $179.64. Broadcom Inc. has a one year low of $117.43 and a one year high of $251.88.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter last year, the business earned $0.98 earnings per share. The company’s revenue for the quarter was up 51.2% compared to the same quarter last year. On average, research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a $0.59 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 annualized dividend and a dividend yield of 0.98%. Broadcom’s dividend payout ratio (DPR) is 192.50%.

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.