Vanguard Personalized Indexing Management LLC Raises Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 15.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 48,493 shares of the semiconductor manufacturer’s stock after acquiring an additional 6,652 shares during the quarter. Broadcom makes up approximately 1.5% of Vanguard Personalized Indexing Management LLC’s portfolio, making the stock its 8th largest holding. Vanguard Personalized Indexing Management LLC’s holdings in Broadcom were worth $77,857,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Broadcom by 3.0% in the first quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock valued at $59,181,244,000 after purchasing an additional 1,303,462 shares during the period. Capital International Investors raised its position in shares of Broadcom by 4.5% in the fourth quarter. Capital International Investors now owns 23,330,880 shares of the semiconductor manufacturer’s stock valued at $26,044,294,000 after purchasing an additional 1,006,223 shares during the period. Northern Trust Corp raised its position in shares of Broadcom by 3.7% in the fourth quarter. Northern Trust Corp now owns 4,825,465 shares of the semiconductor manufacturer’s stock valued at $5,386,425,000 after purchasing an additional 170,063 shares during the period. Jennison Associates LLC raised its position in shares of Broadcom by 43.9% in the first quarter. Jennison Associates LLC now owns 4,141,025 shares of the semiconductor manufacturer’s stock valued at $5,488,556,000 after purchasing an additional 1,263,957 shares during the period. Finally, GQG Partners LLC raised its position in shares of Broadcom by 48.9% in the first quarter. GQG Partners LLC now owns 2,992,833 shares of the semiconductor manufacturer’s stock valued at $3,966,730,000 after purchasing an additional 983,328 shares during the period. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 7,502 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the transaction, the chief executive officer now directly owns 138,191 shares in the company, valued at approximately $235,746,936.45. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Hock E. Tan sold 7,502 shares of the stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the sale, the chief executive officer now directly owns 138,191 shares in the company, valued at approximately $235,746,936.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Justine Page sold 2,540 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $175.03, for a total transaction of $444,566.04. Following the completion of the sale, the director now owns 27,480 shares in the company, valued at $4,809,714.48. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

Broadcom stock opened at $162.47 on Wednesday. The stock has a 50-day simple moving average of $157.17 and a 200 day simple moving average of $146.21. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 12-month low of $79.51 and a 12-month high of $185.16. The stock has a market capitalization of $756.28 billion, a price-to-earnings ratio of 6.99, a P/E/G ratio of 2.55 and a beta of 1.16.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. During the same period in the previous year, the business posted $0.95 earnings per share. The firm’s revenue for the quarter was up 47.3% compared to the same quarter last year. On average, research analysts anticipate that Broadcom Inc. will post 3.77 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 19th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, September 19th. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a yield of 1.30%. Broadcom’s dividend payout ratio is presently 9.12%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on AVGO shares. Piper Sandler lifted their price target on shares of Broadcom from $165.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, June 13th. StockNews.com downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Oppenheimer lowered their price objective on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 16th. JPMorgan Chase & Co. raised their price objective on shares of Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Finally, Truist Financial raised their price objective on shares of Broadcom from $156.60 to $204.50 and gave the stock a “buy” rating in a research note on Thursday, June 13th. Two investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $189.23.

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.