National Pension Service raised its position in Broadcom Inc (NASDAQ:AVGO) by 3.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 471,487 shares of the semiconductor manufacturer’s stock after purchasing an additional 14,750 shares during the quarter. National Pension Service owned about 0.12% of Broadcom worth $148,999,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of AVGO. Capital International Investors boosted its holdings in Broadcom by 7.6% in the 4th quarter. Capital International Investors now owns 29,539,532 shares of the semiconductor manufacturer’s stock valued at $9,335,080,000 after purchasing an additional 2,089,628 shares during the last quarter. Investec Asset Management LTD boosted its holdings in Broadcom by 107.3% in the 4th quarter. Investec Asset Management LTD now owns 1,053,905 shares of the semiconductor manufacturer’s stock valued at $333,055,000 after purchasing an additional 545,500 shares during the last quarter. Amundi Pioneer Asset Management Inc. boosted its holdings in Broadcom by 35.0% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 1,907,456 shares of the semiconductor manufacturer’s stock valued at $602,751,000 after purchasing an additional 494,761 shares during the last quarter. GQG Partners LLC acquired a new position in Broadcom in the 4th quarter valued at about $135,646,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in Broadcom in the 4th quarter valued at about $133,380,000. Institutional investors own 83.02% of the company’s stock.
In other news, CEO Hock E. Tan sold 62,500 shares of the company’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $313.91, for a total value of $19,619,375.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders sold 420,938 shares of company stock worth $121,050,177. Insiders own 3.30% of the company’s stock.
Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, March 12th. The semiconductor manufacturer reported $5.25 EPS for the quarter, missing the Zacks’ consensus estimate of $5.33 by ($0.08). Broadcom had a net margin of 11.64% and a return on equity of 69.53%. The firm had revenue of $5.86 billion during the quarter, compared to analysts’ expectations of $5.99 billion. During the same period in the prior year, the company posted $5.55 earnings per share. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. Analysts forecast that Broadcom Inc will post 18.07 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd will be given a $3.25 dividend. This represents a $13.00 dividend on an annualized basis and a dividend yield of 5.64%. The ex-dividend date is Friday, March 20th. Broadcom’s dividend payout ratio is presently 74.67%.
A number of equities research analysts have recently issued reports on AVGO shares. Argus reissued a “buy” rating and issued a $385.00 price target on shares of Broadcom in a research note on Monday, December 16th. BMO Capital Markets raised shares of Broadcom from a “market perform” rating to an “outperform” rating and set a $330.00 price target on the stock in a research note on Monday, March 16th. SunTrust Banks reduced their price target on shares of Broadcom from $366.00 to $300.00 and set a “buy” rating on the stock in a research note on Friday, March 13th. They noted that the move was a valuation call. Susquehanna Bancshares reissued a “buy” rating and issued a $345.00 price target on shares of Broadcom in a research note on Wednesday, December 11th. Finally, BidaskClub raised shares of Broadcom from a “sell” rating to a “hold” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $313.81.
Broadcom Company Profile
Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
Further Reading: Understanding debt-to-equity ratio in fundamental analysis
Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc (NASDAQ:AVGO).
Receive News & Ratings for Broadcom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom and related companies with MarketBeat.com's FREE daily email newsletter.