Intact Investment Management Inc. Has $24.23 Million Stock Holdings in Broadcom Inc. $AVGO

Intact Investment Management Inc. decreased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 15.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 87,900 shares of the semiconductor manufacturer’s stock after selling 15,500 shares during the period. Intact Investment Management Inc.’s holdings in Broadcom were worth $24,230,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of AVGO. Brighton Jones LLC grew its holdings in shares of Broadcom by 21.8% in the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock worth $6,882,000 after purchasing an additional 5,322 shares during the last quarter. Revolve Wealth Partners LLC grew its position in Broadcom by 10.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock worth $1,854,000 after acquiring an additional 756 shares during the last quarter. United Bank raised its position in Broadcom by 76.5% in the 1st quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock valued at $392,000 after purchasing an additional 1,014 shares during the last quarter. Aigen Investment Management LP acquired a new position in Broadcom in the first quarter worth $726,000. Finally, Maia Wealth LLC increased its stake in shares of Broadcom by 5.9% in the first quarter. Maia Wealth LLC now owns 3,389 shares of the semiconductor manufacturer’s stock valued at $605,000 after buying an additional 190 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft set a $400.00 price objective on shares of Broadcom and gave the company a “buy” rating in a research report on Tuesday, October 14th. Citigroup reaffirmed a “buy” rating and set a $415.00 price objective (up previously from $350.00) on shares of Broadcom in a report on Tuesday, October 14th. Bank of America increased their price objective on Broadcom from $400.00 to $460.00 and gave the company a “buy” rating in a research report on Monday, December 1st. Benchmark boosted their target price on Broadcom from $315.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, September 5th. Finally, The Goldman Sachs Group set a $435.00 price target on Broadcom and gave the company a “buy” rating in a research note on Tuesday, November 25th. Three research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Broadcom presently has a consensus rating of “Buy” and a consensus price target of $392.46.

Insiders Place Their Bets

In related news, insider Charlie B. Kawwas sold 3,893 shares of the firm’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total transaction of $1,354,063.26. Following the sale, the insider owned 25,295 shares of the company’s stock, valued at approximately $8,798,106.90. This trade represents a 13.34% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Justine Page sold 800 shares of the business’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $331.14, for a total value of $264,912.00. Following the completion of the transaction, the director directly owned 21,382 shares of the company’s stock, valued at approximately $7,080,435.48. The trade was a 3.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 837,433 shares of company stock worth $303,900,352 over the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Price Performance

Broadcom stock opened at $406.29 on Wednesday. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $407.29. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $1.92 trillion, a P/E ratio of 103.65, a PEG ratio of 1.36 and a beta of 1.19. The business has a 50-day moving average of $359.78 and a 200-day moving average of $315.15.

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.