Caisse Des Depots ET Consignations Has $18.27 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Key Points

• Caisse Des Depots ET Consignations has reduced its holdings in Broadcom Inc. by 6.4%, owning 109,101 shares worth approximately $18.27 million, making it the 15th largest position in its portfolio.
• Broadcom's stock recently opened at $303.76, reflecting a year-high of $310.34, with a market capitalization of $1.43 trillion.
• In the latest earnings report, Broadcom posted an EPS of $1.58, exceeding expectations and demonstrating a 20.2% year-over-year revenue growth to $15 billion.

Caisse Des Depots ET Consignations cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 6.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,101 shares of the semiconductor manufacturer's stock after selling 7,488 shares during the quarter. Broadcom makes up 0.9% of Caisse Des Depots ET Consignations' portfolio, making the stock its 15th largest position. Caisse Des Depots ET Consignations' holdings in Broadcom were worth $18,267,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC increased its position in shares of Broadcom by 18,179.3% during the 1st quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer's stock worth $2,892,548,000 after purchasing an additional 17,181,652 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Broadcom by 46.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 47,524,533 shares of the semiconductor manufacturer's stock valued at $11,018,089,000 after buying an additional 15,171,849 shares during the last quarter. Northern Trust Corp grew its stake in shares of Broadcom by 12.0% in the fourth quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer's stock valued at $11,380,411,000 after buying an additional 5,258,925 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Broadcom by 16.7% during the first quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer's stock worth $5,333,384,000 after buying an additional 4,550,647 shares during the last quarter. Finally, Deutsche Bank AG raised its position in Broadcom by 36.9% during the first quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer's stock worth $2,638,512,000 after acquiring an additional 4,245,345 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Up 0.7%

Shares of AVGO opened at $303.76 on Friday. The firm has a 50 day simple moving average of $271.57 and a two-hundred day simple moving average of $226.37. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. Broadcom Inc. has a one year low of $134.90 and a one year high of $310.34. The company has a market cap of $1.43 trillion, a P/E 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 issued 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. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The company had revenue of $15 billion for the quarter, compared to analyst estimates of $14.98 billion. During the same quarter last year, the company posted $10.96 EPS. The company's revenue for the quarter was up 20.2% compared to the same quarter last year. Research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

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. 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 dividend payout ratio (DPR) is presently 88.39%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Wells Fargo & Company increased their price target on shares of Broadcom from $230.00 to $255.00 and gave the company an "equal weight" rating in a research note on Friday, June 6th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $300.00 target price on shares of Broadcom in a research note on Friday, June 6th. UBS Group lifted their price target on Broadcom from $270.00 to $290.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Hsbc Global Res raised Broadcom from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, June 24th. Finally, KeyCorp raised their price objective on Broadcom from $315.00 to $330.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. One analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $294.92.

Insider Buying and Selling

In other news, Director Justine Page sold 800 shares of the stock in a transaction on Monday, July 14th. The stock was sold at an average price of $274.30, for a total value of $219,440.00. Following the completion of the transaction, the director directly owned 24,582 shares in the company, valued at approximately $6,742,842.60. This represents a 3.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 40,000 shares of the firm's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $268.29, for a total value of $10,731,600.00. Following the sale, the chief executive officer directly owned 482,836 shares in the company, valued at approximately $129,540,070.44. This trade represents a 7.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 830,516 shares of company stock worth $217,224,641 in the last quarter. Corporate insiders own 2.00% of the company's stock.

Broadcom Company 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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