Nordea Investment Management AB Has $1.24 Billion Position in Broadcom Inc. (NASDAQ:AVGO)

Nordea Investment Management AB raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 15.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,264,796 shares of the semiconductor manufacturer’s stock after acquiring an additional 687,050 shares during the period. Broadcom comprises approximately 1.3% of Nordea Investment Management AB’s portfolio, making the stock its 10th biggest holding. Nordea Investment Management AB owned about 0.11% of Broadcom worth $1,239,333,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in AVGO. NCP Inc. increased its holdings in shares of Broadcom by 615.4% in the second quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock worth $747,000 after buying an additional 400 shares during the period. Strategic Financial Concepts LLC increased its stake in Broadcom by 80,715.3% in the 2nd quarter. Strategic Financial Concepts LLC now owns 206,079 shares of the semiconductor manufacturer’s stock worth $3,309,000 after purchasing an additional 205,824 shares during the period. MainStreet Investment Advisors LLC bought a new stake in Broadcom in the second quarter valued at approximately $7,042,000. Otter Creek Advisors LLC boosted its stake in shares of Broadcom by 16.2% during the second quarter. Otter Creek Advisors LLC now owns 4,080 shares of the semiconductor manufacturer’s stock valued at $6,551,000 after purchasing an additional 570 shares during the period. Finally, Acadian Asset Management LLC grew its holdings in shares of Broadcom by 168.8% in the second quarter. Acadian Asset Management LLC now owns 33,044 shares of the semiconductor manufacturer’s stock worth $53,046,000 after purchasing an additional 20,753 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadcom

In related news, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the sale, the director now owns 30,450 shares of the company’s stock, valued at $7,308,000. The trade was a 17.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mark David Brazeal sold 18,900 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total value of $3,456,432.00. Following the sale, the insider now owns 380,560 shares of the company’s stock, valued at approximately $69,596,812.80. This trade represents a 4.73 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 134,128 shares of company stock worth $29,820,640. Company insiders own 2.00% of the company’s stock.

Broadcom Trading Up 0.2 %

Shares of NASDAQ AVGO opened at $232.55 on Monday. The firm’s 50 day moving average price is $191.27 and its 200-day moving average price is $173.87. Broadcom Inc. has a 52-week low of $104.15 and a 52-week high of $251.88. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The company has a market cap of $1.09 trillion, a PE ratio of 202.04, a P/E/G ratio of 2.15 and a beta of 1.13.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same period in the prior year, the firm posted $0.98 EPS. The firm’s quarterly revenue was up 51.2% on a year-over-year basis. On average, equities research analysts expect that Broadcom Inc. will post 3.79 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 annualized dividend and a yield of 1.01%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is currently 191.87%.

Analyst Ratings Changes

Several equities research analysts have weighed in on AVGO shares. Deutsche Bank Aktiengesellschaft increased their price target on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Bank of America raised their target price on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Rosenblatt Securities reaffirmed a “buy” rating and set a $240.00 price target on shares of Broadcom in a research report on Wednesday, December 11th. Cantor Fitzgerald increased their price objective on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Finally, Morgan Stanley upped their target price on Broadcom from $233.00 to $265.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $221.88.

About Broadcom

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.