Capital International Investors Raises Holdings in Broadcom Inc (NASDAQ:AVGO)

Capital International Investors boosted its stake in shares of Broadcom Inc (NASDAQ:AVGO) by 7.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 29,539,532 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,089,628 shares during the quarter. Broadcom makes up about 3.2% of Capital International Investors’ investment portfolio, making the stock its 2nd biggest position. Capital International Investors owned 0.07% of Broadcom worth $9,335,080,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Great Lakes Advisors LLC increased its holdings in Broadcom by 149.1% during the 4th quarter. Great Lakes Advisors LLC now owns 6,043 shares of the semiconductor manufacturer’s stock worth $1,910,000 after purchasing an additional 3,617 shares during the period. Meeder Asset Management Inc. increased its holdings in Broadcom by 3.8% during the 4th quarter. Meeder Asset Management Inc. now owns 33,010 shares of the semiconductor manufacturer’s stock worth $10,432,000 after purchasing an additional 1,202 shares during the period. Ameritas Investment Company LLC increased its holdings in Broadcom by 15.6% during the 4th quarter. Ameritas Investment Company LLC now owns 2,283 shares of the semiconductor manufacturer’s stock worth $722,000 after purchasing an additional 308 shares during the period. Bay Rivers Group purchased a new stake in Broadcom during the 4th quarter worth about $1,414,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC increased its holdings in Broadcom by 3.0% during the 4th quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,425 shares of the semiconductor manufacturer’s stock worth $449,000 after purchasing an additional 42 shares during the period. 83.02% of the stock is currently owned by institutional investors.

In other Broadcom news, CEO Hock E. Tan sold 75,000 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $311.02, for a total transaction of $23,326,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders sold 420,938 shares of company stock valued at $121,050,177. Insiders own 3.30% of the company’s stock.

Shares of NASDAQ AVGO traded up $23.22 during trading hours on Thursday, reaching $240.77. The stock had a trading volume of 2,765,595 shares, compared to its average volume of 5,157,263. The firm has a market cap of $85.06 billion, a price-to-earnings ratio of 39.73, a PEG ratio of 1.13 and a beta of 0.87. The company has a current ratio of 1.56, a quick ratio of 1.44 and a debt-to-equity ratio of 1.58. Broadcom Inc has a fifty-two week low of $155.67 and a fifty-two week high of $331.58. The firm has a 50-day moving average of $271.75 and a 200-day moving average of $294.91.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, March 12th. The semiconductor manufacturer reported $5.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.08). The firm had revenue of $5.86 billion during the quarter, compared to analyst estimates of $5.99 billion. Broadcom had a net margin of 11.64% and a return on equity of 69.53%. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period last year, the company earned $5.55 earnings per share. On average, equities analysts predict that Broadcom Inc will post 18.07 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 23rd will be given a $3.25 dividend. The ex-dividend date of this dividend is Friday, March 20th. This represents a $13.00 dividend on an annualized basis and a dividend yield of 5.40%. Broadcom’s dividend payout ratio (DPR) is presently 74.67%.

Several equities research analysts have weighed in on the company. Robert W. Baird cut their price target on Broadcom from $400.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday, March 13th. Raymond James restated a “hold” rating on shares of Broadcom in a report on Thursday, December 12th. Barclays cut their price target on Broadcom from $360.00 to $320.00 and set an “overweight” rating on the stock in a report on Friday, March 13th. Argus restated a “buy” rating and set a $385.00 price target on shares of Broadcom in a report on Monday, December 16th. Finally, Craig Hallum restated a “buy” rating and set a $385.00 price target (up previously from $330.00) on shares of Broadcom in a report on Friday, December 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price 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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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