Oregon Public Employees Retirement Fund Has $92.84 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Oregon Public Employees Retirement Fund raised its position in Broadcom Inc. (NASDAQ:AVGO) by 0.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 400,430 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,884 shares during the quarter. Broadcom accounts for approximately 1.7% of Oregon Public Employees Retirement Fund’s holdings, making the stock its 9th largest holding. Oregon Public Employees Retirement Fund’s holdings in Broadcom were worth $92,836,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp increased its stake in Broadcom by 948.5% in the 3rd quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock valued at $31,814,902,000 after buying an additional 166,844,263 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Broadcom by 976.6% in the third quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock valued at $17,055,760,000 after acquiring an additional 89,975,941 shares during the last quarter. FMR LLC raised its holdings in Broadcom by 1,121.3% during the third quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock worth $15,594,088,000 after acquiring an additional 82,998,328 shares in the last quarter. Jennison Associates LLC boosted its position in Broadcom by 842.4% during the third quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock valued at $6,209,758,000 after purchasing an additional 32,178,542 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Broadcom by 975.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer’s stock valued at $5,833,894,000 after purchasing an additional 30,674,902 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Broadcom news, CFO Kirsten M. Spears sold 12,570 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $229.62, for a total value of $2,886,323.40. Following the sale, the chief financial officer now owns 325,443 shares in the company, valued at $74,728,221.66. This trade represents a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Diane M. Bryant sold 15,000 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total value of $3,400,200.00. Following the completion of the transaction, the director now owns 6,460 shares of the company’s stock, valued at $1,464,352.80. The trade was a 69.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Performance

Shares of Broadcom stock opened at $197.80 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The company has a market cap of $927.16 billion, a PE ratio of 161.34, a price-to-earnings-growth ratio of 2.29 and a beta of 1.02. The company has a 50 day moving average of $227.87 and a 200-day moving average of $191.51. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same period in the prior year, the company earned $0.98 earnings per share. The company’s quarterly revenue was up 51.2% on a year-over-year basis. As a group, equities research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date was Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is currently 191.87%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on AVGO shares. Truist Financial increased their price objective on Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a report on Friday, December 13th. Citigroup lifted their price objective on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Hsbc Global Res raised shares of Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Robert W. Baird lifted their price target on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, Mizuho upped their price objective on Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and a consensus price target of $225.04.

Broadcom 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.