Dimensional Fund Advisors LP Has $1.71 Billion Position in Broadcom Inc. (NASDAQ:AVGO)

Key Points

• Dimensional Fund Advisors LP increased its stake in Broadcom by 0.3%, now holding over 10 million shares valued at approximately $1.71 billion, making it the fund's 22nd largest position.
• Analysts have mixed ratings on Broadcom, with 26 buy ratings, two hold ratings, and three strong buy ratings, reflecting varied confidence in the stock's performance.
• Broadcom announced a quarterly dividend of $0.59 per share, with an annualized payout of $2.36, representing a 0.8% dividend yield and highlighting the company's commitment to returning value to shareholders.

Dimensional Fund Advisors LP raised its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 0.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,241,379 shares of the semiconductor manufacturer's stock after purchasing an additional 32,231 shares during the period. Broadcom makes up about 0.4% of Dimensional Fund Advisors LP's investment portfolio, making the stock its 22nd biggest holding. Dimensional Fund Advisors LP owned about 0.22% of Broadcom worth $1,714,546,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of AVGO. Banco Bilbao Vizcaya Argentaria S.A. grew its position in Broadcom by 3.8% in the fourth 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 position in Broadcom by 175.3% in the first 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 position in Broadcom by 1,100.8% in the fourth 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 position in Broadcom by 34.8% in the first 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 position in Broadcom by 5.6% in the first 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. Institutional investors own 76.43% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on AVGO shares. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $340.00 target price on shares of Broadcom in a research report on Wednesday. Benchmark increased their price target on shares of Broadcom from $255.00 to $315.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Hsbc Global Res upgraded shares of Broadcom from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 24th. Evercore ISI reiterated an "outperform" rating and issued a $304.00 price target (up previously from $267.00) on shares of Broadcom in a research note on Friday, June 6th. Finally, Cowen reiterated a "buy" rating on shares of Broadcom in a research note on Friday, June 6th. Two research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, Broadcom has a consensus rating of "Buy" and a consensus target price of $295.96.

Insider Transactions at Broadcom

In other news, Director Henry Samueli sold 473,898 shares of the business's stock in a transaction that occurred on 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 transaction, the director owned 38,188,575 shares in the company, valued at approximately $10,132,574,604.75. The trade was a 1.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark David Brazeal sold 50,000 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $253.28, for a total transaction of $12,664,000.00. Following the completion of the transaction, the insider owned 415,956 shares in the company, valued at $105,353,335.68. This trade represents a 10.73% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 830,516 shares of company stock worth $217,286,457. Company insiders own 2.00% of the company's stock.

Broadcom Price Performance

Shares of NASDAQ:AVGO traded down $4.89 during midday trading on Friday, hitting $306.34. The stock had a trading volume of 22,795,520 shares, compared to its average volume of 17,011,082. The company's 50-day moving average price is $278.27 and its 200-day moving average price is $229.63. The company has a market capitalization of $1.44 trillion, a P/E ratio of 114.73, a price-to-earnings-growth ratio of 2.21 and a beta of 1.15. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. Broadcom Inc. has a fifty-two week low of $134.90 and a fifty-two week high of $317.35.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, beating the consensus estimate of $1.57 by $0.01. The company 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 business'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 company earned $10.96 EPS. As a group, equities research analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were given a $0.59 dividend. 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 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.