Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. Trims Holdings in Broadcom Inc. (NASDAQ:AVGO)

Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. reduced its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 29.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 26,447 shares of the semiconductor manufacturer's stock after selling 10,909 shares during the quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A.'s holdings in Broadcom were worth $4,428,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in AVGO. Norges Bank bought a new position in Broadcom during the fourth quarter valued at approximately $16,893,010,000. GAMMA Investing LLC grew its position in Broadcom by 18,179.3% in the 1st quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer's stock valued at $2,892,548,000 after acquiring an additional 17,181,652 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in 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 worth $11,018,089,000 after buying an additional 15,171,849 shares during the period. GQG Partners LLC boosted its position in Broadcom by 200.0% in the 4th quarter. GQG Partners LLC now owns 10,213,160 shares of the semiconductor manufacturer's stock valued at $2,367,819,000 after buying an additional 6,809,245 shares during the period. Finally, Franklin Resources Inc. grew its stake in Broadcom by 27.4% in the fourth quarter. Franklin Resources Inc. now owns 26,897,909 shares of the semiconductor manufacturer's stock worth $6,236,011,000 after purchasing an additional 5,783,988 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Trading Down 3.3%

Broadcom stock traded down $9.62 during midday trading on Tuesday, hitting $278.59. 16,488,652 shares of the stock were exchanged, compared to its average volume of 27,729,317. The stock's 50-day simple moving average is $254.41 and its 200 day simple moving average is $220.17. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $290.54. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $1.31 trillion, a price-to-earnings ratio of 104.34, a PEG ratio of 2.05 and a beta of 1.12.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 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 business had revenue of $15 billion for the quarter, compared to analyst estimates of $14.98 billion. During the same quarter in the prior year, the company posted $10.96 EPS. The company's quarterly revenue was up 20.2% on a year-over-year basis. On average, equities analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were paid a $0.59 dividend. The ex-dividend date of this dividend was Friday, June 20th. This represents a $2.36 annualized dividend and a dividend yield of 0.85%. Broadcom's dividend payout ratio (DPR) is 88.39%.

Broadcom declared that its board has authorized a share repurchase plan on Monday, April 7th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to repurchase up to 1.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AVGO. Truist Financial set a $295.00 target price on shares of Broadcom and gave the stock a "buy" rating in a report on Friday, June 6th. Mizuho raised their target price on shares of Broadcom from $315.00 to $320.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Seaport Res Ptn raised Broadcom to a "strong-buy" rating in a research report on Wednesday, April 30th. Wall Street Zen raised Broadcom from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. Finally, Redburn Atlantic initiated coverage on Broadcom in a research note on Wednesday, May 28th. They set a "buy" rating and a $301.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Broadcom currently has a consensus rating of "Buy" and an average target price of $292.08.

Insider Activity

In other Broadcom news, Director Henry Samueli sold 473,898 shares of the stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total value of $125,739,356.34. Following the sale, the director directly owned 38,188,575 shares of the company's stock, valued at approximately $10,132,574,604.75. This represents a 1.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Charlie B. Kawwas sold 10,000 shares of the company's stock in a transaction dated 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 transaction, the insider directly owned 789,784 shares of the company's stock, valued at approximately $199,720,577.92. This represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 830,516 shares of company stock worth $217,224,641 over the last three months. Company insiders own 2.00% of the company's stock.

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.