Temasek Holdings Private Ltd Has $684.38 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Temasek Holdings Private Ltd lessened its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,951,931 shares of the semiconductor manufacturer’s stock after selling 25,797 shares during the quarter. Broadcom accounts for approximately 2.7% of Temasek Holdings Private Ltd’s holdings, making the stock its 13th largest holding. Temasek Holdings Private Ltd owned 0.06% of Broadcom worth $684,376,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Broadcom during the fourth quarter worth $16,893,010,000. Price T Rowe Associates Inc. MD boosted its stake in Broadcom by 46.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 47,524,533 shares of the semiconductor manufacturer’s stock worth $11,018,089,000 after purchasing an additional 15,171,849 shares during the period. GQG Partners LLC boosted its stake in Broadcom by 200.0% in the 4th quarter. GQG Partners LLC now owns 10,213,160 shares of the semiconductor manufacturer’s stock worth $2,367,819,000 after purchasing an additional 6,809,245 shares during the period. Vanguard Group Inc. increased its holdings in Broadcom by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer’s stock worth $110,155,206,000 after purchasing an additional 6,573,204 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Broadcom by 27.4% in the 4th quarter. Franklin Resources Inc. now owns 26,897,909 shares of the semiconductor manufacturer’s stock valued at $6,236,011,000 after purchasing an additional 5,783,988 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity at Broadcom

In other Broadcom news, Director Justine Page sold 800 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $230.19, for a total transaction of $184,152.00. Following the transaction, the director now owns 26,182 shares in the company, valued at $6,026,834.58. This trade represents a 2.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark David Brazeal sold 30,000 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the completion of the sale, the insider now directly owns 490,956 shares of the company’s stock, valued at approximately $95,564,585.40. The trade was a 5.76% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 720,576 shares of company stock worth $131,249,694. Insiders own 2.00% of the company’s stock.

Broadcom Trading Down 1.7%

AVGO stock opened at $228.61 on Friday. Broadcom Inc. has a one year low of $128.50 and a one year high of $251.88. The stock has a market cap of $1.07 trillion, a price-to-earnings ratio of 186.47, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. The company has a fifty day moving average price of $187.08 and a two-hundred day moving average price of $199.41. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.

Broadcom declared that its board has approved a share repurchase program on Monday, April 7th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to repurchase up to 1.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.03%. The ex-dividend date was Thursday, March 20th. Broadcom’s payout ratio is 113.46%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AVGO. Citigroup reduced their price objective on Broadcom from $220.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Benchmark restated a “buy” rating and issued a $255.00 target price on shares of Broadcom in a research note on Friday, March 7th. KeyCorp raised their price target on shares of Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $300.00 price objective on shares of Broadcom in a report on Friday, March 7th. Finally, Barclays cut their price objective on shares of Broadcom from $260.00 to $215.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $229.48.

About Broadcom

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.