Nan Shan Life Insurance Co. Ltd. Boosts Stock Holdings in Broadcom Inc. $AVGO

Key Points

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Nan Shan Life Insurance Co. Ltd. increased its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2,228.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 215,361 shares of the semiconductor manufacturer's stock after purchasing an additional 206,113 shares during the quarter. Nan Shan Life Insurance Co. Ltd.'s holdings in Broadcom were worth $36,058,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barnes Dennig Private Wealth Management LLC purchased a new stake in Broadcom in the first quarter worth approximately $25,000. Cheviot Value Management LLC purchased a new stake in Broadcom in the first quarter worth approximately $25,000. Inlight Wealth Management LLC purchased a new stake in Broadcom in the first quarter worth approximately $26,000. Sunbeam Capital Management LLC purchased a new stake in Broadcom in the fourth quarter worth approximately $28,000. Finally, Vermillion Wealth Management Inc. purchased a new stake in Broadcom in the fourth quarter worth approximately $30,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Wall Street Analyst Weigh In

AVGO has been the topic of several research reports. Benchmark raised their target price on shares of Broadcom from $255.00 to $315.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Rosenblatt Securities increased their price target on shares of Broadcom from $223.00 to $340.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Redburn Atlantic started coverage on shares of Broadcom in a research report on Wednesday, May 28th. They issued a "buy" rating and a $301.00 price target on the stock. Cowen reiterated a "buy" rating on shares of Broadcom in a research report on Friday, June 6th. Finally, Wells Fargo & Company increased their price target on shares of Broadcom from $230.00 to $255.00 and gave the stock an "equal weight" rating in a research report on Friday, June 6th. One research 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 company's stock. According to data from MarketBeat, Broadcom presently has a consensus rating of "Buy" and a consensus target price of $295.96.

Insiders Place Their Bets

In other Broadcom news, insider Charlie B. Kawwas sold 10,000 shares of Broadcom stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $252.88, for a total value of $2,528,800.00. Following the completion of the transaction, the insider directly owned 789,784 shares of the company's stock, valued at $199,720,577.92. This trade represents a 1.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Henry Samueli sold 473,898 shares of Broadcom stock in a transaction 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 transaction, the director directly owned 38,188,575 shares of the company's stock, 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 ninety days, insiders sold 830,516 shares of company stock worth $217,286,457. Insiders own 2.00% of the company's stock.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $305.76 on Tuesday. 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 company has a market cap of $1.44 trillion, a P/E ratio of 114.52, a P/E/G ratio of 2.18 and a beta of 1.15. The firm's fifty day moving average is $279.50 and its two-hundred day moving average is $230.48. Broadcom Inc. has a 52-week low of $134.90 and a 52-week high of $317.35.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, topping analysts' consensus estimates of $1.57 by $0.01. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The business had revenue of $15 billion during the quarter, compared to analysts' expectations of $14.98 billion. During the same period last year, the company posted $10.96 EPS. The business's revenue was up 20.2% on a year-over-year basis. As a group, analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders 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 of this dividend was Friday, June 20th. Broadcom's dividend payout ratio (DPR) 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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