Broadcom Inc. $AVGO is Capital International Investors’ Largest Position

Capital International Investors lessened its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.1% during the third quarter, HoldingsChannel reports. The firm owned 146,477,213 shares of the semiconductor manufacturer’s stock after selling 4,720,839 shares during the quarter. Broadcom accounts for approximately 7.8% of Capital International Investors’ investment portfolio, making the stock its largest holding. Capital International Investors’ holdings in Broadcom were worth $48,321,220,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. JCIC Asset Management Inc. acquired a new position in Broadcom in the third quarter valued at $31,000. Longfellow Investment Management Co. LLC acquired a new stake in Broadcom in the 2nd quarter worth about $27,000. Teachers Insurance & Annuity Association of America purchased a new stake in Broadcom in the 2nd quarter valued at about $28,000. Manning & Napier Advisors LLC acquired a new position in shares of Broadcom during the 3rd quarter valued at about $34,000. Finally, New England Capital Financial Advisors LLC acquired a new position in shares of Broadcom during the 2nd quarter valued at about $31,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling

In other news, CEO Hock E. Tan sold 130,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $326.02, for a total transaction of $42,382,600.00. Following the completion of the sale, the chief executive officer owned 595,638 shares of the company’s stock, valued at approximately $194,189,900.76. This trade represents a 17.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 38,281 shares of the stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $327.65, for a total transaction of $12,542,769.65. Following the transaction, the insider owned 266,494 shares in the company, valued at $87,316,759.10. This trade represents a 12.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 458,785 shares of company stock worth $155,508,157. 1.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AVGO. Royal Bank Of Canada cut their price objective on shares of Broadcom from $370.00 to $340.00 and set a “sector perform” rating on the stock in a report on Monday, March 2nd. Wall Street Zen upgraded shares of Broadcom from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Raymond James Financial set a $420.00 price target on shares of Broadcom and gave the stock an “outperform” rating in a research report on Thursday, November 20th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $475.00 price target (up from $400.00) on shares of Broadcom in a research note on Friday, December 12th. Finally, TD Cowen reiterated a “buy” rating on shares of Broadcom in a report on Friday, December 12th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $435.30.

Broadcom Stock Performance

Shares of NASDAQ:AVGO opened at $345.75 on Tuesday. The business’s 50-day simple moving average is $333.68 and its 200 day simple moving average is $343.89. The company has a market cap of $1.64 trillion, a P/E ratio of 67.53, a PEG ratio of 0.77 and a beta of 1.22. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.73 and a current ratio of 1.90. Broadcom Inc. has a one year low of $138.10 and a one year high of $414.61.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.02. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The company had revenue of $19.31 billion during the quarter, compared to the consensus estimate of $19.10 billion. During the same quarter last year, the company earned $1.60 earnings per share. Broadcom’s revenue for the quarter was up 29.5% on a year-over-year basis. On average, sell-side analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, March 23rd. Broadcom’s payout ratio is presently 50.78%.

Broadcom Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.