Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. lifted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 966.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,209 shares of the semiconductor manufacturer's stock after purchasing an additional 110,750 shares during the period. Broadcom comprises about 0.9% of Tokio Marine Asset Management Co. Ltd.'s portfolio, making the stock its 24th largest holding. Tokio Marine Asset Management Co. Ltd.'s holdings in Broadcom were worth $21,081,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Swedbank AB boosted its holdings in Broadcom by 858.7% in the 3rd quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer's stock worth $3,168,798,000 after buying an additional 16,453,718 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Broadcom by 917.8% in the 3rd quarter. Van ECK Associates Corp now owns 12,701,500 shares of the semiconductor manufacturer's stock worth $2,203,837,000 after buying an additional 11,453,554 shares during the last quarter. Raymond James & Associates boosted its holdings in Broadcom by 855.4% in the 3rd quarter. Raymond James & Associates now owns 12,674,158 shares of the semiconductor manufacturer's stock worth $2,186,292,000 after buying an additional 11,347,563 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Broadcom by 908.1% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,374,079 shares of the semiconductor manufacturer's stock worth $1,962,029,000 after buying an additional 10,245,786 shares during the last quarter. Finally, National Pension Service boosted its holdings in Broadcom by 1,045.4% in the 3rd quarter. National Pension Service now owns 8,273,157 shares of the semiconductor manufacturer's stock worth $1,427,120,000 after buying an additional 7,550,878 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom Price Performance

Shares of AVGO traded up $0.65 during mid-day trading on Monday, reaching $165.49. 10,647,095 shares of the company's stock were exchanged, compared to its average volume of 29,441,381. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The company has a 50-day simple moving average of $172.84 and a two-hundred day simple moving average of $159.35. Broadcom Inc. has a 52-week low of $90.31 and a 52-week high of $186.42. The company has a market cap of $772.93 billion, a price-to-earnings ratio of 143.13, a PEG ratio of 1.94 and a beta of 1.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $12.98 billion. During the same period last year, the company posted $0.95 EPS. The company's revenue was up 47.3% on a year-over-year basis. On average, sell-side analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were given a dividend of $0.53 per share. The ex-dividend date was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a yield of 1.28%. This is a positive change from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio (DPR) is 184.19%.

Insider Buying and Selling

In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction on Friday, October 11th. The shares were sold at an average price of $181.44, for a total value of $2,893,968.00. Following the transaction, the insider now owns 737,330 shares in the company, valued at $133,781,155.20. This trade represents a 2.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This trade represents a 3.62 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

AVGO has been the topic of several recent research reports. William Blair initiated coverage on Broadcom in a report on Wednesday, September 18th. They set an "outperform" rating on the stock. Morgan Stanley upped their price objective on shares of Broadcom from $176.00 to $180.00 and gave the company an "overweight" rating in a research note on Friday, September 6th. Cantor Fitzgerald increased their target price on shares of Broadcom from $200.00 to $225.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 8th. Rosenblatt Securities decreased their target price 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, Benchmark reiterated a "buy" rating and set a $210.00 target price on shares of Broadcom in a research note on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $192.79.

Broadcom Profile

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.