Factory Mutual Insurance Co. Cuts Stake in Broadcom Inc. (NASDAQ:AVGO)

Factory Mutual Insurance Co. trimmed its position in shares of Broadcom Inc. (NASDAQ:AVGOFree Report) by 2.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 101,230 shares of the semiconductor manufacturer’s stock after selling 2,300 shares during the quarter. Broadcom comprises about 1.4% of Factory Mutual Insurance Co.’s holdings, making the stock its 15th biggest holding. Factory Mutual Insurance Co.’s holdings in Broadcom were worth $112,998,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Rise Advisors LLC boosted its holdings in shares of Broadcom by 76.5% during the 3rd quarter. Rise Advisors LLC now owns 30 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 13 shares during the last quarter. Bollard Group LLC purchased a new position in Broadcom during the second quarter valued at approximately $26,000. Macroview Investment Management LLC purchased a new position in Broadcom during the third quarter valued at approximately $29,000. BKM Wealth Management LLC purchased a new position in Broadcom during the fourth quarter valued at approximately $29,000. Finally, Indiana Trust & Investment Management CO purchased a new position in Broadcom during the third quarter valued at approximately $32,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Broadcom news, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the completion of the sale, the insider now owns 46,974 shares in the company, valued at approximately $61,957,296.78. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $1,318.97, for a total value of $3,297,425.00. Following the sale, the insider now owns 46,974 shares of the company’s stock, valued at approximately $61,957,296.78. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the sale, the director now directly owns 45 shares in the company, valued at approximately $62,465.85. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,310 shares of company stock worth $29,405,117. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on AVGO shares. Barclays started coverage on shares of Broadcom in a report on Wednesday, March 20th. They issued an “overweight” rating and a $1,405.00 target price on the stock. TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. JPMorgan Chase & Co. restated an “overweight” rating and issued a $1,700.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Mizuho boosted their price target on shares of Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Finally, UBS Group boosted their price objective on shares of Broadcom to $1,480.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Three research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and an average target price of $1,230.18.

Check Out Our Latest Analysis on Broadcom

Broadcom Trading Up 1.7 %

NASDAQ AVGO traded up $22.50 during trading hours on Wednesday, hitting $1,361.26. 374,116 shares of the company’s stock were exchanged, compared to its average volume of 3,020,778. The business’s 50 day moving average is $1,282.61 and its 200-day moving average is $1,078.22. Broadcom Inc. has a 12-month low of $601.29 and a 12-month high of $1,438.17. The firm has a market capitalization of $630.84 billion, a P/E ratio of 49.62, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34.

Broadcom (NASDAQ:AVGOGet Free Report) last announced its quarterly earnings results 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%. The firm’s revenue was up 34.2% on a year-over-year basis. During the same period in the prior year, the firm posted $9.83 earnings per share. As a group, analysts anticipate that Broadcom Inc. will post 36.8 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were paid 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 dividend yield of 1.54%. Broadcom’s dividend payout ratio (DPR) is currently 77.84%.

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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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