Broadcom Inc. (NASDAQ:AVGO) is Mn Services Vermogensbeheer B.V.'s 6th Largest Position

Mn Services Vermogensbeheer B.V. trimmed its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 7.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,631,600 shares of the semiconductor manufacturer's stock after selling 126,200 shares during the quarter. Broadcom makes up 2.1% of Mn Services Vermogensbeheer B.V.'s portfolio, making the stock its 6th biggest holding. Mn Services Vermogensbeheer B.V.'s holdings in Broadcom were worth $273,179,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Broadcom by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer's stock valued at $110,155,206,000 after buying an additional 6,573,204 shares during the period. Geode Capital Management LLC raised its stake in shares of Broadcom by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 102,207,120 shares of the semiconductor manufacturer's stock valued at $23,647,209,000 after acquiring an additional 3,018,294 shares during the period. FMR LLC boosted its position in Broadcom by 3.2% during the 4th quarter. FMR LLC now owns 93,274,317 shares of the semiconductor manufacturer's stock worth $21,624,718,000 after purchasing an additional 2,873,809 shares during the period. Norges Bank acquired a new stake in Broadcom in the 4th quarter valued at $16,893,010,000. Finally, Northern Trust Corp boosted its holdings in Broadcom by 12.0% in the 4th quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer's stock worth $11,380,411,000 after acquiring an additional 5,258,925 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Price Performance

AVGO stock traded up $4.36 during midday trading on Monday, reaching $253.06. The company had a trading volume of 8,703,313 shares, compared to its average volume of 30,299,027. The firm has a 50-day moving average price of $213.01 and a 200-day moving average price of $209.85. Broadcom Inc. has a 1 year low of $128.50 and a 1 year high of $265.43. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The company has a market capitalization of $1.19 trillion, a P/E ratio of 206.39, a P/E/G ratio of 2.29 and a beta of 1.11.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.57 by $0.01. The firm had revenue of $15 billion for the quarter, compared to analysts' expectations of $14.98 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company's revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $10.96 earnings per share. On average, research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom declared that its board has approved a share repurchase plan on Monday, April 7th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board believes its shares are undervalued.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be issued a $0.59 dividend. The ex-dividend date is Friday, June 20th. This represents a $2.36 annualized dividend and a yield of 0.93%. Broadcom's dividend payout ratio (DPR) is presently 88.39%.

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction on Friday, April 11th. The shares were sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the transaction, the insider now owns 465,956 shares in the company, valued at $83,872,080. This trade represents a 5.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Charlie B. Kawwas sold 10,000 shares of the company's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $252.88, for a total value of $2,528,800.00. Following the completion of the sale, the insider now owns 789,784 shares of the company's stock, valued at $199,720,577.92. This trade represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 730,576 shares of company stock worth $133,778,494. Corporate insiders own 2.00% of the company's stock.

Analyst Ratings Changes

AVGO has been the topic of a number of recent analyst reports. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $300.00 target price on shares of Broadcom in a research report on Friday, June 6th. Wells Fargo & Company boosted their target price on Broadcom from $230.00 to $255.00 and gave the stock an "equal weight" rating in a report on Friday, June 6th. Evercore ISI reaffirmed an "outperform" rating and set a $304.00 target price (up from $267.00) on shares of Broadcom in a report on Friday, June 6th. Erste Group Bank raised shares of Broadcom from a "hold" rating to a "buy" rating in a research report on Thursday, June 5th. Finally, Morgan Stanley increased their target price on shares of Broadcom from $260.00 to $270.00 and gave the stock an "overweight" rating in a research report on Friday, June 6th. Three equities research 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.com, Broadcom has an average rating of "Moderate Buy" and a consensus target price of $276.09.

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.