Broadcom Inc. $AVGO is Capital International Ltd. CA’s 3rd Largest Position

Capital International Ltd. CA raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 464,914 shares of the semiconductor manufacturer’s stock after buying an additional 2,836 shares during the quarter. Broadcom comprises approximately 5.5% of Capital International Ltd. CA’s holdings, making the stock its 3rd largest holding. Capital International Ltd. CA’s holdings in Broadcom were worth $153,380,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Broadcom by 1.3% during the second quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer’s stock valued at $133,261,046,000 after acquiring an additional 6,222,802 shares in the last quarter. State Street Corp lifted its position in shares of Broadcom by 0.5% during the 2nd quarter. State Street Corp now owns 185,276,987 shares of the semiconductor manufacturer’s stock valued at $51,071,601,000 after buying an additional 873,963 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Broadcom by 2.1% during the second quarter. Geode Capital Management LLC now owns 108,610,718 shares of the semiconductor manufacturer’s stock worth $29,827,649,000 after purchasing an additional 2,226,585 shares in the last quarter. Norges Bank purchased a new stake in shares of Broadcom during the second quarter worth approximately $18,579,549,000. Finally, Invesco Ltd. boosted its stake in Broadcom by 8.4% during the second quarter. Invesco Ltd. now owns 38,449,630 shares of the semiconductor manufacturer’s stock worth $10,598,641,000 after buying an additional 2,978,768 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Harry L. You bought 1,000 shares of the business’s stock in a transaction that occurred on Thursday, December 18th. The stock was acquired at an average price of $325.13 per share, for a total transaction of $325,130.00. Following the transaction, the director directly owned 36,602 shares of the company’s stock, valued at $11,900,408.26. This represents a 2.81% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Hock E. Tan sold 70,000 shares of the firm’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $347.30, for a total value of $24,311,000.00. Following the sale, the chief executive officer directly owned 132,836 shares of the company’s stock, valued at $46,133,942.80. This represents a 34.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 458,785 shares of company stock valued at $155,508,157. 1.90% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on AVGO. Susquehanna reiterated a “positive” rating and issued a $450.00 target price (up from $400.00) on shares of Broadcom in a report on Thursday, December 4th. Rosenblatt Securities upped their target price on Broadcom from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Wolfe Research upgraded Broadcom from a “peer perform” rating to an “outperform” rating and set a $400.00 price target for the company in a research note on Friday, January 30th. Mizuho set a $480.00 price target on shares of Broadcom and gave the company an “outperform” rating in a research report on Friday, January 9th. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $475.00 price objective (up from $400.00) on shares of Broadcom in a research report on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and an average target price of $435.30.

Broadcom Trading Up 4.6%

Shares of NASDAQ:AVGO opened at $345.75 on Tuesday. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80. Broadcom Inc. has a fifty-two week low of $138.10 and a fifty-two week high of $414.61. The company’s 50-day moving average price is $333.68 and its 200 day moving average price is $343.89. The company has a market cap of $1.64 trillion, a PE ratio of 67.53, a P/E/G ratio of 0.77 and a beta of 1.22.

Broadcom (NASDAQ:AVGO) last released its 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. The business had revenue of $19.31 billion during the quarter, compared to analyst estimates of $19.10 billion. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The business’s quarterly revenue was up 29.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.60 earnings per share. Sell-side analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

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

Broadcom 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.