Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its stake in Broadcom Inc (NASDAQ:AVGO) by 2.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 117,056 shares of the semiconductor manufacturer’s stock after selling 3,000 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Broadcom were worth $27,754,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in AVGO. Great Lakes Advisors LLC increased its stake in shares of Broadcom by 149.1% in the fourth quarter. Great Lakes Advisors LLC now owns 6,043 shares of the semiconductor manufacturer’s stock valued at $1,910,000 after buying an additional 3,617 shares during the period. Meeder Asset Management Inc. boosted its holdings in Broadcom by 3.8% in the fourth quarter. Meeder Asset Management Inc. now owns 33,010 shares of the semiconductor manufacturer’s stock valued at $10,432,000 after acquiring an additional 1,202 shares during the last quarter. Ameritas Investment Company LLC increased its position in Broadcom by 15.6% during the 4th quarter. Ameritas Investment Company LLC now owns 2,283 shares of the semiconductor manufacturer’s stock valued at $722,000 after purchasing an additional 308 shares during the period. Bay Rivers Group acquired a new stake in Broadcom during the 4th quarter valued at approximately $1,414,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC raised its holdings in Broadcom by 3.0% during the 4th quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,425 shares of the semiconductor manufacturer’s stock worth $449,000 after purchasing an additional 42 shares during the last quarter. 82.01% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ:AVGO traded up $1.85 during mid-day trading on Friday, hitting $276.65. 1,723,932 shares of the company traded hands, compared to its average volume of 2,105,755. The stock has a 50-day moving average price of $260.81 and a two-hundred day moving average price of $287.44. Broadcom Inc has a 12-month low of $155.67 and a 12-month high of $331.58. The stock has a market cap of $109.86 billion, a P/E ratio of 45.65, a P/E/G ratio of 1.36 and a beta of 0.93. The company has a current ratio of 1.56, a quick ratio of 1.44 and a debt-to-equity ratio of 1.74.
Several research firms have recently weighed in on AVGO. Zacks Investment Research cut shares of Broadcom from a “hold” rating to a “sell” rating and set a $211.00 price objective for the company. in a research report on Wednesday, March 18th. Rosenblatt Securities decreased their price target on Broadcom from $370.00 to $350.00 and set a “buy” rating for the company in a report on Friday, March 13th. Charter Equity raised Broadcom from a “market perform” rating to an “outperform” rating in a research report on Sunday, April 19th. SunTrust Banks cut their target price on Broadcom from $366.00 to $300.00 and set a “buy” rating on the stock in a research report on Friday, March 13th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. decreased their target price on Broadcom from $380.00 to $340.00 and set an “overweight” rating for the company in a research note on Friday, March 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $314.00.
In other Broadcom news, CEO Hock E. Tan sold 73,646 shares of Broadcom stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $198.18, for a total transaction of $14,595,164.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Charlie B. Kawwas sold 1,348 shares of the business’s stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $264.39, for a total value of $356,397.72. The disclosure for this sale can be found here. Insiders have sold 144,494 shares of company stock worth $34,947,312 over the last three months. 3.30% of the stock is owned by insiders.
Broadcom Company Profile
Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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