Swiss National Bank Acquires 60,329 Shares of Broadcom Inc. (NASDAQ:AVGO)

Swiss National Bank increased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 4.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,387,763 shares of the semiconductor manufacturer’s stock after acquiring an additional 60,329 shares during the period. Broadcom comprises 1.1% of Swiss National Bank’s investment portfolio, making the stock its 9th biggest holding. Swiss National Bank’s holdings in Broadcom were worth $1,549,090,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in AVGO. International Assets Investment Management LLC boosted its position in shares of Broadcom by 113,495.7% during the fourth quarter. International Assets Investment Management LLC now owns 3,327,217 shares of the semiconductor manufacturer’s stock valued at $37,140,060,000 after buying an additional 3,324,288 shares during the last quarter. Wellington Management Group LLP raised its position in Broadcom by 43.9% in the 3rd quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer’s stock valued at $3,343,631,000 after buying an additional 1,228,755 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new position in Broadcom during the 3rd quarter valued at $560,563,000. FMR LLC boosted its holdings in Broadcom by 16.7% during the 3rd quarter. FMR LLC now owns 4,019,122 shares of the semiconductor manufacturer’s stock worth $3,338,203,000 after acquiring an additional 573,826 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Broadcom by 19.1% in the 3rd quarter. Invesco Ltd. now owns 3,206,601 shares of the semiconductor manufacturer’s stock worth $2,663,339,000 after acquiring an additional 514,120 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO traded down $12.84 during trading hours on Thursday, hitting $1,230.02. The company’s stock had a trading volume of 1,190,263 shares, compared to its average volume of 2,888,874. The business has a 50 day simple moving average of $1,310.35 and a two-hundred day simple moving average of $1,144.51. Broadcom Inc. has a 52-week low of $601.29 and a 52-week high of $1,438.17. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The company has a market cap of $570.02 billion, a price-to-earnings ratio of 45.70, a PEG ratio of 2.65 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The business had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. During the same period in the previous year, the business earned $9.83 EPS. Broadcom’s revenue was up 34.2% compared to the same quarter last year. On average, equities analysts expect that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were paid a dividend of $5.25 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.71%. Broadcom’s payout ratio is 77.84%.

Analyst Ratings Changes

A number of research analysts recently weighed in on AVGO shares. Evercore ISI began coverage on shares of Broadcom in a research report on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 price target on the stock. Cantor Fitzgerald boosted their target price on Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th. UBS Group upped their target price on Broadcom to $1,480.00 and gave the company a “buy” rating in a report on Monday, February 26th. Oppenheimer reiterated an “outperform” rating and set a $1,500.00 price target (up from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. Finally, TD Cowen raised Broadcom from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,285.41.

Insider Buying and Selling

In other Broadcom news, Director Justine Page sold 110 shares of Broadcom stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the completion of the transaction, the director now owns 3,125 shares of the company’s stock, valued at approximately $4,134,375. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Mark David Brazeal sold 2,500 shares of Broadcom stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the completion of the sale, the insider now owns 41,974 shares of the company’s stock, valued at $55,257,092.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Justine Page sold 110 shares of the company’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 completion of the transaction, the director now owns 3,125 shares in the company, valued at $4,134,375. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,920 shares of company stock valued at $40,306,667. Corporate insiders own 2.00% of the company’s stock.

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.