Broadcom Inc. $AVGO is Sienna Gestion’s 4th Largest Position

Sienna Gestion decreased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 9.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 138,296 shares of the semiconductor manufacturer’s stock after selling 15,033 shares during the quarter. Broadcom comprises 2.9% of Sienna Gestion’s investment portfolio, making the stock its 4th largest holding. Sienna Gestion’s holdings in Broadcom were worth $41,599,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of AVGO. Vanguard Group Inc. raised its holdings in shares of Broadcom by 1.3% in the second quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer’s stock valued at $133,261,046,000 after buying an additional 6,222,802 shares during the last quarter. State Street Corp boosted its stake in shares of Broadcom by 0.5% during the second quarter. State Street Corp now owns 185,276,987 shares of the semiconductor manufacturer’s stock worth $51,071,601,000 after buying an additional 873,963 shares during the period. Geode Capital Management LLC grew its holdings in shares of Broadcom by 2.1% during the second quarter. Geode Capital Management LLC now owns 108,610,718 shares of the semiconductor manufacturer’s stock worth $29,827,649,000 after buying an additional 2,226,585 shares during the last quarter. Norges Bank acquired a new position in Broadcom in the 2nd quarter valued at about $18,579,549,000. Finally, Invesco Ltd. increased its position in Broadcom by 8.4% in the 2nd quarter. Invesco Ltd. now owns 38,449,630 shares of the semiconductor manufacturer’s stock valued at $10,598,641,000 after acquiring an additional 2,978,768 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the subject of a number of recent research reports. Royal Bank Of Canada decreased their price objective on Broadcom from $370.00 to $340.00 and set a “sector perform” rating for the company in a research report on Monday, March 2nd. Morgan Stanley boosted their target price on Broadcom from $462.00 to $470.00 and gave the company an “overweight” rating in a report on Friday. Zacks Research downgraded Broadcom from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 4th. Benchmark reiterated a “buy” rating and issued a $485.00 price objective on shares of Broadcom in a research report on Thursday. Finally, Wolfe Research upgraded shares of Broadcom from a “peer perform” rating to an “outperform” rating and set a $400.00 price objective for the company in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $435.30.

Insider Transactions at Broadcom

In related news, insider Mark David Brazeal sold 30,000 shares of the business’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $347.12, for a total transaction of $10,413,600.00. Following the sale, the insider owned 210,573 shares of the company’s stock, valued at approximately $73,094,099.76. The trade was a 12.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Hock E. Tan sold 70,000 shares of the company’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $347.30, for a total transaction of $24,311,000.00. Following the transaction, the chief executive officer owned 132,836 shares in the company, valued at $46,133,942.80. The trade was a 34.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 458,785 shares of company stock valued at $155,508,157. 2.00% of the stock is owned by company insiders.

Broadcom Stock Down 0.5%

Broadcom stock opened at $331.03 on Monday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.90 and a quick ratio of 1.73. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $414.61. The company has a market cap of $1.57 trillion, a PE ratio of 64.65, a price-to-earnings-growth ratio of 0.77 and a beta of 1.22. The stock’s 50 day moving average price is $333.75 and its 200 day moving average price is $343.49.

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

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders 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 dividend yield of 0.8%. The ex-dividend date is Monday, March 23rd. Broadcom’s dividend payout ratio (DPR) is currently 50.78%.

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.