Factory Mutual Insurance Co. Has $146.91 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Factory Mutual Insurance Co. lowered its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 877,445 shares of the semiconductor manufacturer's stock after selling 23,700 shares during the period. Broadcom makes up 1.7% of Factory Mutual Insurance Co.'s investment portfolio, making the stock its 10th largest holding. Factory Mutual Insurance Co.'s holdings in Broadcom were worth $146,911,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Canton Hathaway LLC bought a new position in Broadcom in the 4th quarter worth about $26,000. Rialto Wealth Management LLC purchased a new position in Broadcom in the fourth quarter worth about $26,000. Sunbeam Capital Management LLC purchased a new position in Broadcom in the fourth quarter worth about $28,000. Vermillion Wealth Management Inc. bought a new position in shares of Broadcom in the fourth quarter worth approximately $30,000. Finally, Sellwood Investment Partners LLC purchased a new stake in shares of Broadcom during the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom Stock Performance

Shares of Broadcom stock traded up $1.89 on Wednesday, hitting $251.26. 27,084,590 shares of the company's stock were exchanged, compared to its average volume of 30,077,428. Broadcom Inc. has a 1 year low of $128.50 and a 1 year high of $265.43. The company has a 50-day simple moving average of $216.21 and a 200-day simple moving average of $210.74. 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 has a market capitalization of $1.18 trillion, a PE ratio of 94.10, a PEG ratio of 1.79 and a beta of 1.11.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results 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 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 the consensus estimate of $14.98 billion. During the same period in the previous year, the business earned $10.96 earnings per share. Broadcom's quarterly revenue was up 20.2% compared to the same quarter last year. As a group, equities analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom declared that its board has approved a share buyback program on Monday, April 7th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to repurchase up to 1.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its shares are undervalued.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 20th will be given a dividend of $0.59 per share. The ex-dividend date is Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.94%. Broadcom's payout ratio is currently 88.39%.

Insider Activity at Broadcom

In related news, CEO Hock E. Tan sold 117,758 shares of Broadcom stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $252.91, for a total transaction of $29,782,175.78. Following the transaction, the chief executive officer now owns 1,014,152 shares in the company, valued at approximately $256,489,182.32. The trade was a 10.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $194.65, for a total value of $5,839,500.00. Following the completion of the sale, the insider now owns 490,956 shares of the company's stock, valued at $95,564,585.40. The trade was a 5.76% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 848,334 shares of company stock worth $163,560,669. 2.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of recent analyst reports. Seaport Res Ptn upgraded shares of Broadcom to a "strong-buy" rating in a report on Wednesday, April 30th. Rosenblatt Securities lifted their target price on Broadcom from $223.00 to $340.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Mizuho upped their price target on Broadcom from $300.00 to $310.00 and gave the company an "outperform" rating in a report on Friday, June 6th. Evercore ISI reaffirmed an "outperform" rating and set a $304.00 price objective (up from $267.00) on shares of Broadcom in a research report on Friday, June 6th. Finally, Erste Group Bank upgraded Broadcom from a "hold" rating to a "buy" rating in a report on Thursday, June 5th. Three investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $276.09.

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.