Forsta AP Fonden Sells 42,100 Shares of Broadcom Inc. (NASDAQ:AVGO)

Forsta AP Fonden cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,172,440 shares of the semiconductor manufacturer’s stock after selling 42,100 shares during the quarter. Broadcom comprises 1.9% of Forsta AP Fonden’s investment portfolio, making the stock its 9th biggest position. Forsta AP Fonden’s holdings in Broadcom were worth $271,818,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. State Street Corp raised its stake in Broadcom by 948.5% during the third quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock worth $31,814,902,000 after purchasing an additional 166,844,263 shares during the period. Geode Capital Management LLC raised its stake in Broadcom by 976.6% during the third quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock worth $17,055,760,000 after purchasing an additional 89,975,941 shares during the period. FMR LLC raised its stake in Broadcom by 1,121.3% during the third quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock worth $15,594,088,000 after purchasing an additional 82,998,328 shares during the period. Jennison Associates LLC raised its stake in Broadcom by 842.4% during the third quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock worth $6,209,758,000 after purchasing an additional 32,178,542 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Broadcom by 975.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer’s stock worth $5,833,894,000 after purchasing an additional 30,674,902 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Diane M. Bryant sold 15,000 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total value of $3,400,200.00. Following the completion of the transaction, the director now owns 6,460 shares in the company, valued at approximately $1,464,352.80. This represents a 69.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Charlie B. Kawwas sold 40,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the transaction, the insider now owns 696,730 shares of the company’s stock, valued at approximately $161,627,425.40. The trade was a 5.43 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 191,278 shares of company stock worth $44,964,800. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Citigroup lifted their target price on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Jefferies Financial Group boosted their price target on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Robert W. Baird boosted their price target on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, UBS Group boosted their price target on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $225.04.

Broadcom Trading Up 2.6 %

NASDAQ AVGO opened at $221.27 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 52 week low of $117.43 and a 52 week high of $251.88. The stock has a market capitalization of $1.04 trillion, a PE ratio of 180.48, a price-to-earnings-growth ratio of 2.16 and a beta of 1.03. The firm has a 50 day moving average of $212.27 and a two-hundred day moving average of $181.58.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter in the previous year, the business posted $0.98 EPS. The firm’s revenue was up 51.2% on a year-over-year basis. As a group, research analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a $0.59 dividend. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a dividend yield of 1.07%. Broadcom’s dividend payout ratio is presently 192.50%.

Broadcom 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.