Broadcom Inc. $AVGO Shares Sold by Fjarde AP Fonden Fourth Swedish National Pension Fund

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its Broadcom stake by 0.7% in the fourth quarter, but still held 702,723 shares worth about $243.2 million. Broadcom remains the fund’s 8th-largest position and makes up 2.0% of its holdings.
• Broadcom’s latest quarterly results topped expectations, with EPS of $2.44 and revenue of $22.19 billion, while sales jumped 47.9% year over year. The company also announced a quarterly dividend of $0.65 per share, payable June 30.
• Analyst sentiment remains upbeat despite a post-earnings pullback, with several firms raising price targets and Bank of America lifting its target to $530 and keeping a Buy rating. Broadcom’s consensus rating is currently Moderate Buy, with an average price target of $490.13.

Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 0.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 702,723 shares of the semiconductor manufacturer's stock after selling 4,980 shares during the period. Broadcom comprises 2.0% of Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings, making the stock its 8th largest position. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Broadcom were worth $243,212,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Miller Global Investments LLC acquired a new stake in Broadcom during the fourth quarter worth approximately $31,000. Nvest Wealth Strategies Inc. acquired a new stake in Broadcom during the fourth quarter worth approximately $33,000. Family CFO Inc acquired a new stake in Broadcom during the fourth quarter worth approximately $35,000. PayPay Securities Corp lifted its position in Broadcom by 88.9% during the fourth quarter. PayPay Securities Corp now owns 119 shares of the semiconductor manufacturer's stock worth $41,000 after acquiring an additional 56 shares during the last quarter. Finally, Cherry Tree Wealth Management LLC lifted its position in Broadcom by 44.9% during the fourth quarter. Cherry Tree Wealth Management LLC now owns 129 shares of the semiconductor manufacturer's stock worth $45,000 after acquiring an additional 40 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom announced expanded security investments for the Spring and Java ecosystem, aiming to help enterprise customers defend against AI-enabled threats and reinforcing its software strategy. Broadcom Expands Its Investment in Spring and Java Ecosystem Security to Prepare Customers for AI-Enabled Threats
• Positive Sentiment: Several analysts and market commentators said the recent post-earnings decline may be exaggerated, arguing that Broadcom’s strong revenue growth and AI momentum still support the long-term story. Jim Cramer on Broadcom: “The Disappointing Earnings May Not Be as Crushing as We Think”
• Positive Sentiment: Wall Street sentiment remains constructive, with Bank of America raising its price target on Broadcom to $530 from $450 while keeping a Buy rating after the latest quarterly results and guidance. Is Broadcom (AVGO) the Best Stock in Chase Coleman’s Tiger Global?

Analysts Set New Price Targets

Several brokerages have issued reports on AVGO. Royal Bank Of Canada raised their price objective on shares of Broadcom from $360.00 to $400.00 and gave the stock a "sector perform" rating in a research report on Thursday, June 4th. Weiss Ratings upgraded shares of Broadcom from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, May 27th. DA Davidson raised their price objective on shares of Broadcom from $375.00 to $400.00 and gave the stock a "neutral" rating in a research report on Thursday, June 4th. Mizuho raised their price objective on shares of Broadcom from $480.00 to $530.00 and gave the stock an "outperform" rating in a research report on Thursday, June 4th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $515.00 price objective (up from $430.00) on shares of Broadcom in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, Broadcom currently has a consensus rating of "Moderate Buy" and an average price target of $490.13.

Broadcom Stock Performance

NASDAQ:AVGO opened at $396.60 on Tuesday. The company has a market cap of $1.88 trillion, a price-to-earnings ratio of 66.10, a PEG ratio of 0.70 and a beta of 1.41. Broadcom Inc. has a fifty-two week low of $241.11 and a fifty-two week high of $495.00. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. The stock has a fifty day moving average price of $397.96 and a 200-day moving average price of $362.43.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.04. The company had revenue of $22.19 billion for the quarter, compared to analyst estimates of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.Broadcom's quarterly revenue was up 47.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.58 EPS. As a group, equities analysts anticipate that Broadcom Inc. will post 9.97 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, June 22nd. Broadcom's dividend payout ratio is 43.33%.

Insider Activity at Broadcom

In other news, insider S. Ram Velaga sold 8,000 shares of the stock in a transaction on Friday, April 10th. The stock was sold at an average price of $370.52, for a total transaction of $2,964,160.00. Following the sale, the insider directly owned 57,932 shares of the company's stock, valued at approximately $21,464,964.64. This represents a 12.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 50,488 shares of the stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $16,236,940.80. Following the sale, the insider directly owned 278,141 shares in the company, valued at approximately $89,450,145.60. This trade represents a 15.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 324,282 shares of company stock worth $106,425,249 in the last quarter. 1.90% of the stock is currently owned by corporate insiders.

Broadcom Profile

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.

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