Zurich Insurance Group Ltd FI Trims Stock Position in Broadcom Inc. $AVGO

Key Points

• Zurich Insurance Group reduced its stake in Broadcom Inc. by 7.2%, now holding 1.19 million shares worth approximately $198.97 million, making it the seventh largest holding in its portfolio.
• Several large investors have increased their positions in Broadcom, with notable increases from Price T Rowe Associates (up 37.8%) and GAMMA Investing (up 18,179.3%).
• Broadcom's stock received several upgraded price targets from analysts, with consensus estimates now around $351.92, reflecting a bullish outlook on the semiconductor manufacturer.

Zurich Insurance Group Ltd FI decreased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 7.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,188,374 shares of the semiconductor manufacturer's stock after selling 91,790 shares during the quarter. Broadcom comprises approximately 1.6% of Zurich Insurance Group Ltd FI's investment portfolio, making the stock its 7th biggest holding. Zurich Insurance Group Ltd FI's holdings in Broadcom were worth $198,969,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Nuveen LLC acquired a new position in shares of Broadcom in the 1st quarter valued at $6,649,117,000. Price T Rowe Associates Inc. MD increased its holdings in Broadcom by 37.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer's stock valued at $10,968,270,000 after purchasing an additional 17,985,046 shares during the last quarter. GAMMA Investing LLC lifted its stake in Broadcom by 18,179.3% in the first quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer's stock valued at $2,892,548,000 after buying an additional 17,181,652 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Broadcom by 16.7% during the first quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer's stock worth $5,333,384,000 after buying an additional 4,550,647 shares during the last quarter. Finally, Deutsche Bank AG grew its position in shares of Broadcom by 36.9% during the 1st quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer's stock worth $2,638,512,000 after buying an additional 4,245,345 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AVGO. Rosenblatt Securities increased their price target on shares of Broadcom from $340.00 to $400.00 and gave the company a "buy" rating in a research report on Friday. Benchmark upped their target price on shares of Broadcom from $315.00 to $385.00 and gave the company a "buy" rating in a research note on Friday. Argus lifted their price target on shares of Broadcom from $285.00 to $375.00 and gave the stock a "buy" rating in a research report on Monday. Truist Financial boosted their price target on shares of Broadcom from $295.00 to $365.00 and gave the company a "buy" rating in a report on Friday. Finally, Evercore ISI reaffirmed an "outperform" rating and set a $342.00 price objective (up previously from $304.00) on shares of Broadcom in a research note on Thursday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $351.92.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $345.65 on Tuesday. The company has a fifty day moving average price of $293.49 and a 200 day moving average price of $238.27. The firm has a market cap of $1.63 trillion, a PE ratio of 88.18, a PEG ratio of 2.38 and a beta of 1.16. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. Broadcom Inc. has a 1-year low of $134.90 and a 1-year high of $356.34.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, beating analysts' consensus estimates of $1.66 by $0.03. The company had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The company's quarterly revenue was up 22.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. Research analysts predict 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 Tuesday, September 30th. Shareholders of record on Monday, September 22nd will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Broadcom's dividend payout ratio is 60.20%.

Insider Activity at Broadcom

In other news, insider Mark David Brazeal sold 50,000 shares of Broadcom stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $253.28, for a total value of $12,664,000.00. Following the sale, the insider directly owned 415,956 shares in the company, valued at $105,353,335.68. This trade represents a 10.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Henry Samueli sold 473,898 shares of the business's 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 sale, the director directly owned 38,188,575 shares in the company, valued at approximately $10,132,574,604.75. This represents a 1.23% decrease in their position. 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. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Company 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.

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