Capital International Investors Increases Stock Position in Broadcom Inc (NASDAQ:AVGO)

Capital International Investors increased its position in Broadcom Inc (NASDAQ:AVGO) by 7.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,539,532 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,089,628 shares during the period. Broadcom makes up approximately 3.2% of Capital International Investors’ holdings, making the stock its 2nd biggest position. Capital International Investors owned 7.43% of Broadcom worth $9,335,080,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. State Street Corp raised its position in Broadcom by 0.9% in the 4th quarter. State Street Corp now owns 16,344,681 shares of the semiconductor manufacturer’s stock worth $5,165,246,000 after buying an additional 138,951 shares during the last quarter. Amundi Pioneer Asset Management Inc. increased its position in shares of Broadcom by 35.0% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 1,907,456 shares of the semiconductor manufacturer’s stock valued at $602,751,000 after purchasing an additional 494,761 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Broadcom by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,780,511 shares of the semiconductor manufacturer’s stock valued at $562,678,000 after purchasing an additional 90,300 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Broadcom by 3.1% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,621,093 shares of the semiconductor manufacturer’s stock valued at $512,298,000 after purchasing an additional 48,090 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Broadcom by 11.9% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,611,359 shares of the semiconductor manufacturer’s stock valued at $509,222,000 after purchasing an additional 171,373 shares during the last quarter. Institutional investors own 83.02% of the company’s stock.

In other Broadcom news, CEO Hock E. Tan sold 73,646 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $198.18, for a total value of $14,595,164.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 420,938 shares of company stock valued at $121,050,177 over the last 90 days. 3.30% of the stock is currently owned by corporate insiders.

Broadcom stock traded up $23.22 during midday trading on Thursday, hitting $240.77. The stock had a trading volume of 2,765,595 shares, compared to its average volume of 5,157,263. The firm’s fifty day moving average is $271.75 and its two-hundred day moving average is $294.91. The company has a market capitalization of $85.06 billion, a PE ratio of 39.73, a P/E/G ratio of 1.13 and a beta of 0.87. Broadcom Inc has a 52-week low of $155.67 and a 52-week high of $331.58. The company has a current ratio of 1.56, a quick ratio of 1.44 and a debt-to-equity ratio of 1.58.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, March 12th. The semiconductor manufacturer reported $5.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $5.33 by ($0.08). Broadcom had a return on equity of 69.53% and a net margin of 11.64%. The business had revenue of $5.86 billion during the quarter, compared to the consensus estimate of $5.99 billion. During the same quarter in the previous year, the company earned $5.55 earnings per share. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, equities research analysts predict that Broadcom Inc will post 18.07 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd will be paid a $3.25 dividend. The ex-dividend date of this dividend is Friday, March 20th. This represents a $13.00 annualized dividend and a yield of 5.40%. Broadcom’s payout ratio is 74.67%.

Several equities research analysts have recently commented on AVGO shares. SunTrust Banks reduced their price target on shares of Broadcom from $366.00 to $300.00 and set a “buy” rating for the company in a research report on Friday, March 13th. They noted that the move was a valuation call. Royal Bank of Canada reduced their price target on shares of Broadcom from $360.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, March 13th. Cowen upped their price target on shares of Broadcom from $285.00 to $310.00 and gave the company a “market perform” rating in a research report on Friday, December 13th. New Street Research reaffirmed a “buy” rating and set a price target on shares of Broadcom in a research report on Wednesday, January 22nd. Finally, Wells Fargo & Co reaffirmed a “hold” rating on shares of Broadcom in a research report on Friday, March 13th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-eight have given a buy rating to the stock. Broadcom presently has a consensus rating of “Buy” and a consensus price target of $313.81.

About Broadcom

Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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