Livforsakringsbolaget Skandia Omsesidigt Purchases 2,300 Shares of Broadcom Inc. (NASDAQ:AVGO)

Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 17.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,132 shares of the semiconductor manufacturer’s stock after buying an additional 2,300 shares during the period. Broadcom accounts for approximately 1.6% of Livforsakringsbolaget Skandia Omsesidigt’s investment portfolio, making the stock its 8th biggest position. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Broadcom were worth $16,891,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AVGO. Cantor Fitzgerald Investment Advisor L.P increased its holdings in shares of Broadcom by 94.4% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 75,090 shares of the semiconductor manufacturer’s stock valued at $47,283,000 after purchasing an additional 36,458 shares during the last quarter. Fairfield Bush & CO. grew its stake in shares of Broadcom by 2.6% in the first quarter. Fairfield Bush & CO. now owns 4,945 shares of the semiconductor manufacturer’s stock valued at $3,114,000 after acquiring an additional 123 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Broadcom by 20.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 509,603 shares of the semiconductor manufacturer’s stock valued at $320,887,000 after acquiring an additional 87,945 shares in the last quarter. Loomis Sayles & Co. L P grew its stake in shares of Broadcom by 1.1% in the first quarter. Loomis Sayles & Co. L P now owns 40,357 shares of the semiconductor manufacturer’s stock valued at $25,412,000 after acquiring an additional 420 shares in the last quarter. Finally, Ergoteles LLC acquired a new position in shares of Broadcom in the first quarter valued at about $1,095,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Price Performance

Shares of AVGO traded down $46.43 during midday trading on Wednesday, hitting $1,282.63. 2,469,884 shares of the company traded hands, compared to its average volume of 2,954,472. The stock has a 50-day moving average of $1,306.49 and a 200-day moving average of $1,114.01. Broadcom Inc. has a one year low of $601.29 and a one year high of $1,438.17. The firm has a market cap of $594.40 billion, a P/E ratio of 47.95, a PEG ratio of 2.67 and a beta of 1.25. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping the consensus estimate of $8.95 by $2.04. The company had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. Broadcom’s revenue was up 34.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $9.83 earnings per share. As a group, sell-side analysts predict that Broadcom Inc. will post 35.95 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were issued a $5.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.64%. Broadcom’s dividend payout ratio (DPR) is 77.84%.

Insiders Place Their Bets

In other news, insider Charlie B. Kawwas sold 5,000 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the completion of the transaction, the insider now directly owns 16,575 shares in the company, valued at $22,276,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Justine Page sold 110 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total value of $145,530.00. Following the transaction, the director now owns 3,125 shares of the company’s stock, valued at $4,134,375. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 5,000 shares of Broadcom stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the sale, the insider now directly owns 16,575 shares in the company, valued at approximately $22,276,800. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,920 shares of company stock worth $40,306,667. 2.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

AVGO has been the topic of several research reports. Benchmark restated a “buy” rating and issued a $1,720.00 price target on shares of Broadcom in a research note on Thursday, March 21st. TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and upped their price target for the company from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Evercore ISI initiated coverage on shares of Broadcom in a research note on Tuesday. They issued an “outperform” rating and a $1,620.00 price target on the stock. UBS Group upped their price target on shares of Broadcom to $1,480.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Finally, Mizuho upped their price target on shares of Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,285.41.

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.