Robeco Institutional Asset Management B.V. increased its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 13.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 3,275,348 shares of the semiconductor manufacturer's stock after purchasing an additional 400,592 shares during the quarter. Broadcom makes up 1.1% of Robeco Institutional Asset Management B.V.'s investment portfolio, making the stock its 12th largest holding. Robeco Institutional Asset Management B.V. owned approximately 0.07% of Broadcom worth $548,392,000 as of its most recent filing with the SEC.
A number of other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Broadcom by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer's stock worth $110,155,206,000 after purchasing an additional 6,573,204 shares during the period. Geode Capital Management LLC boosted its stake in Broadcom by 3.0% during 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 purchasing an additional 3,018,294 shares during the period. FMR LLC grew its holdings in Broadcom by 3.2% in the 4th quarter. FMR LLC now owns 93,274,317 shares of the semiconductor manufacturer's stock valued at $21,624,718,000 after buying an additional 2,873,809 shares during the last quarter. Norges Bank bought a new position in Broadcom in the 4th quarter worth approximately $16,893,010,000. Finally, Northern Trust Corp increased its position 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 buying an additional 5,258,925 shares during the period. Institutional investors own 76.43% of the company's stock.
Broadcom Price Performance
AVGO stock traded up $6.30 during trading on Monday, hitting $275.65. The company had a trading volume of 24,688,814 shares, compared to its average volume of 28,894,178. The company has a fifty day moving average price of $231.62 and a two-hundred day moving average price of $216.10. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $277.71. The company has a market cap of $1.30 trillion, a P/E ratio of 103.24, a P/E/G ratio of 1.92 and a beta of 1.11. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89.
Broadcom (NASDAQ:AVGO - Get Free Report) last issued 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. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The company had revenue of $15 billion during the quarter, compared to analysts' expectations of $14.98 billion. During the same period last year, the business earned $10.96 earnings per share. The business's revenue was up 20.2% on a year-over-year basis. Equities research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.
Broadcom Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 20th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Friday, June 20th. Broadcom's dividend payout ratio is currently 88.39%.
Broadcom declared that its board has approved a share repurchase 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 buy up to 1.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board believes its shares are undervalued.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on AVGO shares. Cantor Fitzgerald reissued an "overweight" rating and issued a $300.00 price objective on shares of Broadcom in a research report on Friday, June 6th. Citigroup upped their target price on shares of Broadcom from $276.00 to $285.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Oppenheimer increased their price target on shares of Broadcom from $225.00 to $265.00 and gave the company an "outperform" rating in a report on Friday, May 30th. Redburn Atlantic assumed 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. Finally, Truist Financial set a $295.00 price objective on shares of Broadcom and gave the company a "buy" rating in a research report on Friday, June 6th. Two equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $281.25.
Read Our Latest Stock Report on Broadcom
Insider Transactions at Broadcom
In other news, Director Henry Samueli sold 473,898 shares of Broadcom 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 completion of the transaction, the director owned 38,188,575 shares in the company, valued at approximately $10,132,574,604.75. The trade was a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark David Brazeal sold 50,000 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $253.28, for a total value of $12,664,000.00. Following the completion of the transaction, the insider directly owned 415,956 shares in the company, valued at $105,353,335.68. The trade was a 10.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 854,716 shares of company stock valued at $221,433,761. 2.00% of the stock is owned by company insiders.
About Broadcom
(
Free Report)
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.
Further Reading

Before you consider Broadcom, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Broadcom wasn't on the list.
While Broadcom currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report