Broadcom Inc. (NASDAQ:AVGO) Stock Position Raised by California Public Employees Retirement System

California Public Employees Retirement System grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 19.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,431,489 shares of the semiconductor manufacturer’s stock after purchasing an additional 234,684 shares during the period. Broadcom comprises approximately 1.2% of California Public Employees Retirement System’s investment portfolio, making the stock its 12th largest position. California Public Employees Retirement System’s holdings in Broadcom were worth $1,597,900,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Northern Trust Corp raised its holdings in shares of Broadcom by 2.1% during the third quarter. Northern Trust Corp now owns 4,655,402 shares of the semiconductor manufacturer’s stock worth $3,866,684,000 after acquiring an additional 93,615 shares in the last quarter. Wellington Management Group LLP grew its position in Broadcom by 43.9% during the third quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer’s stock worth $3,343,631,000 after buying an additional 1,228,755 shares in the last quarter. FMR LLC grew its position in Broadcom by 16.7% during the third quarter. FMR LLC now owns 4,019,122 shares of the semiconductor manufacturer’s stock worth $3,338,203,000 after buying an additional 573,826 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Broadcom by 113,495.7% during the fourth quarter. International Assets Investment Management LLC now owns 3,327,217 shares of the semiconductor manufacturer’s stock valued at $37,140,060,000 after purchasing an additional 3,324,288 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Broadcom by 19.1% during the third quarter. Invesco Ltd. now owns 3,206,601 shares of the semiconductor manufacturer’s stock valued at $2,663,339,000 after purchasing an additional 514,120 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In other news, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the transaction, the insider now directly owns 16,575 shares in the company, valued at approximately $22,276,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Justine Page sold 110 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the transaction, the director now owns 3,125 shares in the company, valued at approximately $4,134,375. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 5,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the completion of the transaction, the insider now owns 16,575 shares in the company, valued at approximately $22,276,800. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock worth $40,306,667 in the last ninety days. Insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of research analyst reports. StockNews.com cut shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Barclays lifted their target price on shares of Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $1,700.00 target price on shares of Broadcom in a report on Thursday, March 21st. Evercore ISI initiated coverage on shares of Broadcom in a report on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 target price for the company. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $1,285.41.

Broadcom Stock Up 1.6 %

NASDAQ:AVGO traded up $19.75 on Monday, hitting $1,224.46. 2,514,709 shares of the company’s stock were exchanged, compared to its average volume of 2,962,551. The firm has a 50-day moving average price of $1,305.11 and a 200-day moving average price of $1,122.97. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. Broadcom Inc. has a 52 week low of $601.29 and a 52 week high of $1,438.17. The company has a market cap of $567.44 billion, a P/E ratio of 44.78, a price-to-earnings-growth ratio of 2.46 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last issued 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. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The firm had revenue of $11.96 billion for the quarter, compared to analysts’ expectations of $11.79 billion. During the same period in the previous year, the firm posted $9.83 EPS. The company’s revenue for the quarter was up 34.2% on a year-over-year basis. As a group, analysts expect that Broadcom Inc. will post 35.88 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were given a dividend of $5.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.72%. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

About Broadcom

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.