AMF Tjanstepension AB Grows Position in Broadcom Inc. (NASDAQ:AVGO)

AMF Tjanstepension AB lifted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 11.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,129,101 shares of the semiconductor manufacturer's stock after purchasing an additional 114,485 shares during the quarter. Broadcom comprises about 1.9% of AMF Tjanstepension AB's portfolio, making the stock its 15th biggest position. AMF Tjanstepension AB's holdings in Broadcom were worth $261,847,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AVGO. Central Pacific Bank Trust Division lifted its stake in shares of Broadcom by 21.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer's stock worth $4,858,000 after buying an additional 3,707 shares during the period. Wolff Financial Management LLC purchased a new position in Broadcom in the 4th quarter worth $244,000. Strait & Sound Wealth Management LLC lifted its position in Broadcom by 829.8% during the 3rd quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer's stock worth $1,371,000 after acquiring an additional 7,095 shares during the period. Motive Wealth Advisors grew its stake in Broadcom by 1,076.5% during the 4th quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer's stock valued at $1,066,000 after purchasing an additional 4,209 shares during the last quarter. Finally, Tidal Investments LLC increased its holdings in shares of Broadcom by 969.3% in the third quarter. Tidal Investments LLC now owns 386,644 shares of the semiconductor manufacturer's stock valued at $66,696,000 after purchasing an additional 350,485 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

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Broadcom Price Performance

Shares of NASDAQ AVGO traded up $5.64 during midday trading on Tuesday, hitting $190.09. The stock had a trading volume of 41,968,762 shares, compared to its average volume of 29,549,196. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The stock has a 50 day simple moving average of $221.26 and a 200-day simple moving average of $193.28. The company has a market capitalization of $893.79 billion, a PE ratio of 155.05, a P/E/G ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter last year, the firm posted $0.98 EPS. The firm's revenue for the quarter was up 51.2% on a year-over-year basis. On average, sell-side analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be given a dividend of $0.59 per share. The ex-dividend date is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.24%. Broadcom's payout ratio is presently 113.46%.

Analyst Ratings Changes

A number of research firms recently commented on AVGO. Hsbc Global Res raised Broadcom to a "hold" rating in a report on Tuesday, December 3rd. Susquehanna raised their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock a "positive" rating in a research report on Friday, December 13th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $300.00 price objective on shares of Broadcom in a report on Friday. JPMorgan Chase & Co. increased their price objective on shares of Broadcom from $210.00 to $250.00 and gave the stock an "overweight" rating in a research note on Friday, December 13th. Finally, Citigroup boosted their target price on shares of Broadcom from $175.00 to $205.00 and gave the company a "buy" rating in a research report on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Broadcom presently has a consensus rating of "Moderate Buy" and a consensus price target of $231.48.

Insider Activity at Broadcom

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the business's stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the transaction, the director now directly owns 46,400 shares in the company, valued at $10,655,296. The trade was a 7.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Harry L. You sold 6,540 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the sale, the director now directly owns 30,450 shares of the company's stock, valued at approximately $7,308,000. This represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 191,278 shares of company stock valued at $44,964,800. Corporate insiders own 2.00% of the company's stock.

Broadcom Company 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.