Swiss National Bank Has $2.26 Billion Holdings in Broadcom Inc. (NASDAQ:AVGO)

Swiss National Bank lifted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 907.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,125,930 shares of the semiconductor manufacturer's stock after buying an additional 11,822,467 shares during the period. Broadcom makes up 1.5% of Swiss National Bank's holdings, making the stock its 8th biggest position. Swiss National Bank owned 0.28% of Broadcom worth $2,264,223,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the company. S&CO Inc. increased its stake in Broadcom by 580.0% in the third quarter. S&CO Inc. now owns 1,700 shares of the semiconductor manufacturer's stock valued at $293,000 after purchasing an additional 1,450 shares during the last quarter. Thrivent Financial for Lutherans increased its position in Broadcom by 1,141.6% during the third quarter. Thrivent Financial for Lutherans now owns 1,288,906 shares of the semiconductor manufacturer's stock worth $222,337,000 after purchasing an additional 1,185,092 shares during the last quarter. Claro Advisors LLC grew its stake in shares of Broadcom by 1,046.2% in the third quarter. Claro Advisors LLC now owns 45,870 shares of the semiconductor manufacturer's stock valued at $7,913,000 after buying an additional 41,868 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE grew its stake in Broadcom by 900.0% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 2,650 shares of the semiconductor manufacturer's stock worth $457,000 after purchasing an additional 2,385 shares in the last quarter. Finally, Cardano Risk Management B.V. grew its position in shares of Broadcom by 931.0% during the third quarter. Cardano Risk Management B.V. now owns 1,149,742 shares of the semiconductor manufacturer's stock worth $198,330,000 after acquiring an additional 1,038,223 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the sale, the insider now directly owns 737,330 shares of the company's stock, valued at $133,781,155.20. This trade represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark David Brazeal sold 20,280 shares of the company's stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the transaction, the insider now owns 399,460 shares in the company, valued at approximately $70,744,366. This trade represents a 4.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock worth $53,540,590 in the last 90 days. 2.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of recent research reports. William Blair began coverage on shares of Broadcom in a report on Wednesday, September 18th. They issued an "outperform" rating for the company. JPMorgan Chase & Co. boosted their price objective on shares of Broadcom from $200.00 to $210.00 and gave the stock an "overweight" rating in a research report on Friday, September 6th. Rosenblatt Securities reduced their target price on shares of Broadcom from $2,400.00 to $240.00 and set a "buy" rating for the company in a research report on Friday, September 6th. The Goldman Sachs Group boosted their target price on shares of Broadcom from $185.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, September 6th. Finally, StockNews.com downgraded shares of Broadcom from a "buy" rating to a "hold" rating in a research report on Tuesday, July 23rd. Two research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $192.79.

Broadcom Stock Down 1.1 %

Shares of NASDAQ:AVGO traded down $1.87 on Wednesday, reaching $163.48. The company had a trading volume of 10,918,586 shares, compared to its average volume of 29,340,324. The firm's 50 day simple moving average is $173.68 and its 200-day simple moving average is $159.82. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 52-week low of $90.31 and a 52-week high of $186.42. The firm has a market capitalization of $763.55 billion, a PE ratio of 141.31, a PEG ratio of 1.94 and a beta of 1.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating analysts' consensus estimates of $1.20 by $0.04. The business had revenue of $13.07 billion during the quarter, compared to analysts' expectations of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company's quarterly revenue was up 47.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.95 earnings per share. As a group, analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.30%. This is a boost from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. Broadcom's payout ratio is 184.35%.

About Broadcom

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.