Broadcom Inc. $AVGO is GAM Holding AG’s 9th Largest Position

GAM Holding AG lowered its stake in Broadcom Inc. (NASDAQ:AVGO) by 16.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 79,430 shares of the semiconductor manufacturer’s stock after selling 15,127 shares during the period. Broadcom makes up approximately 1.6% of GAM Holding AG’s portfolio, making the stock its 9th biggest holding. GAM Holding AG’s holdings in Broadcom were worth $26,205,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sawyer & Company Inc lifted its position in Broadcom by 62.1% in the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 36 shares during the last quarter. Longfellow Investment Management Co. LLC purchased a new position in shares of Broadcom in the second quarter worth $27,000. Legend Financial Advisors Inc. bought a new stake in Broadcom during the 2nd quarter valued at $28,000. Teachers Insurance & Annuity Association of America bought a new stake in Broadcom during the 2nd quarter valued at $28,000. Finally, LGT Financial Advisors LLC purchased a new stake in Broadcom during the 2nd quarter valued at $31,000. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling

In other Broadcom news, CEO Hock E. Tan sold 130,000 shares of the company’s stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $326.02, for a total value of $42,382,600.00. Following the sale, the chief executive officer owned 595,638 shares in the company, valued at approximately $194,189,900.76. This represents a 17.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kirsten M. Spears sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $347.82, for a total transaction of $10,434,600.00. Following the transaction, the chief financial officer directly owned 277,237 shares of the company’s stock, valued at $96,428,573.34. This represents a 9.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 680,701 shares of company stock worth $249,624,757 over the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Down 0.1%

AVGO stock opened at $343.50 on Thursday. Broadcom Inc. has a fifty-two week low of $138.10 and a fifty-two week high of $414.61. The company has a market capitalization of $1.63 trillion, a price-to-earnings ratio of 72.16, a price-to-earnings-growth ratio of 1.16 and a beta of 1.21. The business’s 50 day moving average price is $361.10 and its two-hundred day moving average price is $329.81. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.58 and a current ratio of 1.71.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $0.08. The company had revenue of $18.02 billion during 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 firm’s revenue for the quarter was up 28.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.42 EPS. As a group, analysts forecast 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 was paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd were given a $0.65 dividend. The ex-dividend date of this dividend was Monday, December 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. This is a boost from Broadcom’s previous quarterly dividend of $0.59. Broadcom’s payout ratio is currently 54.62%.

Analyst Ratings Changes

AVGO has been the subject of several recent analyst reports. Bank of America upped their price objective on shares of Broadcom from $460.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Cowen reaffirmed a “buy” rating on shares of Broadcom in a research report on Friday, December 12th. Rosenblatt Securities increased their price objective on Broadcom from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. Robert W. Baird set a $420.00 price objective on Broadcom in a research report on Friday, December 12th. Finally, Sanford C. Bernstein reissued an “outperform” rating and set a $475.00 target price (up from $400.00) on shares of Broadcom in a research note on Friday, December 12th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Broadcom presently has a consensus rating of “Buy” and a consensus target price of $436.89.

Broadcom Profile

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.