Bank of Hawaii Increases Stake in Broadcom Inc. (NASDAQ:AVGO)

Bank of Hawaii grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,323.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,824 shares of the semiconductor manufacturer's stock after acquiring an additional 29,588 shares during the period. Bank of Hawaii's holdings in Broadcom were worth $5,490,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in AVGO. Douglass Winthrop Advisors LLC increased its holdings in shares of Broadcom by 958.1% in the third quarter. Douglass Winthrop Advisors LLC now owns 17,300 shares of the semiconductor manufacturer's stock worth $2,984,000 after purchasing an additional 15,665 shares during the period. Fisher Asset Management LLC grew its position in Broadcom by 938.8% during the third quarter. Fisher Asset Management LLC now owns 23,422,781 shares of the semiconductor manufacturer's stock worth $4,040,430,000 after buying an additional 21,168,095 shares in the last quarter. Daiwa Securities Group Inc. increased its position in shares of Broadcom by 1,116.8% in the third quarter. Daiwa Securities Group Inc. now owns 2,098,877 shares of the semiconductor manufacturer's stock worth $362,056,000 after purchasing an additional 1,926,384 shares during the last quarter. Garner Asset Management Corp raised its stake in Broadcom by 30.3% in the third quarter. Garner Asset Management Corp now owns 2,359 shares of the semiconductor manufacturer's stock valued at $407,000 after purchasing an additional 548 shares in the last quarter. Finally, Marco Investment Management LLC raised its stake in Broadcom by 904.1% in the third quarter. Marco Investment Management LLC now owns 450,085 shares of the semiconductor manufacturer's stock valued at $77,640,000 after purchasing an additional 405,261 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Charlie B. Kawwas sold 25,200 shares of Broadcom stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the transaction, the insider now directly owns 753,280 shares of the company's stock, valued at $126,754,425.60. This trade represents a 3.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Mark David Brazeal sold 18,900 shares of the company's stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the completion of the sale, the insider now owns 380,560 shares in the company, valued at approximately $69,596,812.80. This trade represents a 4.73 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of research analyst reports. Morgan Stanley lifted their price objective on shares of Broadcom from $176.00 to $180.00 and gave the stock an "overweight" rating in a report on Friday, September 6th. TD Cowen raised Broadcom to a "strong-buy" rating in a report on Monday, September 16th. Mizuho lifted their price target on shares of Broadcom from $190.00 to $220.00 and gave the stock an "outperform" rating in a research note on Monday, October 14th. Rosenblatt Securities cut their price objective on shares of Broadcom from $2,400.00 to $240.00 and set a "buy" rating for the company in a research note on Friday, September 6th. Finally, UBS Group lifted their target price on shares of Broadcom from $170.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Broadcom currently has a consensus rating of "Moderate Buy" and an average price target of $195.96.

Broadcom Trading Down 0.0 %

Shares of NASDAQ:AVGO traded down $0.08 on Wednesday, hitting $164.74. The company had a trading volume of 16,308,772 shares, compared to its average volume of 19,165,998. The firm's 50-day simple moving average is $173.76 and its two-hundred day simple moving average is $161.09. The firm has a market capitalization of $769.43 billion, a price-to-earnings ratio of 143.13, a P/E/G ratio of 1.94 and a beta of 1.17. 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 1 year low of $90.31 and a 1 year high of $186.42.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same period last year, the business posted $0.95 earnings per share. Broadcom's quarterly revenue was up 47.3% compared to the same quarter last year. Equities analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.29%. This is a boost from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. Broadcom's dividend payout ratio is presently 184.19%.

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.