Broadcom Inc. (NASDAQ:AVGO) is DekaBank Deutsche Girozentrale’s 6th Largest Position

DekaBank Deutsche Girozentrale grew its stake in Broadcom Inc. (NASDAQ:AVGO) by 3.3% in the second quarter, Holdings Channel.com reports. The firm owned 778,492 shares of the semiconductor manufacturer’s stock after acquiring an additional 25,181 shares during the quarter. Broadcom makes up approximately 2.2% of DekaBank Deutsche Girozentrale’s investment portfolio, making the stock its 6th biggest position. DekaBank Deutsche Girozentrale’s holdings in Broadcom were worth $1,248,411,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Broadcom by 3.0% in the first quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock valued at $59,181,244,000 after purchasing an additional 1,303,462 shares in the last quarter. Capital International Investors grew its position in Broadcom by 4.5% in the fourth quarter. Capital International Investors now owns 23,330,880 shares of the semiconductor manufacturer’s stock worth $26,044,294,000 after acquiring an additional 1,006,223 shares during the period. Norges Bank purchased a new position in Broadcom in the fourth quarter worth approximately $6,225,987,000. Northern Trust Corp grew its position in Broadcom by 3.7% in the fourth quarter. Northern Trust Corp now owns 4,825,465 shares of the semiconductor manufacturer’s stock worth $5,386,425,000 after acquiring an additional 170,063 shares during the period. Finally, Jennison Associates LLC grew its position in Broadcom by 43.9% in the first quarter. Jennison Associates LLC now owns 4,141,025 shares of the semiconductor manufacturer’s stock worth $5,488,556,000 after acquiring an additional 1,263,957 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on AVGO. Melius began coverage on Broadcom in a research report on Monday, June 3rd. They issued a “buy” rating and a $185.00 price objective for the company. UBS Group lowered their price objective on Broadcom from $173.50 to $170.00 and set a “buy” rating for the company in a research report on Monday. Citigroup reiterated a “buy” rating and issued a $156.00 price objective on shares of Broadcom in a research report on Tuesday, June 11th. Truist Financial increased their price objective on Broadcom from $156.60 to $204.50 and gave the stock a “buy” rating in a research report on Thursday, June 13th. Finally, TD Cowen upped their price target on Broadcom from $175.00 to $210.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Two analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and a consensus target price of $189.23.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Justine Page sold 2,540 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $175.03, for a total value of $444,566.04. Following the sale, the director now directly owns 27,480 shares in the company, valued at $4,809,714.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Broadcom news, Director Justine Page sold 2,540 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $175.03, for a total transaction of $444,566.04. Following the transaction, the director now owns 27,480 shares of the company’s stock, valued at $4,809,714.48. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Hock E. Tan sold 7,502 shares of the firm’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the transaction, the chief executive officer now directly owns 138,191 shares in the company, valued at approximately $235,746,936.45. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Broadcom Stock Up 4.0 %

Shares of NASDAQ AVGO opened at $164.56 on Friday. The stock has a market cap of $766.01 billion, a P/E ratio of 7.08, a PEG ratio of 2.41 and a beta of 1.16. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 12-month low of $79.51 and a 12-month high of $185.16. The business’s fifty day simple moving average is $188.20 and its 200-day simple moving average is $156.39.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.98 billion. During the same period last year, the firm earned $0.95 earnings per share. The company’s revenue for the quarter was up 47.3% compared to the same quarter last year. As a group, equities analysts predict that Broadcom Inc. will post 3.75 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 19th will be paid a $0.53 dividend. The ex-dividend date is Thursday, September 19th. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a yield of 1.29%. Broadcom’s dividend payout ratio (DPR) is currently 9.12%.

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.