BI Asset Management Fondsmaeglerselskab A S Trims Holdings in Broadcom Inc. $AVGO

Key Points

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BI Asset Management Fondsmaeglerselskab A S decreased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 7.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 779,634 shares of the semiconductor manufacturer's stock after selling 61,978 shares during the period. Broadcom accounts for about 1.5% of BI Asset Management Fondsmaeglerselskab A S's holdings, making the stock its 11th largest holding. BI Asset Management Fondsmaeglerselskab A S's holdings in Broadcom were worth $130,534,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. True Wealth Design LLC raised its position in shares of Broadcom by 7.2% in the 4th quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock worth $165,000 after acquiring an additional 48 shares in the last quarter. Fulton Breakefield Broenniman LLC increased its stake in shares of Broadcom by 2.4% in the 1st quarter. Fulton Breakefield Broenniman LLC now owns 2,130 shares of the semiconductor manufacturer's stock worth $357,000 after acquiring an additional 50 shares in the last quarter. American Financial Advisors LLC lifted its position in Broadcom by 3.8% during the 1st quarter. American Financial Advisors LLC now owns 1,432 shares of the semiconductor manufacturer's stock valued at $240,000 after acquiring an additional 52 shares during the period. GS Investments Inc. boosted its stake in Broadcom by 0.5% during the first quarter. GS Investments Inc. now owns 11,397 shares of the semiconductor manufacturer's stock worth $1,908,000 after acquiring an additional 52 shares in the last quarter. Finally, FCA Corp TX boosted its stake in Broadcom by 0.5% during the first quarter. FCA Corp TX now owns 10,846 shares of the semiconductor manufacturer's stock worth $1,816,000 after acquiring an additional 54 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Transactions at Broadcom

In related news, CEO Hock E. Tan sold 117,758 shares of the stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $252.91, for a total transaction of $29,782,175.78. Following the completion of the sale, the chief executive officer owned 1,014,152 shares in the company, valued at approximately $256,489,182.32. This trade represents a 10.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 50,000 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $253.28, for a total value of $12,664,000.00. Following the completion of the transaction, the insider directly owned 415,956 shares in the company, valued at approximately $105,353,335.68. This represents a 10.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 830,516 shares of company stock valued at $217,286,457. 2.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Morgan Stanley set a $338.00 target price on shares of Broadcom and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Seaport Res Ptn upgraded shares of Broadcom to a "strong-buy" rating in a research note on Wednesday, April 30th. Rosenblatt Securities increased their price objective on shares of Broadcom from $223.00 to $340.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Truist Financial set a $295.00 target price on shares of Broadcom and gave the stock a "buy" rating in a report on Friday, June 6th. Finally, UBS Group upped their target price on shares of Broadcom from $270.00 to $290.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. One equities research analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $295.96.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $305.76 on Tuesday. The company has a market capitalization of $1.44 trillion, a P/E ratio of 114.52, a P/E/G ratio of 2.18 and a beta of 1.15. Broadcom Inc. has a 1-year low of $134.90 and a 1-year high of $317.35. The firm's 50 day simple moving average is $279.50 and its two-hundred day simple moving average is $230.48. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $1.57 by $0.01. The company had revenue of $15 billion for the quarter, compared to analysts' expectations of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. Broadcom's revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $10.96 EPS. Research analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were paid a $0.59 dividend. The ex-dividend date of this dividend was Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.8%. Broadcom's dividend payout ratio is 88.39%.

About Broadcom

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.

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