Asset Management One Co. Ltd. raised its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 893.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,995,946 shares of the semiconductor manufacturer's stock after acquiring an additional 1,795,007 shares during the quarter. Broadcom makes up 1.2% of Asset Management One Co. Ltd.'s holdings, making the stock its 11th largest holding. Asset Management One Co. Ltd.'s holdings in Broadcom were worth $344,301,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of AVGO. Lion Street Advisors LLC grew its stake in Broadcom by 1.9% in the second quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer's stock valued at $520,000 after purchasing an additional 6 shares during the last quarter. O Dell Group LLC increased its position in shares of Broadcom by 2.3% during the first quarter. O Dell Group LLC now owns 356 shares of the semiconductor manufacturer's stock worth $472,000 after purchasing an additional 8 shares in the last quarter. Hudson Value Partners LLC lifted its holdings in shares of Broadcom by 2.7% during the 1st quarter. Hudson Value Partners LLC now owns 308 shares of the semiconductor manufacturer's stock valued at $408,000 after purchasing an additional 8 shares during the last quarter. Renasant Bank boosted its position in shares of Broadcom by 1.0% in the 1st quarter. Renasant Bank now owns 785 shares of the semiconductor manufacturer's stock worth $1,040,000 after purchasing an additional 8 shares in the last quarter. Finally, Optimum Investment Advisors increased its position in Broadcom by 0.6% during the 2nd quarter. Optimum Investment Advisors now owns 1,409 shares of the semiconductor manufacturer's stock valued at $2,262,000 after buying an additional 8 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.
Analyst Ratings Changes
A number of brokerages have recently weighed in on AVGO. Rosenblatt Securities dropped their price target on Broadcom from $2,400.00 to $240.00 and set a "buy" rating on the stock in a research note on Friday, September 6th. TD Cowen raised shares of Broadcom to a "strong-buy" rating in a research report on Monday, September 16th. UBS Group raised their price target on shares of Broadcom from $170.00 to $200.00 and gave the stock a "buy" rating in a report on Monday. William Blair initiated coverage on Broadcom in a research note on Wednesday, September 18th. They issued an "outperform" rating for the company. Finally, JPMorgan Chase & Co. upped their target price on Broadcom from $200.00 to $210.00 and gave the company an "overweight" rating in a research report on Friday, September 6th. Two analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Broadcom presently has an average rating of "Moderate Buy" and an average target price of $192.79.
Read Our Latest Stock Report on AVGO
Broadcom Price Performance
Shares of NASDAQ AVGO traded up $4.33 during trading on Thursday, hitting $183.88. The company had a trading volume of 13,179,859 shares, compared to its average volume of 29,831,672. The firm has a market capitalization of $858.83 billion, a price-to-earnings ratio of 159.90, a price-to-earnings-growth ratio of 1.99 and a beta of 1.17. The stock has a fifty day simple moving average of $169.80 and a two-hundred day simple moving average of $156.94. 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 Inc. has a fifty-two week low of $89.90 and a fifty-two week high of $186.42.
Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same period in the previous year, the company posted $0.95 earnings per share. The business's revenue was up 47.3% on a year-over-year basis. On average, research analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current year.
Broadcom Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.15%. This is a positive change from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom's dividend payout ratio (DPR) is 184.35%.
Insider Activity
In other Broadcom news, insider Mark David Brazeal sold 20,280 shares of the firm's stock in a transaction on Monday, October 7th. The stock was sold at an average price of $177.10, for a total value of $3,591,588.00. Following the completion of the sale, the insider now directly owns 399,460 shares of the company's stock, valued at $70,744,366. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the company's stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the transaction, the chief executive officer now owns 1,331,910 shares of the company's stock, valued at $217,594,136.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Mark David Brazeal sold 20,280 shares of Broadcom stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the sale, the insider now owns 399,460 shares of the company's stock, valued at approximately $70,744,366. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock worth $53,540,590 over the last ninety days. Corporate insiders own 2.00% of the company's stock.
Broadcom Profile
(
Free Report)
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.
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