Pictet & Cie Europe SA Sells 415 Shares of Broadcom Inc (AVGO)

Pictet & Cie Europe SA lowered its stake in shares of Broadcom Inc (NASDAQ:AVGO) by 22.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,418 shares of the semiconductor manufacturer’s stock after selling 415 shares during the quarter. Pictet & Cie Europe SA’s holdings in Broadcom were worth $426,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of AVGO. Oregon Public Employees Retirement Fund grew its position 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 valued at $47,000 after buying an additional 11,904,869 shares during the period. Norges Bank bought a new position in Broadcom during the fourth quarter worth about $1,055,582,000. Vanguard Group Inc boosted its position in Broadcom by 6.6% during the third quarter. Vanguard Group Inc now owns 33,632,811 shares of the semiconductor manufacturer’s stock worth $8,298,223,000 after purchasing an additional 2,094,847 shares during the period. Thornburg Investment Management Inc. boosted its position in Broadcom by 85.2% during the fourth quarter. Thornburg Investment Management Inc. now owns 825,050 shares of the semiconductor manufacturer’s stock worth $209,794,000 after purchasing an additional 379,637 shares during the period. Finally, FMR LLC boosted its position in Broadcom by 3.8% during the fourth quarter. FMR LLC now owns 10,192,760 shares of the semiconductor manufacturer’s stock worth $2,591,815,000 after purchasing an additional 374,911 shares during the period. Institutional investors own 84.41% of the company’s stock.

A number of equities analysts have weighed in on the stock. ValuEngine upgraded shares of Broadcom from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. BidaskClub lowered shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. KeyCorp increased their target price on shares of Broadcom from $335.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Mizuho increased their target price on shares of Broadcom from $305.00 to $335.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Finally, Zacks Investment Research lowered shares of Broadcom from a “hold” rating to a “sell” rating in a research report on Tuesday, March 19th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $305.03.

In related news, SVP Charlie B. Kawwas sold 9,330 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $295.93, for a total value of $2,761,026.90. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $291.27, for a total transaction of $5,825,400.00. The disclosure for this sale can be found here. Insiders sold 87,824 shares of company stock worth $26,390,919 over the last ninety days. 3.30% of the stock is currently owned by insiders.

Shares of Broadcom stock traded down $0.36 on Wednesday, reaching $254.12. The stock had a trading volume of 2,521,357 shares, compared to its average volume of 2,845,687. The company has a market cap of $100.59 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 1.19 and a beta of 0.68. The company has a current ratio of 1.27, a quick ratio of 1.14 and a debt-to-equity ratio of 1.47. Broadcom Inc has a 1 year low of $197.46 and a 1 year high of $323.20.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, March 14th. The semiconductor manufacturer reported $5.55 earnings per share for the quarter, beating analysts’ consensus estimates of $4.32 by $1.23. The business had revenue of $5.79 billion for the quarter, compared to the consensus estimate of $5.83 billion. Broadcom had a net margin of 30.50% and a return on equity of 30.31%. Broadcom’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the firm posted $5.12 earnings per share. On average, sell-side analysts predict that Broadcom Inc will post 17.65 earnings per share for the current year.

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Broadcom Company 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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