Broadcom Inc. $AVGO is Generate Investment Management Ltd’s 8th Largest Position

Generate Investment Management Ltd boosted its stake in Broadcom Inc. (NASDAQ:AVGO) by 78.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 219,257 shares of the semiconductor manufacturer’s stock after acquiring an additional 96,075 shares during the period. Broadcom accounts for about 3.5% of Generate Investment Management Ltd’s holdings, making the stock its 8th biggest position. Generate Investment Management Ltd’s holdings in Broadcom were worth $75,885,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership lifted its position in shares of Broadcom by 499.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer’s stock valued at $1,858,789,000 after buying an additional 4,694,313 shares during the last quarter. Nordea Investment Management AB increased its holdings in Broadcom by 47.5% in the 4th quarter. Nordea Investment Management AB now owns 9,814,757 shares of the semiconductor manufacturer’s stock worth $3,406,211,000 after acquiring an additional 3,160,586 shares during the last quarter. Danske Bank A S bought a new stake in Broadcom in the 3rd quarter valued at about $987,488,000. Invesco Ltd. lifted its holdings in Broadcom by 8.4% during the second quarter. Invesco Ltd. now owns 38,449,630 shares of the semiconductor manufacturer’s stock valued at $10,598,641,000 after purchasing an additional 2,978,768 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Broadcom by 41.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 8,520,644 shares of the semiconductor manufacturer’s stock worth $2,811,046,000 after purchasing an additional 2,503,304 shares during the period. 76.43% of the stock is owned by institutional investors.

Broadcom Trading Down 2.4%

Shares of Broadcom stock opened at $293.41 on Tuesday. The company’s 50-day moving average price is $325.83 and its 200-day moving average price is $344.28. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.80. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $414.61. The company has a market cap of $1.39 trillion, a price-to-earnings ratio of 57.31, a PEG ratio of 0.64 and a beta of 1.22.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, beating the consensus estimate of $2.03 by $0.02. The company had revenue of $19.31 billion during the quarter, compared to analysts’ expectations of $19.10 billion. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. Broadcom’s revenue for the quarter was up 29.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.60 earnings per share. On average, equities analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Monday, March 23rd. Broadcom’s payout ratio is 50.78%.

Insider Activity

In other Broadcom news, insider S. Ram Velaga sold 38,841 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $12,491,265.60. Following the sale, the insider owned 96,147 shares of the company’s stock, valued at $30,920,875.20. This trade represents a 28.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kirsten M. Spears sold 36,292 shares of Broadcom stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $11,671,507.20. Following the sale, the chief financial officer owned 327,760 shares of the company’s stock, valued at approximately $105,407,616. This trade represents a 9.97% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 403,049 shares of company stock worth $133,459,315. Company insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on AVGO shares. DA Davidson upgraded shares of Broadcom to a “hold” rating in a research note on Friday, February 13th. Weiss Ratings restated a “buy (b)” rating on shares of Broadcom in a research note on Monday, December 29th. UBS Group set a $475.00 price objective on shares of Broadcom and gave the stock a “buy” rating in a report on Monday, December 15th. Zacks Research lowered shares of Broadcom from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 4th. Finally, Wells Fargo & Company raised shares of Broadcom from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $410.00 to $430.00 in a report on Thursday, January 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $435.30.

About Broadcom

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.