Broadcom Inc. $AVGO is Capital World Investors’ Largest Position

Capital World Investors decreased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 8.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 135,586,932 shares of the semiconductor manufacturer’s stock after selling 12,713,939 shares during the period. Broadcom accounts for approximately 6.1% of Capital World Investors’ portfolio, making the stock its biggest position. Capital World Investors’ holdings in Broadcom were worth $44,730,673,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of AVGO. Longfellow Investment Management Co. LLC acquired a new stake in shares of Broadcom in the 2nd quarter valued at $27,000. Teachers Insurance & Annuity Association of America acquired a new position in shares of Broadcom during the second quarter worth $28,000. New England Capital Financial Advisors LLC purchased a new position in Broadcom in the second quarter valued at $31,000. JCIC Asset Management Inc. acquired a new stake in Broadcom in the third quarter valued at $31,000. Finally, Manning & Napier Advisors LLC acquired a new stake in Broadcom in the third quarter valued at $34,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Up 4.6%

Shares of NASDAQ:AVGO opened at $345.75 on Tuesday. The stock has a 50-day simple moving average of $333.68 and a 200-day simple moving average of $343.89. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.73 and a current ratio of 1.90. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $414.61. The stock has a market capitalization of $1.64 trillion, a P/E ratio of 67.53, a PEG ratio of 0.77 and a beta of 1.22.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.02. The firm had revenue of $19.31 billion for the quarter, compared to analyst estimates of $19.10 billion. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The firm’s revenue was up 29.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.60 EPS. Equities analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Monday, March 23rd. Broadcom’s payout ratio is currently 50.78%.

Insider Buying and Selling at Broadcom

In other news, CFO Kirsten M. Spears sold 30,000 shares of the firm’s stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $347.82, for a total transaction of $10,434,600.00. Following the transaction, the chief financial officer directly owned 277,237 shares of the company’s stock, valued at approximately $96,428,573.34. This trade represents a 9.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 38,281 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $327.65, for a total value of $12,542,769.65. Following the sale, the insider directly owned 266,494 shares in the company, valued at approximately $87,316,759.10. The trade was a 12.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 458,785 shares of company stock worth $155,508,157 over the last ninety days. Company insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on AVGO shares. Robert W. Baird set a $420.00 price objective on Broadcom in a report on Friday, December 12th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $475.00 price target (up from $400.00) on shares of Broadcom in a report on Friday, December 12th. Zacks Research downgraded shares of Broadcom from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 4th. TD Cowen restated a “buy” rating on shares of Broadcom in a research note on Friday, December 12th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $450.00 target price on shares of Broadcom in a research note on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $435.30.

About Broadcom

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.