Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by AMF Tjanstepension AB

AMF Tjanstepension AB lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 11.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,129,101 shares of the semiconductor manufacturer’s stock after purchasing an additional 114,485 shares during the period. Broadcom comprises about 1.9% of AMF Tjanstepension AB’s investment portfolio, making the stock its 15th biggest holding. AMF Tjanstepension AB’s holdings in Broadcom were worth $261,847,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. River Global Investors LLP boosted its holdings in Broadcom by 5.6% in the fourth quarter. River Global Investors LLP now owns 133,066 shares of the semiconductor manufacturer’s stock worth $30,843,000 after purchasing an additional 7,069 shares during the period. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in shares of Broadcom during the fourth quarter worth $4,451,000. Banco Santander S.A. lifted its position in shares of Broadcom by 8.3% in the 4th quarter. Banco Santander S.A. now owns 282,623 shares of the semiconductor manufacturer’s stock worth $65,523,000 after buying an additional 21,753 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of Broadcom by 11.7% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,927,729 shares of the semiconductor manufacturer’s stock valued at $732,035,000 after buying an additional 307,194 shares during the period. Finally, Oak Hill Wealth Advisors LLC grew its position in shares of Broadcom by 200.0% during the 4th quarter. Oak Hill Wealth Advisors LLC now owns 3,660 shares of the semiconductor manufacturer’s stock valued at $849,000 after buying an additional 7,320 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Mizuho cut their price target on Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 target price on shares of Broadcom in a research note on Friday. Citigroup upped their price target on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Piper Sandler lifted their price objective on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Finally, Morgan Stanley upped their target price on shares of Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $231.48.

Insider Activity at Broadcom

In other news, Director Check Kian Low sold 48,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the sale, the director now owns 113,050 shares in the company, valued at $26,606,317.50. The trade was a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the transaction, the director now directly owns 46,400 shares of the company’s stock, valued at $10,655,296. This represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock worth $44,964,800 in the last quarter. 2.00% of the stock is owned by company insiders.

Broadcom Stock Performance

Shares of AVGO opened at $194.96 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The firm’s 50 day moving average is $222.28 and its 200-day moving average is $192.74. Broadcom Inc. has a 12-month low of $119.76 and a 12-month high of $251.88. The stock has a market capitalization of $913.85 billion, a P/E ratio of 159.02, a P/E/G ratio of 2.29 and a beta of 1.01.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the previous year, the business posted $0.98 earnings per share. The firm’s quarterly revenue was up 51.2% compared to the same quarter last year. Equities research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s dividend payout ratio is 191.87%.

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.