Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt decreased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 9.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,432 shares of the semiconductor manufacturer’s stock after selling 1,330 shares during the quarter. Broadcom makes up approximately 1.2% of Livforsakringsbolaget Skandia Omsesidigt’s holdings, making the stock its 13th biggest holding. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Broadcom were worth $11,642,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. Kozak & Associates Inc. increased its holdings in shares of Broadcom by 4.3% during the second quarter. Kozak & Associates Inc. now owns 292 shares of the semiconductor manufacturer’s stock worth $256,000 after buying an additional 12 shares in the last quarter. Verity Asset Management Inc. increased its holdings in shares of Broadcom by 3.0% in the first quarter. Verity Asset Management Inc. now owns 509 shares of the semiconductor manufacturer’s stock valued at $327,000 after purchasing an additional 15 shares in the last quarter. Rosenberg Matthew Hamilton raised its position in Broadcom by 3.1% in the 1st quarter. Rosenberg Matthew Hamilton now owns 531 shares of the semiconductor manufacturer’s stock worth $341,000 after purchasing an additional 16 shares during the last quarter. Silver Oak Securities Incorporated increased its stake in shares of Broadcom by 2.9% in the 1st quarter. Silver Oak Securities Incorporated now owns 572 shares of the semiconductor manufacturer’s stock valued at $367,000 after buying an additional 16 shares during the period. Finally, ETF Managers Group LLC raised its holdings in Broadcom by 1.5% during the 1st quarter. ETF Managers Group LLC now owns 1,164 shares of the semiconductor manufacturer’s stock worth $747,000 after purchasing an additional 17 shares during the last quarter. Institutional investors own 78.81% of the company’s stock.

Broadcom Price Performance

Broadcom stock traded up $16.05 during midday trading on Thursday, reaching $868.98. The company’s stock had a trading volume of 574,995 shares, compared to its average volume of 2,488,458. The business has a 50-day moving average price of $874.66 and a 200-day moving average price of $757.88. Broadcom Inc. has a 52 week low of $415.07 and a 52 week high of $923.67. The company has a current ratio of 2.50, a quick ratio of 2.13 and a debt-to-equity ratio of 1.73. The stock has a market cap of $358.66 billion, a PE ratio of 26.23, a price-to-earnings-growth ratio of 1.66 and a beta of 1.10.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, August 31st. The semiconductor manufacturer reported $10.54 earnings per share for the quarter, topping analysts’ consensus estimates of $10.43 by $0.11. Broadcom had a net margin of 39.25% and a return on equity of 74.31%. The firm had revenue of $8.85 billion for the quarter, compared to analysts’ expectations of $8.85 billion. During the same quarter in the previous year, the firm posted $9.07 earnings per share. The company’s revenue was up 4.5% on a year-over-year basis. On average, sell-side analysts predict that Broadcom Inc. will post 37.88 EPS for the current year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, September 21st will be issued a dividend of $4.60 per share. This represents a $18.40 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend is Wednesday, September 20th. Broadcom’s payout ratio is 56.58%.

Analyst Upgrades and Downgrades

AVGO has been the subject of several analyst reports. Needham & Company LLC lifted their price target on shares of Broadcom from $33.00 to $44.00 in a research report on Friday, September 1st. TD Cowen boosted their price objective on shares of Broadcom from $800.00 to $900.00 and gave the company a “market perform” rating in a report on Friday, September 1st. Bank of America lifted their target price on Broadcom from $950.00 to $1,050.00 in a report on Thursday, June 22nd. Mizuho increased their price target on Broadcom from $840.00 to $960.00 in a report on Friday, September 1st. Finally, BMO Capital Markets lifted their price objective on Broadcom from $890.00 to $1,000.00 and gave the company an “outperform” rating in a report on Friday, September 1st. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and an average target price of $846.14.

Insider Activity at Broadcom

In related news, Director Check Kian Low purchased 11,000 shares of Broadcom stock in a transaction on Wednesday, September 6th. The shares were purchased at an average price of $872.03 per share, for a total transaction of $9,592,330.00. Following the transaction, the director now owns 15,951 shares of the company’s stock, valued at approximately $13,909,750.53. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.20% of the stock is currently owned by company insiders.

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.