Broadcom Inc. $AVGO is Skandinaviska Enskilda Banken AB publ’s 6th Largest Position

Skandinaviska Enskilda Banken AB publ cut its stake in shares of Broadcom Inc. (NASDAQ:AVGOFree Report) by 9.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,053,901 shares of the semiconductor manufacturer’s stock after selling 212,387 shares during the period. Broadcom makes up 2.7% of Skandinaviska Enskilda Banken AB publ’s holdings, making the stock its 6th biggest holding. Skandinaviska Enskilda Banken AB publ’s holdings in Broadcom were worth $677,602,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of AVGO. Hill Island Financial LLC lifted its holdings in Broadcom by 7.1% during the 3rd quarter. Hill Island Financial LLC now owns 4,111 shares of the semiconductor manufacturer’s stock worth $1,356,000 after buying an additional 271 shares in the last quarter. Summitry LLC lifted its holdings in Broadcom by 79.4% during the 3rd quarter. Summitry LLC now owns 7,013 shares of the semiconductor manufacturer’s stock worth $2,314,000 after buying an additional 3,104 shares during the last quarter. Mmbg Investment Advisors CO. boosted its holdings in Broadcom by 4.9% in the third quarter. Mmbg Investment Advisors CO. now owns 52,902 shares of the semiconductor manufacturer’s stock valued at $17,453,000 after purchasing an additional 2,471 shares in the last quarter. Zions Bancorporation National Association UT grew its position in shares of Broadcom by 2.2% in the 3rd quarter. Zions Bancorporation National Association UT now owns 47,928 shares of the semiconductor manufacturer’s stock valued at $15,812,000 after buying an additional 1,011 shares during the last quarter. Finally, Atticus Wealth Management LLC grew its holdings in shares of Broadcom by 38.7% during the third quarter. Atticus Wealth Management LLC now owns 9,532 shares of the semiconductor manufacturer’s stock worth $3,145,000 after purchasing an additional 2,659 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

Broadcom Price Performance

Shares of Broadcom stock opened at $333.51 on Thursday. The business’s fifty day moving average price is $339.29 and its 200 day moving average price is $341.27. The stock has a market capitalization of $1.58 trillion, a P/E ratio of 70.07, a PEG ratio of 1.07 and a beta of 1.21. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $414.61. The company has a current ratio of 1.71, a quick ratio of 1.58 and a debt-to-equity ratio of 0.76.

Broadcom (NASDAQ:AVGOGet Free Report) last posted its quarterly earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 EPS for the quarter, beating the consensus estimate of $1.87 by $0.08. Broadcom had a net margin of 36.20% and a return on equity of 37.45%. The firm had revenue of $18.02 billion for the quarter, compared to analyst estimates of $17.46 billion. During the same quarter last year, the firm posted $1.42 earnings per share. Broadcom’s revenue for the quarter was up 28.2% compared to the same quarter last year. As a group, research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 22nd were given a dividend of $0.65 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Monday, December 22nd. This represents a $2.60 annualized dividend and a yield of 0.8%. Broadcom’s dividend payout ratio is presently 54.62%.

Insider Buying and Selling at Broadcom

In other news, Director Harry L. You acquired 1,000 shares of the business’s stock in a transaction on Thursday, December 18th. The shares were purchased at an average price of $325.13 per share, for a total transaction of $325,130.00. Following the acquisition, the director directly owned 36,602 shares of the company’s stock, valued at $11,900,408.26. This represents a 2.81% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 1,928 shares of Broadcom stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $327.80, for a total value of $631,998.40. Following the sale, the insider directly owned 23,582 shares in the company, valued at approximately $7,730,179.60. The trade was a 7.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 779,101 shares of company stock worth $283,804,325. 2.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on AVGO shares. UBS Group set a $475.00 target price on shares of Broadcom and gave the company a “buy” rating in a report on Monday, December 15th. DA Davidson raised Broadcom to a “hold” rating in a report on Friday, February 13th. Barclays restated an “overweight” rating and issued a $500.00 price target (up previously from $450.00) on shares of Broadcom in a report on Friday, December 12th. Mizuho set a $480.00 price objective on shares of Broadcom and gave the company an “outperform” rating in a research note on Friday, January 9th. Finally, Wells Fargo & Company raised Broadcom from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $410.00 to $430.00 in a research report on Thursday, January 15th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $433.13.

Get Our Latest Research Report on Broadcom

Broadcom Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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