Broadcom Inc. $AVGO Shares Purchased by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. boosted its holdings in Broadcom Inc. (NASDAQ:AVGOFree Report) by 2.0% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,727,777 shares of the semiconductor manufacturer’s stock after buying an additional 34,677 shares during the period. Broadcom makes up about 3.7% of Mn Services Vermogensbeheer B.V.’s investment portfolio, making the stock its 6th largest position. Mn Services Vermogensbeheer B.V.’s holdings in Broadcom were worth $597,984,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Miller Global Investments LLC purchased a new position in shares of Broadcom in the 4th quarter valued at $31,000. JCIC Asset Management Inc. purchased a new stake in Broadcom during the 3rd quarter worth $31,000. Teachers Insurance & Annuity Association of America acquired a new stake in Broadcom in the 2nd quarter valued at $28,000. Manning & Napier Advisors LLC acquired a new stake in Broadcom in the 3rd quarter valued at $34,000. Finally, Navigoe LLC raised its position in Broadcom by 515.0% in the third quarter. Navigoe LLC now owns 123 shares of the semiconductor manufacturer’s stock valued at $40,000 after purchasing an additional 103 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Trading Up 0.3%

NASDAQ:AVGO opened at $314.55 on Friday. The stock has a market cap of $1.49 trillion, a price-to-earnings ratio of 61.44, a price-to-earnings-growth ratio of 0.67 and a beta of 1.24. Broadcom Inc. has a one year low of $138.10 and a one year high of $414.61. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.73 and a current ratio of 1.90. The business’s 50-day simple moving average is $324.84 and its 200 day simple moving average is $343.50.

Broadcom (NASDAQ:AVGOGet Free Report) last issued its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.02. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The firm had revenue of $19.31 billion during the quarter, compared to analyst estimates of $19.10 billion. During the same quarter last year, the firm earned $1.60 EPS. Broadcom’s quarterly revenue was up 29.5% on a year-over-year basis. As a group, sell-side analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. Broadcom’s dividend payout ratio (DPR) is presently 50.78%.

Analysts Set New Price Targets

A number of brokerages have commented on AVGO. Erste Group Bank cut Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday. Barclays reissued an “overweight” rating and set a $500.00 price target (up from $450.00) on shares of Broadcom in a research report on Friday, December 12th. Zacks Research cut Broadcom from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 4th. Deutsche Bank Aktiengesellschaft set a $430.00 price objective on shares of Broadcom and gave the company a “buy” rating in a research report on Friday, December 12th. Finally, Oppenheimer boosted their target price 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. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $435.30.

Get Our Latest Stock Report on AVGO

Insiders Place Their Bets

In other Broadcom news, CFO Kirsten M. Spears sold 36,292 shares of the firm’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total transaction of $11,671,507.20. Following the completion of the transaction, the chief financial officer directly owned 327,760 shares of the company’s stock, valued at $105,407,616. This trade represents a 9.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider S. Ram Velaga sold 38,841 shares of the business’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total transaction of $12,491,265.60. Following the completion of the sale, the insider directly owned 96,147 shares of the company’s stock, valued at $30,920,875.20. The trade was a 28.77% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 373,049 shares of company stock valued at $123,024,715. 1.90% of the stock is owned by insiders.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

About Broadcom

(Free Report)

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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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