Livforsakringsbolaget Skandia Omsesidigt Grows Stock Position in Broadcom Inc. $AVGO

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Broadcom Inc. by 18.2% during the second quarter, making it the firm's 5th largest position at approximately $72.27 million.
• Broadcom's CEO, Hock E. Tan, sold 148,154 shares for over $49 million, representing a 15.21% decrease in his ownership following the transaction.
• Wall Street analysts have shown a positive outlook on Broadcom, with the stock receiving mostly Buy ratings and an average price target increase to $356.48.

Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 18.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 262,163 shares of the semiconductor manufacturer's stock after purchasing an additional 40,400 shares during the period. Broadcom makes up about 3.4% of Livforsakringsbolaget Skandia Omsesidigt's portfolio, making the stock its 5th biggest holding. Livforsakringsbolaget Skandia Omsesidigt's holdings in Broadcom were worth $72,265,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Matthew Goff Investment Advisor LLC acquired a new position in Broadcom in the 2nd quarter valued at $4,435,000. Kingstone Capital Partners Texas LLC acquired a new position in Broadcom in the 2nd quarter valued at $30,235,000. IFM Investors Pty Ltd raised its holdings in Broadcom by 4.1% in the 2nd quarter. IFM Investors Pty Ltd now owns 876,992 shares of the semiconductor manufacturer's stock valued at $241,743,000 after acquiring an additional 34,251 shares in the last quarter. Grove Bank & Trust raised its holdings in Broadcom by 1.2% in the 2nd quarter. Grove Bank & Trust now owns 11,764 shares of the semiconductor manufacturer's stock valued at $3,243,000 after acquiring an additional 138 shares in the last quarter. Finally, Sky Investment Group LLC raised its holdings in Broadcom by 0.4% in the 2nd quarter. Sky Investment Group LLC now owns 11,005 shares of the semiconductor manufacturer's stock valued at $3,034,000 after acquiring an additional 48 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 3,893 shares of the company's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total transaction of $1,354,063.26. Following the completion of the transaction, the insider owned 25,295 shares of the company's stock, valued at $8,798,106.90. This represents a 13.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Hock E. Tan sold 148,154 shares of the company's stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $336.67, for a total value of $49,879,007.18. Following the transaction, the chief executive officer directly owned 825,998 shares of the company's stock, valued at $278,088,746.66. The trade was a 15.21% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders bought 3,550 shares of company stock valued at $1,227,869 and sold 714,172 shares valued at $204,311,160. Company insiders own 2.00% of the company's stock.

Broadcom Stock Performance

Shares of AVGO traded down $0.12 on Tuesday, reaching $338.67. 10,082,009 shares of the company's stock traded hands, compared to its average volume of 26,376,787. The stock has a market cap of $1.60 trillion, a PE ratio of 86.59, a PEG ratio of 1.91 and a beta of 1.16. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $374.23. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. The stock's 50 day simple moving average is $309.32 and its two-hundred day simple moving average is $249.20.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.03. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The company had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. During the same quarter last year, the company earned $1.24 earnings per share. The firm's quarterly revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. On average, analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 22nd will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, September 22nd. Broadcom's dividend payout ratio (DPR) is presently 60.20%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Erste Group Bank upgraded Broadcom from a "hold" rating to a "buy" rating in a research note on Thursday, June 5th. Cowen reiterated a "buy" rating on shares of Broadcom in a research note on Friday, June 6th. Sanford C. Bernstein lifted their price target on Broadcom from $295.00 to $400.00 and gave the company an "outperform" rating in a research note on Friday, September 5th. UBS Group lifted their price target on Broadcom from $290.00 to $345.00 and gave the company a "buy" rating in a research note on Monday, August 25th. Finally, HSBC upgraded Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price target on the stock in a research note on Tuesday, June 24th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $356.48.

Broadcom Company 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.