Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Triglav Skladi D.O.O.

Key Points

• Triglav Skladi D.O.O. has increased its stake in Broadcom Inc. by 26.8%, holding a total of 160,569 shares valued at approximately $26.88 million as of the latest filing.
• Institutional investors now own 76.43% of Broadcom's stock, with multiple hedge funds significantly increasing their positions in the past quarter.
• Broadcom reported a quarterly revenue of $15 billion, surpassing estimates, and has announced a quarterly dividend of $0.59 per share.

Triglav Skladi D.O.O. boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 26.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 160,569 shares of the semiconductor manufacturer's stock after buying an additional 33,907 shares during the quarter. Broadcom accounts for approximately 2.3% of Triglav Skladi D.O.O.'s portfolio, making the stock its 13th largest holding. Triglav Skladi D.O.O.'s holdings in Broadcom were worth $26,884,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in shares of Broadcom by 21.8% in the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock valued at $6,882,000 after purchasing an additional 5,322 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in Broadcom by 10.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock worth $1,854,000 after purchasing an additional 756 shares during the period. Bank Pictet & Cie Europe AG raised its stake in Broadcom by 16.4% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 221,199 shares of the semiconductor manufacturer's stock worth $51,283,000 after purchasing an additional 31,225 shares during the period. Highview Capital Management LLC DE raised its stake in shares of Broadcom by 1.3% in the 4th quarter. Highview Capital Management LLC DE now owns 25,522 shares of the semiconductor manufacturer's stock valued at $5,917,000 after acquiring an additional 322 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in shares of Broadcom in the 4th quarter valued at $602,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Gayla J. Delly sold 3,000 shares of the business's stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $265.13, for a total value of $795,390.00. Following the sale, the director directly owned 33,352 shares in the company, valued at $8,842,615.76. The trade was a 8.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Henry Samueli sold 473,898 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The stock was 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 owned 38,188,575 shares in the company, valued at $10,132,574,604.75. The trade was a 1.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 829,716 shares of company stock worth $217,040,489. Company insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Cowen reaffirmed a "buy" rating on shares of Broadcom in a research note on Friday, June 6th. UBS Group lifted their price target on shares of Broadcom from $270.00 to $290.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Erste Group Bank raised shares of Broadcom from a "hold" rating to a "buy" rating in a research note on Thursday, June 5th. Bank of America lifted their price target on shares of Broadcom from $240.00 to $300.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Finally, Wall Street Zen downgraded shares of Broadcom from a "buy" rating to a "hold" rating in a research note on Saturday. Two analysts have rated the stock with a hold rating, twenty-six have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, Broadcom has an average rating of "Buy" and an average target price of $294.92.

Broadcom Trading Up 2.9%

NASDAQ AVGO opened at $312.83 on Wednesday. The firm has a market capitalization of $1.47 trillion, a PE ratio of 117.16, a price-to-earnings-growth ratio of 2.16 and a beta of 1.15. The company has a 50-day simple moving average of $275.10 and a 200-day simple moving average of $227.64. Broadcom Inc. has a one year low of $134.90 and a one year high of $313.44. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.01. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The firm had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.98 billion. During the same period last year, the firm posted $10.96 EPS. Broadcom's quarterly revenue was up 20.2% compared to the same quarter last year. On average, equities analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

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