Broadcom Inc. (NASDAQ:AVGO) Position Boosted by Swiss National Bank

Swiss National Bank raised its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 0.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,559,130 shares of the semiconductor manufacturer's stock after purchasing an additional 24,600 shares during the quarter. Broadcom accounts for approximately 1.5% of Swiss National Bank's portfolio, making the stock its 9th largest holding. Swiss National Bank owned about 0.27% of Broadcom worth $2,102,775,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Banco Bilbao Vizcaya Argentaria S.A. grew its stake in Broadcom by 3.8% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer's stock valued at $120,070,000 after purchasing an additional 18,845 shares in the last quarter. PARUS FINANCE UK Ltd grew its stake in Broadcom by 175.3% during the 1st quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer's stock valued at $16,840,000 after purchasing an additional 64,038 shares in the last quarter. Nebula Research & Development LLC grew its stake in Broadcom by 1,100.8% during the 4th quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer's stock valued at $3,642,000 after purchasing an additional 14,399 shares in the last quarter. Keener Financial Planning LLC grew its stake in Broadcom by 34.8% during the 1st quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer's stock valued at $149,000 after purchasing an additional 230 shares in the last quarter. Finally, Diversify Wealth Management LLC grew its stake in Broadcom by 5.6% during the 1st quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer's stock valued at $6,365,000 after purchasing an additional 2,016 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadcom

In other news, CEO Hock E. Tan sold 117,758 shares of Broadcom stock in a transaction on 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 transaction, the chief executive officer owned 1,014,152 shares in the company, valued at approximately $256,489,182.32. The trade was a 10.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Henry Samueli sold 473,898 shares of the business's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total value of $125,739,356.34. Following the completion of the transaction, the director owned 38,188,575 shares in the company, valued at $10,132,574,604.75. This trade represents a 1.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 830,516 shares of company stock valued at $217,224,641 in the last ninety days. Company insiders own 2.00% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AVGO shares. Seaport Res Ptn upgraded Broadcom to a "strong-buy" rating in a research note on Wednesday, April 30th. Truist Financial set a $295.00 target price on Broadcom and gave the stock a "buy" rating in a research report on Friday, June 6th. Wall Street Zen upgraded Broadcom from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. Citigroup lifted their target price on Broadcom from $285.00 to $315.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Finally, Evercore ISI reiterated an "outperform" rating and issued a $304.00 target price (up previously from $267.00) on shares of Broadcom in a research report 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $294.92.

Broadcom Stock Up 0.7%

AVGO opened at $303.76 on Friday. Broadcom Inc. has a one year low of $134.90 and a one year high of $310.34. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08. The stock's fifty day moving average is $271.57 and its 200-day moving average is $226.37. The company has a market capitalization of $1.43 trillion, a PE ratio of 113.77, a P/E/G ratio of 2.15 and a beta of 1.15.

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, topping analysts' consensus estimates of $1.57 by $0.01. The company had revenue of $15 billion for 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%. Broadcom's revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $10.96 earnings per share. On average, equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

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

Broadcom 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.

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