Public Employees Retirement Association of Colorado Has $98.08 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

Public Employees Retirement Association of Colorado cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 61,090 shares of the semiconductor manufacturer’s stock after selling 2,330 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Broadcom were worth $98,082,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Legend Financial Advisors Inc. lifted its position in Broadcom by 72.7% during the 1st quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 8 shares during the period. Richardson Capital Management LLC acquired a new position in Broadcom during the 1st quarter valued at about $29,000. Delta Asset Management LLC TN lifted its position in Broadcom by 242.9% during the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 17 shares during the period. Redmont Wealth Advisors LLC acquired a new position in Broadcom during the 1st quarter valued at about $36,000. Finally, Ulland Investment Advisors LLC acquired a new position in Broadcom during the 1st quarter valued at about $37,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the sale, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the sale, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Hock E. Tan sold 7,502 shares of the stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the completion of the sale, the chief executive officer now directly owns 138,191 shares of the company’s stock, valued at approximately $235,746,936.45. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of recent analyst reports. Melius Research initiated coverage on Broadcom in a research note on Monday, June 3rd. They issued a “buy” rating and a $185.00 price target for the company. Jefferies Financial Group upped their price target on Broadcom from $155.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, June 13th. TD Cowen raised Broadcom to a “strong-buy” rating in a research note on Monday. JPMorgan Chase & Co. upped their price target on Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Finally, Benchmark reaffirmed a “buy” rating and issued a $210.00 price target on shares of Broadcom in a research note on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $189.23.

Broadcom Price Performance

Shares of AVGO opened at $167.42 on Friday. The stock has a market capitalization of $779.32 billion, a P/E ratio of 7.20, a P/E/G ratio of 2.55 and a beta of 1.16. Broadcom Inc. has a twelve month low of $79.51 and a twelve month high of $185.16. The company has a 50 day moving average of $156.80 and a 200-day moving average of $146.69. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.04. The company had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business’s quarterly revenue was up 47.3% on a year-over-year basis. During the same period last year, the business earned $0.95 EPS. As a group, equities research analysts forecast that Broadcom Inc. will post 3.77 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 19th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Thursday, September 19th. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is presently 9.12%.

Broadcom Company 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.