Broadcom Inc. $AVGO Stock Holdings Cut by Swedbank AB

Swedbank AB lessened its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 9.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,762,596 shares of the semiconductor manufacturer’s stock after selling 1,304,100 shares during the quarter. Broadcom accounts for about 4.3% of Swedbank AB’s holdings, making the stock its 4th biggest holding. Swedbank AB owned approximately 0.27% of Broadcom worth $4,210,508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in Broadcom in the 2nd quarter valued at approximately $18,579,549,000. Vanguard Group Inc. lifted its stake in Broadcom by 1.3% during the second quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer’s stock worth $133,261,046,000 after purchasing an additional 6,222,802 shares in the last quarter. Edgewood Management LLC purchased a new position in shares of Broadcom during the second quarter worth $1,571,438,000. Alliancebernstein L.P. grew its stake in shares of Broadcom by 16.0% in the first quarter. Alliancebernstein L.P. now owns 29,513,814 shares of the semiconductor manufacturer’s stock valued at $4,941,498,000 after buying an additional 4,077,910 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Broadcom by 115.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,017,340 shares of the semiconductor manufacturer’s stock valued at $1,658,680,000 after buying an additional 3,224,739 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Henry Samueli sold 320,316 shares of the firm’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $400.53, for a total transaction of $128,296,167.48. Following the sale, the director owned 37,326,540 shares of the company’s stock, valued at approximately $14,950,399,066.20. This trade represents a 0.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charlie B. Kawwas sold 1,928 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $327.80, for a total value of $631,998.40. Following the sale, the insider owned 23,582 shares of the company’s stock, valued at approximately $7,730,179.60. The trade was a 7.56% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 524,780 shares of company stock worth $195,499,150. 2.00% of the stock is currently owned by company insiders.

Broadcom Trading Up 0.5%

NASDAQ AVGO opened at $352.13 on Friday. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $414.61. The firm has a 50 day moving average of $362.74 and a two-hundred day moving average of $323.95. The company has a quick ratio of 1.58, a current ratio of 1.71 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $1.67 trillion, a PE ratio of 73.98, a price-to-earnings-growth ratio of 1.20 and a beta of 1.19.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.08. The business had revenue of $18.02 billion during the quarter, compared to analysts’ expectations of $17.46 billion. Broadcom had a net margin of 36.20% and a return on equity of 37.45%. The company’s revenue for the quarter was up 28.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.42 EPS. As a group, research analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd will be issued a dividend of $0.65 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Monday, December 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. Broadcom’s dividend payout ratio (DPR) is presently 54.62%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. UBS Group set a $475.00 target price on Broadcom and gave the company a “buy” rating in a report on Monday, December 15th. Benchmark raised their price objective on shares of Broadcom from $385.00 to $485.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Morgan Stanley lifted their price objective on shares of Broadcom from $443.00 to $462.00 and gave the company an “overweight” rating in a report on Friday, December 12th. Mizuho increased their target price on shares of Broadcom from $435.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Finally, Robert W. Baird set a $420.00 price target on shares of Broadcom in a research note on Friday, December 12th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $436.33.

Broadcom Company Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.