Broadcom Inc. (NASDAQ:AVGO) Stake Boosted by Nordea Investment Management AB

Nordea Investment Management AB grew its position in Broadcom Inc. (NASDAQ:AVGO) by 15.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 5,264,796 shares of the semiconductor manufacturer’s stock after acquiring an additional 687,050 shares during the period. Broadcom accounts for approximately 1.3% of Nordea Investment Management AB’s investment portfolio, making the stock its 10th biggest holding. Nordea Investment Management AB’s holdings in Broadcom were worth $1,239,333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of AVGO. Central Pacific Bank Trust Division grew its position 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 purchasing an additional 3,707 shares in the last quarter. jvl associates llc boosted its stake in Broadcom by 5.6% in the 4th quarter. jvl associates llc now owns 1,880 shares of the semiconductor manufacturer’s stock worth $436,000 after purchasing an additional 99 shares during the period. Everence Capital Management Inc. grew its holdings in Broadcom by 1.6% during the 4th quarter. Everence Capital Management Inc. now owns 122,410 shares of the semiconductor manufacturer’s stock valued at $28,380,000 after buying an additional 1,920 shares in the last quarter. Modus Advisors LLC raised its position in shares of Broadcom by 7.9% during the fourth quarter. Modus Advisors LLC now owns 3,444 shares of the semiconductor manufacturer’s stock valued at $798,000 after buying an additional 251 shares during the last quarter. Finally, Franchise Capital Ltd purchased a new position in shares of Broadcom in the fourth quarter worth $2,017,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Broadcom news, Director Harry L. You sold 6,540 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the sale, the director now owns 30,450 shares in the company, valued at $7,308,000. This represents a 17.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 18,900 shares of the stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total value of $3,456,432.00. Following the sale, the insider now directly owns 380,560 shares in the company, valued at $69,596,812.80. This trade represents a 4.73 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 134,128 shares of company stock worth $29,820,640. 2.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on AVGO shares. TD Cowen lifted their price target on shares of Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Susquehanna lifted their target price on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a report on Friday, December 13th. Mizuho boosted their target price on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. UBS Group raised their price target on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, Bank of America upped their price objective on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $221.88.

Broadcom Stock Up 0.2 %

Shares of AVGO opened at $232.55 on Monday. The firm has a market capitalization of $1.09 trillion, a P/E ratio of 202.04, a P/E/G ratio of 2.15 and a beta of 1.13. Broadcom Inc. has a 12-month low of $104.15 and a 12-month high of $251.88. The firm has a fifty day moving average price of $191.27 and a 200-day moving average price of $173.87. 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 (NASDAQ:AVGO) last issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. The company’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.98 EPS. Equities research analysts expect that Broadcom Inc. will post 3.79 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, December 23rd. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a yield of 1.01%. Broadcom’s payout ratio is 191.87%.

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.