Broadcom Inc. $AVGO is Public Sector Pension Investment Board’s 5th Largest Position

Public Sector Pension Investment Board lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 9.6% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,921,754 shares of the semiconductor manufacturer’s stock after selling 204,869 shares during the period. Broadcom makes up approximately 2.3% of Public Sector Pension Investment Board’s holdings, making the stock its 5th biggest position. Public Sector Pension Investment Board’s holdings in Broadcom were worth $529,731,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Assetmark Inc. increased its holdings in shares of Broadcom by 2.4% in the second quarter. Assetmark Inc. now owns 1,703,487 shares of the semiconductor manufacturer’s stock valued at $469,566,000 after purchasing an additional 39,466 shares during the period. Capital Counsel LLC NY acquired a new position in Broadcom in the 2nd quarter worth approximately $221,000. Waterloo Capital L.P. raised its position in Broadcom by 7.0% during the 2nd quarter. Waterloo Capital L.P. now owns 48,361 shares of the semiconductor manufacturer’s stock worth $13,331,000 after buying an additional 3,180 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in Broadcom by 27.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 64,130 shares of the semiconductor manufacturer’s stock valued at $10,737,000 after acquiring an additional 13,978 shares during the period. Finally, RiverFront Investment Group LLC boosted its holdings in shares of Broadcom by 107.6% in the 2nd quarter. RiverFront Investment Group LLC now owns 16,524 shares of the semiconductor manufacturer’s stock valued at $4,555,000 after acquiring an additional 8,566 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Broadcom

In related news, CEO Hock E. Tan sold 100,000 shares of the company’s stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $339.58, for a total transaction of $33,958,000.00. Following the completion of the transaction, the chief executive officer owned 725,638 shares in the company, valued at $246,412,152.04. This represents a 12.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 3,893 shares of Broadcom stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total value of $1,354,063.26. Following the completion of the sale, the insider owned 25,295 shares in the company, valued at approximately $8,798,106.90. The trade was a 13.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 837,433 shares of company stock valued at $303,900,352. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO stock opened at $359.93 on Friday. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $414.61. The business’s 50 day moving average is $363.17 and its two-hundred day moving average is $317.95. The company has a market capitalization of $1.70 trillion, a P/E ratio of 75.62, a P/E/G ratio of 1.22 and a beta of 1.19.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, December 11th. The semiconductor manufacturer reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $0.08. Broadcom had a return on equity of 38.82% and a net margin of 36.20%.The business had revenue of $18.02 billion during the quarter, compared to analysts’ expectations of $17.46 billion. During the same period in the previous year, the business earned $1.42 earnings per share. The business’s revenue was up 28.2% compared to the same quarter last year. Analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, December 22nd. This is a positive change from Broadcom’s previous quarterly dividend of $0.59. This represents a $2.60 annualized dividend and a yield of 0.7%. Broadcom’s payout ratio is 49.58%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. The Goldman Sachs Group set a $435.00 target price on shares of Broadcom and gave the stock a “buy” rating in a report on Tuesday, November 25th. Wall Street Zen upgraded Broadcom from a “hold” rating to a “buy” rating in a research note on Saturday. Rosenblatt Securities upped their target price on Broadcom from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Tuesday, December 9th. UBS Group reaffirmed a “buy” rating and set a $472.00 target price (up from $415.00) on shares of Broadcom in a report on Monday, December 1st. Finally, Robert W. Baird set a $420.00 price target on Broadcom in a report on Friday. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $435.85.

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.