Broadcom Inc. (NASDAQ:AVGO) is Forsta AP Fonden's 9th Largest Position

Forsta AP Fonden trimmed its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,142,140 shares of the semiconductor manufacturer's stock after selling 30,300 shares during the period. Broadcom comprises 1.4% of Forsta AP Fonden's portfolio, making the stock its 9th biggest holding. Forsta AP Fonden's holdings in Broadcom were worth $191,228,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Savvy Advisors Inc. grew its holdings in Broadcom by 24.8% during the first quarter. Savvy Advisors Inc. now owns 23,127 shares of the semiconductor manufacturer's stock valued at $3,872,000 after purchasing an additional 4,590 shares during the period. LaSalle St. Investment Advisors LLC raised its stake in shares of Broadcom by 33.4% in the first quarter. LaSalle St. Investment Advisors LLC now owns 15,858 shares of the semiconductor manufacturer's stock worth $2,655,000 after buying an additional 3,972 shares during the period. Agur Provident & Training Funds Management Ltd. lifted its position in shares of Broadcom by 900.0% during the 1st quarter. Agur Provident & Training Funds Management Ltd. now owns 22,200 shares of the semiconductor manufacturer's stock valued at $3,716,000 after buying an additional 19,980 shares in the last quarter. Nutshell Asset Management Ltd bought a new position in shares of Broadcom during the 1st quarter valued at approximately $12,306,000. Finally, Union Heritage Capital LLC purchased a new stake in Broadcom in the 1st quarter worth approximately $1,909,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Morgan Stanley set a $338.00 price target on shares of Broadcom and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Wall Street Zen upgraded Broadcom from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Cantor Fitzgerald reiterated an "overweight" rating and set a $300.00 target price on shares of Broadcom in a research report on Friday, June 6th. Wells Fargo & Company lifted their target price on Broadcom from $230.00 to $255.00 and gave the company an "equal weight" rating in a research note on Friday, June 6th. Finally, Mizuho upped their price target on Broadcom from $315.00 to $320.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. One analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $294.92.

Insiders Place Their Bets

In other news, CFO Kirsten M. Spears sold 36,350 shares of the company's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $261.27, for a total value of $9,497,164.50. Following the transaction, the chief financial officer directly owned 325,587 shares in the company, valued at approximately $85,066,115.49. This represents a 10.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gayla J. Delly sold 3,000 shares of Broadcom stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $265.13, for a total transaction of $795,390.00. Following the sale, the director owned 33,352 shares of the company's stock, valued at $8,842,615.76. The trade was a 8.25% decrease in their position. 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 $217,224,641. Insiders own 2.00% of the company's stock.

Broadcom Price Performance

Broadcom stock opened at $303.76 on Friday. The firm has a market capitalization of $1.43 trillion, a PE ratio of 113.77, a price-to-earnings-growth ratio of 2.15 and a beta of 1.15. Broadcom Inc. has a 12-month low of $134.90 and a 12-month high of $310.34. The firm has a 50-day moving average price of $271.57 and a 200-day moving average price of $226.37. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89.

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

Broadcom Announces Dividend

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