Generali Asset Management SPA SGR Acquires New Position in Broadcom Inc. (NASDAQ:AVGO)

Generali Asset Management SPA SGR bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, Holdings Channel.com reports. The fund bought 229,845 shares of the semiconductor manufacturer’s stock, valued at approximately $53,287,000. Broadcom comprises approximately 1.4% of Generali Asset Management SPA SGR’s investment portfolio, making the stock its 12th largest position.

Several other hedge funds have also recently added to or reduced their stakes in AVGO. Swedbank AB increased its holdings in Broadcom by 858.7% during the 3rd quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock valued at $3,168,798,000 after acquiring an additional 16,453,718 shares in the last quarter. Howard Capital Management Group LLC increased its holdings in Broadcom by 2,219.8% during the 3rd quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock valued at $524,000 after acquiring an additional 2,908 shares in the last quarter. Pettinga Financial Advisors LLC increased its holdings in Broadcom by 896.9% during the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,911 shares of the semiconductor manufacturer’s stock valued at $502,000 after acquiring an additional 2,619 shares in the last quarter. Impax Asset Management Group plc increased its holdings in Broadcom by 884.6% during the 3rd quarter. Impax Asset Management Group plc now owns 119,529 shares of the semiconductor manufacturer’s stock valued at $20,619,000 after acquiring an additional 107,389 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Broadcom by 1,019.4% during the 3rd quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer’s stock valued at $1,238,966,000 after acquiring an additional 6,540,800 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadcom

In other Broadcom news, CFO Kirsten M. Spears sold 12,570 shares of Broadcom stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $229.62, for a total transaction of $2,886,323.40. Following the transaction, the chief financial officer now directly owns 325,443 shares of the company’s stock, valued at $74,728,221.66. The trade was a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 20,168 shares of the business’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the transaction, the insider now directly owns 321,660 shares in the company, valued at approximately $76,809,191.40. The trade was a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 184,738 shares of company stock valued at $43,395,200 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Broadcom Trading Down 0.5 %

Shares of AVGO stock opened at $194.50 on Tuesday. The stock has a market cap of $914.53 billion, a price-to-earnings ratio of 158.65, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. The firm’s 50 day moving average price is $217.28 and its two-hundred day moving average price is $194.43.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be given a dividend of $0.59 per share. The ex-dividend date is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.21%. Broadcom’s dividend payout ratio (DPR) is 113.46%.

Analysts Set New Price Targets

AVGO has been the subject of several recent research reports. KeyCorp raised their target price on shares of Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 price target on shares of Broadcom in a report on Friday, March 7th. Morgan Stanley lifted their price target on shares of Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. TD Cowen lifted their price target on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Truist Financial lifted their price target on shares of Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $231.48.

About Broadcom

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.