Livforsakringsbolaget Skandia Omsesidigt Has $16.89 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 17.9% in the fourth quarter, Holdings Channel reports. The firm owned 15,132 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,300 shares during the period. Broadcom comprises about 1.6% of Livforsakringsbolaget Skandia Omsesidigt’s holdings, making the stock its 8th biggest position. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Broadcom were worth $16,891,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in AVGO. Cantor Fitzgerald Investment Advisor L.P boosted its position in Broadcom by 94.4% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 75,090 shares of the semiconductor manufacturer’s stock worth $47,283,000 after purchasing an additional 36,458 shares during the period. Fairfield Bush & CO. boosted its position in shares of Broadcom by 2.6% in the first quarter. Fairfield Bush & CO. now owns 4,945 shares of the semiconductor manufacturer’s stock valued at $3,114,000 after acquiring an additional 123 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Broadcom by 20.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 509,603 shares of the semiconductor manufacturer’s stock valued at $320,887,000 after acquiring an additional 87,945 shares during the period. Loomis Sayles & Co. L P boosted its position in shares of Broadcom by 1.1% in the first quarter. Loomis Sayles & Co. L P now owns 40,357 shares of the semiconductor manufacturer’s stock valued at $25,412,000 after acquiring an additional 420 shares during the period. Finally, Ergoteles LLC bought a new stake in shares of Broadcom in the first quarter valued at approximately $1,095,000. Institutional investors own 76.43% of the company’s stock.

Insider Activity

In other news, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the sale, the director now directly owns 4,643 shares in the company, valued at $5,991,048.62. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the sale, the director now directly owns 4,643 shares in the company, valued at $5,991,048.62. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the sale, the director now owns 45 shares of the company’s stock, valued at $62,465.85. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,920 shares of company stock worth $40,306,667. 2.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Susquehanna increased their price objective on Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research report on Wednesday, February 28th. UBS Group increased their price objective on Broadcom to $1,480.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Oppenheimer reissued an “outperform” rating and issued a $1,500.00 price objective (up from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Mizuho increased their price objective on Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a research report on Monday, April 8th. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and a consensus price target of $1,285.41.

Broadcom Price Performance

Broadcom stock traded down $46.43 during mid-day trading on Wednesday, hitting $1,282.63. 2,469,884 shares of the company were exchanged, compared to its average volume of 2,954,472. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. The business has a fifty day moving average of $1,306.49 and a 200 day moving average of $1,114.01. Broadcom Inc. has a 1-year low of $601.29 and a 1-year high of $1,438.17. The company has a market capitalization of $594.40 billion, a PE ratio of 47.95, a price-to-earnings-growth ratio of 2.67 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The firm had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. During the same period in the prior year, the company posted $9.83 earnings per share. The business’s revenue for the quarter was up 34.2% compared to the same quarter last year. As a group, sell-side analysts expect that Broadcom Inc. will post 35.95 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a dividend of $5.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.64%. Broadcom’s dividend payout ratio is currently 77.84%.

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.