Capital International Sarl Acquires 34,157 Shares of Broadcom Inc. $AVGO

Capital International Sarl lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,029,444 shares of the semiconductor manufacturer’s stock after buying an additional 34,157 shares during the period. Broadcom makes up approximately 5.9% of Capital International Sarl’s holdings, making the stock its 3rd largest position. Capital International Sarl’s holdings in Broadcom were worth $339,624,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Capital International Ltd. CA increased its holdings in Broadcom by 0.6% in the third quarter. Capital International Ltd. CA now owns 464,914 shares of the semiconductor manufacturer’s stock valued at $153,380,000 after buying an additional 2,836 shares in the last quarter. Capital International Inc. CA grew its position in Broadcom by 9.2% during the third quarter. Capital International Inc. CA now owns 2,416,180 shares of the semiconductor manufacturer’s stock valued at $797,122,000 after acquiring an additional 202,727 shares during the period. Capital Group Investment Management PTE. LTD. raised its holdings in Broadcom by 0.6% in the third quarter. Capital Group Investment Management PTE. LTD. now owns 101,405 shares of the semiconductor manufacturer’s stock valued at $33,455,000 after buying an additional 613 shares during the period. Legal & General Group Plc raised its position in Broadcom by 2.3% in the third quarter. Legal & General Group Plc now owns 33,450,786 shares of the semiconductor manufacturer’s stock valued at $11,035,749,000 after purchasing an additional 748,709 shares during the period. Finally, Vestcor Inc boosted its holdings in Broadcom by 1.3% in the 3rd quarter. Vestcor Inc now owns 117,336 shares of the semiconductor manufacturer’s stock worth $38,710,000 after acquiring an additional 1,470 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity

In other news, insider Mark David Brazeal sold 38,281 shares of the company’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $327.65, for a total transaction of $12,542,769.65. Following the completion of the sale, the insider owned 266,494 shares in the company, valued at approximately $87,316,759.10. This represents a 12.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kirsten M. Spears sold 30,000 shares of the stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $347.82, for a total value of $10,434,600.00. Following the transaction, the chief financial officer directly owned 277,237 shares in the company, valued at approximately $96,428,573.34. This represents a 9.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 458,785 shares of company stock worth $155,508,157. 1.90% of the stock is owned by corporate insiders.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $345.75 on Tuesday. The stock’s fifty day simple moving average is $333.68 and its 200 day simple moving average is $343.89. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $1.64 trillion, a price-to-earnings ratio of 67.53, a PEG ratio of 0.77 and a beta of 1.22. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $414.61.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.02. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The firm had revenue of $19.31 billion for the quarter, compared to analysts’ expectations of $19.10 billion. During the same period in the previous year, the company posted $1.60 EPS. The company’s quarterly revenue was up 29.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, March 23rd. Broadcom’s payout ratio is currently 50.78%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AVGO shares. Royal Bank Of Canada cut their target price on shares of Broadcom from $370.00 to $340.00 and set a “sector perform” rating on the stock in a research note on Monday, March 2nd. Deutsche Bank Aktiengesellschaft set a $430.00 price target on shares of Broadcom and gave the company a “buy” rating in a report on Friday, December 12th. Susquehanna reissued a “positive” rating and issued a $450.00 price target (up from $400.00) on shares of Broadcom in a report on Thursday, December 4th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $475.00 target price (up from $400.00) on shares of Broadcom in a research note on Friday, December 12th. Finally, Mizuho set a $480.00 price target on Broadcom and gave the company an “outperform” rating in a report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and an average target price of $435.30.

Broadcom Company 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.