Broadcom Inc. $AVGO is Oregon Public Employees Retirement Fund’s 6th Largest Position

Oregon Public Employees Retirement Fund increased its position in Broadcom Inc. (NASDAQ:AVGO) by 0.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 540,860 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,279 shares during the quarter. Broadcom makes up about 2.4% of Oregon Public Employees Retirement Fund’s investment portfolio, making the stock its 6th largest holding. Oregon Public Employees Retirement Fund’s holdings in Broadcom were worth $187,192,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AVGO. Arrowstreet Capital Limited Partnership lifted its stake in shares of Broadcom by 499.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer’s stock valued at $1,858,789,000 after purchasing an additional 4,694,313 shares during the period. Vanguard Group Inc. lifted its stake in shares of Broadcom by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock valued at $167,064,997,000 after purchasing an additional 3,919,715 shares during the period. Nordea Investment Management AB raised its stake in Broadcom by 47.5% during the fourth quarter. Nordea Investment Management AB now owns 9,814,757 shares of the semiconductor manufacturer’s stock valued at $3,406,211,000 after buying an additional 3,160,586 shares during the last quarter. Danske Bank A S purchased a new position in Broadcom during the third quarter valued at $987,488,000. Finally, PFA Pension Forsikringsaktieselskab purchased a new position in Broadcom during the fourth quarter valued at $924,858,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Citigroup reiterated a “buy” rating and set a $500.00 price objective (up from $475.00) on shares of Broadcom in a research note on Tuesday, May 12th. Wolfe Research upgraded Broadcom from a “peer perform” rating to an “outperform” rating and set a $400.00 price objective for the company in a research note on Friday, January 30th. Morgan Stanley lifted their price objective on Broadcom from $462.00 to $470.00 and gave the company an “overweight” rating in a research note on Friday, March 6th. Royal Bank Of Canada lowered their price objective on Broadcom from $370.00 to $340.00 and set a “sector perform” rating for the company in a research note on Monday, March 2nd. Finally, UBS Group reiterated a “buy” rating and set a $490.00 price objective (up from $475.00) on shares of Broadcom in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $442.13.

Broadcom Stock Performance

Shares of AVGO opened at $420.71 on Tuesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.90 and a quick ratio of 1.73. Broadcom Inc. has a one year low of $221.60 and a one year high of $442.36. The firm has a market capitalization of $1.99 trillion, a P/E ratio of 82.17, a PEG ratio of 0.88 and a beta of 1.43. The business has a fifty day moving average of $367.36 and a 200 day moving average of $354.90.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, topping the consensus estimate of $2.03 by $0.02. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The company had revenue of $19.31 billion during the quarter, compared to analyst estimates of $19.10 billion. During the same quarter in the previous year, the company posted $1.60 earnings per share. Broadcom’s revenue was up 29.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Broadcom Inc. will post 9.95 EPS for the current year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 23rd were issued a $0.65 dividend. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $2.60 annualized dividend and a dividend yield of 0.6%. Broadcom’s payout ratio is presently 50.78%.

Insider Buying and Selling

In related news, Director Justine Page sold 2,018 shares of Broadcom stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $353.00, for a total value of $712,354.00. Following the completion of the sale, the director owned 18,164 shares of the company’s stock, valued at $6,411,892. The trade was a 10.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gayla J. Delly sold 1,000 shares of Broadcom stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $358.31, for a total value of $358,310.00. Following the completion of the sale, the director directly owned 32,352 shares of the company’s stock, valued at $11,592,045.12. The trade was a 3.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 324,282 shares of company stock valued at $106,425,249 over the last ninety days. 1.90% of the stock is owned by insiders.

About Broadcom

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.