Norges Bank Takes Position in Broadcom Inc. $AVGO

Norges Bank bought a new stake in Broadcom Inc. (NASDAQ:AVGO) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 67,402,681 shares of the semiconductor manufacturer’s stock, valued at approximately $18,579,549,000. Broadcom accounts for about 2.3% of Norges Bank’s portfolio, making the stock its 7th biggest position. Norges Bank owned 1.43% of Broadcom at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nuveen LLC bought a new position in shares of Broadcom during the first quarter valued at $6,649,117,000. Price T Rowe Associates Inc. MD raised its stake in shares of Broadcom by 37.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer’s stock worth $10,968,270,000 after buying an additional 17,985,046 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Broadcom by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer’s stock worth $133,261,046,000 after purchasing an additional 6,222,802 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Broadcom by 16.7% during the first quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer’s stock worth $5,333,384,000 after purchasing an additional 4,550,647 shares during the period. Finally, Deutsche Bank AG increased its holdings in Broadcom by 36.9% in the first quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer’s stock valued at $2,638,512,000 after purchasing an additional 4,245,345 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the topic of several analyst reports. Truist Financial increased their target price on shares of Broadcom from $295.00 to $365.00 and gave the stock a “buy” rating in a report on Friday, September 5th. Citigroup reaffirmed a “buy” rating and set a $415.00 price target (up from $350.00) on shares of Broadcom in a research report on Tuesday, October 14th. Sanford C. Bernstein lifted their target price on shares of Broadcom from $295.00 to $400.00 and gave the stock an “outperform” rating in a report on Friday, September 5th. KeyCorp set a $460.00 target price on shares of Broadcom in a research report on Monday, October 13th. Finally, Piper Sandler lifted their price target on shares of Broadcom from $315.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, September 5th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Broadcom currently has a consensus rating of “Buy” and an average price target of $377.61.

Broadcom Stock Performance

NASDAQ:AVGO opened at $397.57 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $399.87. The company has a fifty day moving average of $351.00 and a 200-day moving average of $305.01. The firm has a market capitalization of $1.88 trillion, a P/E ratio of 101.42, a P/E/G ratio of 1.35 and a beta of 1.19.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.03. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The business had revenue of $15.95 billion during the quarter, compared to analysts’ expectations of $15.82 billion. During the same period last year, the company posted $1.24 earnings per share. The business’s quarterly revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. As a group, sell-side analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $2.36 annualized dividend and a dividend yield of 0.6%. Broadcom’s payout ratio is presently 60.20%.

Insider Buying and Selling

In related news, Director Henry Samueli sold 368,797 shares of Broadcom stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $337.91, for a total transaction of $124,620,194.27. Following the transaction, the director owned 37,722,534 shares of the company’s stock, valued at $12,746,821,463.94. The trade was a 0.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Hock E. Tan sold 148,154 shares of the company’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $336.67, for a total transaction of $49,879,007.18. Following the completion of the sale, the chief executive officer owned 825,998 shares of the company’s stock, valued at approximately $278,088,746.66. The trade was a 15.21% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have purchased 3,550 shares of company stock valued at $1,227,869 and have sold 665,271 shares valued at $225,483,192. Company insiders own 2.00% of the company’s stock.

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.