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

Swedbank AB lifted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 858.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,369,841 shares of the semiconductor manufacturer’s stock after buying an additional 16,453,718 shares during the period. Broadcom comprises approximately 4.0% of Swedbank AB’s portfolio, making the stock its 4th biggest position. Swedbank AB owned about 0.39% of Broadcom worth $3,168,798,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. AXA S.A. boosted its position in Broadcom by 2.7% during the second quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer’s stock valued at $467,334,000 after purchasing an additional 7,608 shares during the last quarter. Renaissance Investment Group LLC boosted its position in Broadcom by 851.2% during the third quarter. Renaissance Investment Group LLC now owns 120,969 shares of the semiconductor manufacturer’s stock valued at $20,867,000 after purchasing an additional 108,251 shares during the last quarter. MRA Advisory Group boosted its position in Broadcom by 954.1% during the third quarter. MRA Advisory Group now owns 9,455 shares of the semiconductor manufacturer’s stock valued at $1,631,000 after purchasing an additional 8,558 shares during the last quarter. Red Spruce Capital LLC boosted its position in Broadcom by 854.9% during the third quarter. Red Spruce Capital LLC now owns 32,915 shares of the semiconductor manufacturer’s stock valued at $5,678,000 after purchasing an additional 29,468 shares during the last quarter. Finally, Ensign Peak Advisors Inc boosted its position in Broadcom by 19.1% during the second quarter. Ensign Peak Advisors Inc now owns 524,537 shares of the semiconductor manufacturer’s stock valued at $842,160,000 after purchasing an additional 84,196 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several recent research reports. UBS Group cut their target price on Broadcom from $173.50 to $170.00 and set a “buy” rating on the stock in a report on Monday, September 9th. Truist Financial raised their target price on Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. raised their target price on Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Oppenheimer cut their target price on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday, July 16th. Finally, Mizuho lifted their price objective on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday. Two research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $191.54.

Broadcom Trading Down 3.5 %

AVGO stock opened at $175.98 on Wednesday. Broadcom Inc. has a 1-year low of $81.83 and a 1-year high of $186.42. The firm has a market cap of $819.17 billion, a P/E ratio of 7.57, a P/E/G ratio of 2.99 and a beta of 1.17. The business’s 50 day moving average is $164.36 and its 200-day moving average is $152.27. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same period in the prior year, the company posted $0.95 EPS. The company’s revenue was up 47.3% compared to the same quarter last year. Equities analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a $0.53 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.20%. The ex-dividend date was Thursday, September 19th. Broadcom’s dividend payout ratio is currently 9.12%.

Insider Buying and Selling

In related news, insider Mark David Brazeal sold 20,280 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the sale, the insider now directly owns 399,460 shares in the company, valued at $70,744,366. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Mark David Brazeal sold 20,280 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the sale, the insider now directly owns 399,460 shares in the company, valued at $70,744,366. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gayla J. Delly sold 750 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total value of $130,897.50. Following the sale, the director now owns 34,750 shares in the company, valued at approximately $6,064,917.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 295,130 shares of company stock worth $50,646,622 in the last three months. Insiders own 2.00% of the company’s stock.

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.