Capital International Inc. CA Boosts Holdings in Broadcom Inc. $AVGO

Capital International Inc. CA raised its position in Broadcom Inc. (NASDAQ:AVGO) by 9.2% in the third quarter, HoldingsChannel.com reports. The fund owned 2,416,180 shares of the semiconductor manufacturer’s stock after purchasing an additional 202,727 shares during the quarter. Broadcom accounts for approximately 6.4% of Capital International Inc. CA’s portfolio, making the stock its biggest holding. Capital International Inc. CA’s holdings in Broadcom were worth $797,122,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Capital Group Investment Management PTE. LTD. increased its stake in shares of Broadcom by 0.6% during the 3rd quarter. Capital Group Investment Management PTE. LTD. now owns 101,405 shares of the semiconductor manufacturer’s stock worth $33,455,000 after purchasing an additional 613 shares during the last quarter. Legal & General Group Plc grew its holdings in Broadcom by 2.3% during the third quarter. Legal & General Group Plc now owns 33,450,786 shares of the semiconductor manufacturer’s stock worth $11,035,749,000 after purchasing an additional 748,709 shares during the period. Vestcor Inc grew its holdings in Broadcom by 1.3% during the third quarter. Vestcor Inc now owns 117,336 shares of the semiconductor manufacturer’s stock worth $38,710,000 after purchasing an additional 1,470 shares during the period. Tree Line Advisors Hong Kong Ltd. acquired a new position in Broadcom during the third quarter worth approximately $52,464,000. Finally, Fieldview Capital Management LLC acquired a new position in Broadcom during the third quarter worth approximately $1,420,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Up 4.6%

AVGO stock opened at $345.75 on Tuesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.90 and a quick ratio of 1.73. The stock has a market capitalization of $1.64 trillion, a price-to-earnings ratio of 67.53, a PEG ratio of 0.77 and a beta of 1.22. The business’s fifty day moving average price is $333.68 and its two-hundred day moving average price is $343.89. Broadcom Inc. has a fifty-two week low of $138.10 and a fifty-two week high of $414.61.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, beating the consensus estimate of $2.03 by $0.02. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The business had revenue of $19.31 billion for the quarter, compared to the consensus estimate of $19.10 billion. During the same period in the prior year, the company posted $1.60 earnings per share. Broadcom’s revenue was up 29.5% compared to the same quarter last year. On average, equities analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 23rd will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Monday, March 23rd. Broadcom’s payout ratio is 50.78%.

Insider Buying and Selling at Broadcom

In related news, insider Mark David Brazeal sold 30,000 shares of the firm’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $347.12, for a total value of $10,413,600.00. Following the transaction, the insider owned 210,573 shares in the company, valued at approximately $73,094,099.76. This trade represents a 12.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Hock E. Tan sold 70,000 shares of the stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $347.30, for a total transaction of $24,311,000.00. Following the sale, the chief executive officer owned 132,836 shares in the company, valued at $46,133,942.80. The trade was a 34.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 458,785 shares of company stock valued at $155,508,157 over the last ninety days. 1.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on AVGO shares. JPMorgan Chase & Co. raised their price objective on Broadcom from $475.00 to $500.00 and gave the company an “overweight” rating in a research report on Thursday, March 5th. KeyCorp restated an “overweight” rating and issued a $500.00 price target (up from $460.00) on shares of Broadcom in a research note on Friday, December 12th. Rosenblatt Securities raised their price target on Broadcom from $450.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Oppenheimer lifted their price objective on shares of Broadcom from $435.00 to $450.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Finally, Truist Financial upped their price objective on shares of Broadcom from $510.00 to $545.00 and gave the company a “buy” rating in a report on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and a consensus target price of $435.30.

Broadcom Company Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.