Handelsbanken Fonder AB Raises Holdings in Broadcom Inc. (NASDAQ:AVGO)

Handelsbanken Fonder AB raised its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 52.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 269,326 shares of the semiconductor manufacturer’s stock after acquiring an additional 92,306 shares during the quarter. Broadcom comprises 1.5% of Handelsbanken Fonder AB’s investment portfolio, making the stock its 8th biggest holding. Handelsbanken Fonder AB owned about 0.06% of Broadcom worth $300,635,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Macroview Investment Management LLC acquired a new stake in shares of Broadcom in the 3rd quarter valued at about $29,000. BKM Wealth Management LLC acquired a new position in Broadcom during the 4th quarter valued at about $29,000. CKW Financial Group purchased a new position in shares of Broadcom in the 4th quarter worth approximately $30,000. VitalStone Financial LLC boosted its stake in shares of Broadcom by 71.4% in the 1st quarter. VitalStone Financial LLC now owns 60 shares of the semiconductor manufacturer’s stock worth $40,000 after buying an additional 25 shares during the last quarter. Finally, Rise Advisors LLC boosted its stake in shares of Broadcom by 33.3% in the 4th quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock worth $44,000 after buying an additional 10 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of AVGO traded down $54.28 during mid-day trading on Friday, reaching $1,204.71. 4,479,658 shares of the stock traded hands, compared to its average volume of 2,254,590. The firm has a fifty day moving average price of $1,305.11 and a 200 day moving average price of $1,120.88. The company has a market cap of $558.29 billion, a price-to-earnings ratio of 44.65, a price-to-earnings-growth ratio of 2.46 and a beta of 1.25. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. Broadcom Inc. has a 1 year low of $601.29 and a 1 year high of $1,438.17.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating the consensus estimate 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 prior year, the business posted $9.83 earnings per share. The company’s revenue was up 34.2% on a year-over-year basis. As a group, equities research analysts predict that Broadcom Inc. will post 35.88 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders 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 yield of 1.74%. Broadcom’s dividend payout ratio (DPR) is currently 77.84%.

Insider Transactions at Broadcom

In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the completion of the sale, the director now owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the completion of the transaction, the director now owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 5,000 shares of Broadcom stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the completion of the sale, the insider now owns 16,575 shares in the company, valued at $22,276,800. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,920 shares of company stock worth $40,306,667. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AVGO. Mizuho boosted their target price on Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Cantor Fitzgerald lifted their price target on shares of Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. Benchmark reaffirmed a “buy” rating and issued a $1,720.00 price target on shares of Broadcom in a report on Thursday, March 21st. Barclays lifted their price target on shares of Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, StockNews.com cut shares of Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,285.41.

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.