Broadcom Inc (AVGO) Holdings Reduced by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board cut its stake in Broadcom Inc (NASDAQ:AVGO) by 6.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,446 shares of the semiconductor manufacturer’s stock after selling 2,300 shares during the period. New Mexico Educational Retirement Board’s holdings in Broadcom were worth $10,358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund lifted its stake in Broadcom by 26,295.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 11,950,143 shares of the semiconductor manufacturer’s stock worth $47,000 after purchasing an additional 11,904,869 shares in the last quarter. Norges Bank acquired a new stake in shares of Broadcom in the fourth quarter valued at $1,055,582,000. Morgan Stanley raised its stake in shares of Broadcom by 121.7% in the third quarter. Morgan Stanley now owns 4,296,700 shares of the semiconductor manufacturer’s stock valued at $1,060,125,000 after acquiring an additional 2,358,329 shares in the last quarter. Vanguard Group Inc raised its stake in shares of Broadcom by 6.6% in the third quarter. Vanguard Group Inc now owns 33,632,811 shares of the semiconductor manufacturer’s stock valued at $8,298,223,000 after acquiring an additional 2,094,847 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Broadcom by 6.6% in the third quarter. Vanguard Group Inc. now owns 33,632,811 shares of the semiconductor manufacturer’s stock valued at $8,298,223,000 after acquiring an additional 2,094,847 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

In other Broadcom news, insider Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $315.07, for a total value of $6,301,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Charlie B. Kawwas sold 10,000 shares of Broadcom stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $295.05, for a total transaction of $2,950,500.00. The disclosure for this sale can be found here. Insiders sold a total of 87,824 shares of company stock valued at $26,390,919 over the last ninety days. 3.30% of the stock is owned by corporate insiders.

Several equities analysts recently commented on the company. ValuEngine raised Broadcom from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. BidaskClub lowered Broadcom from a “buy” rating to a “hold” rating in a report on Wednesday, April 24th. KeyCorp increased their target price on Broadcom from $335.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Mizuho increased their target price on Broadcom from $305.00 to $335.00 and gave the company a “buy” rating in a report on Friday, April 12th. Finally, Zacks Investment Research lowered Broadcom from a “hold” rating to a “sell” rating in a report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirty have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $303.41.

Shares of AVGO traded up $0.67 during mid-day trading on Thursday, reaching $304.06. 2,068,337 shares of the company’s stock were exchanged, compared to its average volume of 2,731,581. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.27 and a quick ratio of 1.14. Broadcom Inc has a 52-week low of $197.46 and a 52-week high of $323.20. The stock has a market cap of $118.56 billion, a price-to-earnings ratio of 16.15, a price-to-earnings-growth ratio of 1.47 and a beta of 0.68.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, March 14th. The semiconductor manufacturer reported $5.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.32 by $1.23. The business had revenue of $5.79 billion during the quarter, compared to analysts’ expectations of $5.83 billion. Broadcom had a net margin of 30.50% and a return on equity of 30.31%. The company’s revenue was up 8.6% on a year-over-year basis. During the same period last year, the company posted $5.12 EPS. On average, equities analysts expect that Broadcom Inc will post 17.65 earnings per share for the current fiscal year.

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Broadcom Profile

Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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