Broadcom Inc. (NASDAQ:AVGO) is Saturna Capital Corp’s 5th Largest Position

Saturna Capital Corp grew its stake in Broadcom Inc. (NASDAQ:AVGO) by 4.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,530,665 shares of the semiconductor manufacturer’s stock after acquiring an additional 59,650 shares during the quarter. Broadcom comprises about 4.8% of Saturna Capital Corp’s portfolio, making the stock its 5th biggest position. Saturna Capital Corp’s holdings in Broadcom were worth $354,869,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in AVGO. Swedbank AB boosted its position in shares of Broadcom by 858.7% in the 3rd quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock worth $3,168,798,000 after purchasing an additional 16,453,718 shares in the last quarter. Howard Capital Management Group LLC raised its stake in Broadcom by 2,219.8% in the third quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock valued at $524,000 after buying an additional 2,908 shares during the last quarter. Pettinga Financial Advisors LLC boosted its holdings in Broadcom by 896.9% in the third quarter. Pettinga Financial Advisors LLC now owns 2,911 shares of the semiconductor manufacturer’s stock worth $502,000 after acquiring an additional 2,619 shares in the last quarter. Impax Asset Management Group plc grew its stake in shares of Broadcom by 884.6% during the third quarter. Impax Asset Management Group plc now owns 119,529 shares of the semiconductor manufacturer’s stock worth $20,619,000 after acquiring an additional 107,389 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Broadcom by 1,019.4% during the third 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.

Broadcom Price Performance

NASDAQ:AVGO opened at $190.09 on Wednesday. The firm has a market cap of $893.79 billion, a P/E ratio of 155.05, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The stock has a 50 day moving average of $220.42 and a two-hundred day moving average of $193.44. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.39 by $0.03. The firm had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.98 earnings per share. On average, analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s dividend payout ratio is currently 113.46%.

Insider Buying and Selling

In related news, insider Mark David Brazeal sold 20,168 shares of Broadcom stock in a transaction that occurred 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 owns 321,660 shares in the company, valued at approximately $76,809,191.40. This trade represents a 5.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the sale, the director now owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. William Blair restated an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. Deutsche Bank Aktiengesellschaft lifted their target price on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Rosenblatt Securities restated a “buy” rating and set a $250.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Mizuho cut their price objective on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th. Finally, Evercore ISI boosted their target price on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $231.48.

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.