Broadcom Inc. (NASDAQ:AVGO) Shares Bought by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 14.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 167,320 shares of the semiconductor manufacturer's stock after acquiring an additional 21,726 shares during the quarter. Broadcom makes up about 2.6% of China Universal Asset Management Co. Ltd.'s investment portfolio, making the stock its 6th largest position. China Universal Asset Management Co. Ltd.'s holdings in Broadcom were worth $28,014,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Broadcom during the 4th quarter worth approximately $16,893,010,000. GAMMA Investing LLC boosted its stake in Broadcom by 18,179.3% in the first quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer's stock valued at $2,892,548,000 after acquiring an additional 17,181,652 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Broadcom by 46.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 47,524,533 shares of the semiconductor manufacturer's stock worth $11,018,089,000 after acquiring an additional 15,171,849 shares during the period. GQG Partners LLC raised its position in shares of Broadcom by 200.0% during the 4th quarter. GQG Partners LLC now owns 10,213,160 shares of the semiconductor manufacturer's stock valued at $2,367,819,000 after acquiring an additional 6,809,245 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Broadcom by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer's stock valued at $110,155,206,000 after purchasing an additional 6,573,204 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Activity at Broadcom

In other news, insider Charlie B. Kawwas sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $252.88, for a total value of $2,528,800.00. Following the transaction, the insider owned 789,784 shares in the company, valued at approximately $199,720,577.92. The trade was a 1.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Henry Samueli sold 473,898 shares of the company's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the completion of the sale, the director directly owned 38,188,575 shares in the company, valued at approximately $10,132,574,604.75. This represents a 1.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 854,716 shares of company stock valued at $221,433,761 over the last ninety days. Insiders own 2.00% of the company's stock.

Broadcom Stock Performance

NASDAQ:AVGO opened at $274.87 on Monday. The stock's 50-day moving average is $238.77 and its 200-day moving average is $217.17. Broadcom Inc. has a 1-year low of $128.50 and a 1-year high of $277.71. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. The stock has a market cap of $1.29 trillion, a P/E ratio of 102.95, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly 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 firm had revenue of $15 billion during 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%. The company's revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the company posted $10.96 EPS. Equities research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom announced that its Board of Directors has authorized a share buyback program on Monday, April 7th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its stock is undervalued.

Broadcom Dividend Announcement

The business also recently declared 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 was Friday, June 20th. This represents a $2.36 annualized dividend and a dividend yield of 0.86%. Broadcom's payout ratio is 88.39%.

Analyst Ratings Changes

A number of brokerages recently commented on AVGO. Cowen reaffirmed a "buy" rating on shares of Broadcom in a research note on Friday, June 6th. Redburn Atlantic began coverage on Broadcom in a report on Wednesday, May 28th. They set a "buy" rating and a $301.00 target price on the stock. Erste Group Bank upgraded Broadcom from a "hold" rating to a "buy" rating in a research report on Thursday, June 5th. Wall Street Zen upgraded shares of Broadcom from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, HSBC raised shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price objective on the stock in a research note on Tuesday, June 24th. One equities research analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $281.46.

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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