Mediolanum International Funds Ltd Has $149.02 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Mediolanum International Funds Ltd boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 36.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 634,112 shares of the semiconductor manufacturer’s stock after acquiring an additional 168,774 shares during the quarter. Broadcom accounts for about 1.9% of Mediolanum International Funds Ltd’s investment portfolio, making the stock its 8th largest position. Mediolanum International Funds Ltd’s holdings in Broadcom were worth $149,017,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp boosted its stake in Broadcom by 948.5% in the third quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock worth $31,814,902,000 after buying an additional 166,844,263 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Broadcom by 976.6% in the 3rd quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock valued at $17,055,760,000 after purchasing an additional 89,975,941 shares in the last quarter. FMR LLC grew its holdings in shares of Broadcom by 1,121.3% during the 3rd quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock valued at $15,594,088,000 after purchasing an additional 82,998,328 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Broadcom by 842.4% during the 3rd quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock valued at $6,209,758,000 after purchasing an additional 32,178,542 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Broadcom by 975.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer’s stock worth $5,833,894,000 after purchasing an additional 30,674,902 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. UBS Group boosted their target price on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Robert W. Baird increased their price objective on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Evercore ISI lifted their target price on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Mizuho increased their price target on shares of Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $225.04.

Broadcom Trading Up 2.6 %

Shares of AVGO stock opened at $221.27 on Monday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The stock has a fifty day simple moving average of $213.41 and a two-hundred day simple moving average of $182.02. The firm has a market capitalization of $1.04 trillion, a PE ratio of 180.48, a PEG ratio of 2.16 and a beta of 1.03. Broadcom Inc. has a 52-week low of $117.43 and a 52-week high of $251.88.

Broadcom (NASDAQ:AVGO) last issued its earnings results 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 28.00% and a net margin of 11.43%. The company had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter last year, the company earned $0.98 EPS. The firm’s quarterly revenue was up 51.2% on a year-over-year basis. On average, analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a dividend of $0.59 per share. The ex-dividend date was Monday, December 23rd. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a yield of 1.07%. Broadcom’s dividend payout ratio is presently 192.50%.

Insider Buying and Selling at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 45,000 shares of Broadcom stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the completion of the transaction, the chief executive officer now directly owns 842,836 shares of the company’s stock, valued at $202,246,926.56. The trade was a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the sale, the director now directly owns 46,400 shares in the company, valued at approximately $10,655,296. This represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock worth $44,964,800 in the last quarter. 2.00% of the stock is owned by corporate insiders.

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.