Sava Infond d.o.o. Purchases New Holdings in Broadcom Inc. (NASDAQ:AVGO)

Sava Infond d.o.o. acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 123,060 shares of the semiconductor manufacturer’s stock, valued at approximately $28,530,000. Broadcom makes up approximately 5.1% of Sava Infond d.o.o.’s investment portfolio, making the stock its 3rd largest holding.

Several other large investors also recently added to or reduced their stakes in AVGO. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Broadcom by 7.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 7,793,754 shares of the semiconductor manufacturer’s stock valued at $1,812,437,000 after purchasing an additional 544,441 shares during the period. Worth Financial Advisory Group LLC grew its position in Broadcom by 4.3% during the fourth quarter. Worth Financial Advisory Group LLC now owns 1,445 shares of the semiconductor manufacturer’s stock valued at $335,000 after purchasing an additional 60 shares in the last quarter. Foundation Wealth Management LLC PA acquired a new position in Broadcom in the 4th quarter valued at approximately $211,000. Tyler Stone Wealth Management lifted its position in Broadcom by 45.5% in the 4th quarter. Tyler Stone Wealth Management now owns 3,144 shares of the semiconductor manufacturer’s stock worth $729,000 after buying an additional 983 shares in the last quarter. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in shares of Broadcom during the 4th quarter valued at $24,559,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Barclays upped their price target on shares of Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Bank of America lifted their price target on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a report on Friday, December 13th. Jefferies Financial Group lifted their target price on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. increased their price target on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Finally, Benchmark reaffirmed a “buy” rating and issued a $255.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus target price of $231.48.

Insider Activity at Broadcom

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $194.65, for a total value of $5,839,500.00. Following the completion of the transaction, the insider now directly owns 490,956 shares of the company’s stock, valued at approximately $95,564,585.40. The trade was a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 122,000 shares of company stock worth $27,334,060. 2.00% of the stock is owned by corporate insiders.

Broadcom Stock Down 4.8 %

AVGO stock opened at $179.27 on Thursday. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The company has a market cap of $842.92 billion, a PE ratio of 146.22, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The business’s 50-day simple moving average is $211.99 and its 200 day simple moving average is $195.88.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s dividend payout ratio is presently 113.46%.

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.