Broadcom Inc. $AVGO is China Universal Asset Management Co. Ltd.’s 5th Largest Position

China Universal Asset Management Co. Ltd. reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 18.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 136,754 shares of the semiconductor manufacturer’s stock after selling 30,566 shares during the period. Broadcom accounts for about 3.5% of China Universal Asset Management Co. Ltd.’s investment portfolio, making the stock its 5th largest position. China Universal Asset Management Co. Ltd.’s holdings in Broadcom were worth $37,696,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC boosted its holdings in shares of Broadcom by 21.8% in the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock valued at $6,882,000 after purchasing an additional 5,322 shares during the last quarter. Revolve Wealth Partners LLC raised its position in shares of Broadcom by 10.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock worth $1,854,000 after buying an additional 756 shares during the period. United Bank boosted its holdings in Broadcom by 76.5% in the first quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock valued at $392,000 after acquiring an additional 1,014 shares during the last quarter. Boston Family Office LLC grew its position in Broadcom by 77.9% during the first quarter. Boston Family Office LLC now owns 2,402 shares of the semiconductor manufacturer’s stock valued at $402,000 after acquiring an additional 1,052 shares during the period. Finally, Forvis Mazars Wealth Advisors LLC increased its stake in Broadcom by 24.6% during the first quarter. Forvis Mazars Wealth Advisors LLC now owns 19,597 shares of the semiconductor manufacturer’s stock worth $3,281,000 after acquiring an additional 3,872 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Robert W. Baird set a $420.00 price objective on Broadcom in a research note on Friday. Cowen reissued a “buy” rating on shares of Broadcom in a research note on Friday. The Goldman Sachs Group set a $435.00 price target on Broadcom and gave the company a “buy” rating in a report on Tuesday, November 25th. Raymond James Financial set a $420.00 price objective on Broadcom and gave the company an “outperform” rating in a research report on Thursday, November 20th. Finally, Oppenheimer upped their target price on Broadcom from $435.00 to $450.00 and gave the stock an “outperform” rating in a research report on Friday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $435.85.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Justine Page sold 800 shares of the firm’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $331.14, for a total transaction of $264,912.00. Following the completion of the transaction, the director directly owned 21,382 shares of the company’s stock, valued at $7,080,435.48. This trade represents a 3.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Henry Samueli sold 320,316 shares of the business’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $400.53, for a total transaction of $128,296,167.48. Following the completion of the sale, the director directly owned 37,326,540 shares of the company’s stock, valued at $14,950,399,066.20. The trade was a 0.85% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 836,633 shares of company stock valued at $303,612,352. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

NASDAQ:AVGO opened at $359.93 on Monday. The firm has a 50-day moving average of $363.17 and a two-hundred day moving average of $318.50. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.71 and a quick ratio of 1.58. The stock has a market cap of $1.70 trillion, a P/E ratio of 75.62, a PEG ratio of 1.22 and a beta of 1.19. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $414.61.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 EPS for the quarter, topping the consensus estimate of $1.87 by $0.08. The business had revenue of $18.02 billion for the quarter, compared to analysts’ expectations of $17.46 billion. Broadcom had a return on equity of 37.45% and a net margin of 36.20%.The company’s revenue was up 28.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.42 earnings per share. On average, research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd will be paid a dividend of $0.65 per share. This is an increase from Broadcom’s previous quarterly dividend of $0.59. The ex-dividend date is Monday, December 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom’s dividend payout ratio (DPR) is currently 49.58%.

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.