Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 787.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 291,996 shares of the semiconductor manufacturer's stock after buying an additional 259,092 shares during the quarter. Broadcom comprises approximately 1.3% of Dai ichi Life Insurance Company Ltd's holdings, making the stock its 8th largest position. Dai ichi Life Insurance Company Ltd's holdings in Broadcom were worth $50,369,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Jennison Associates LLC grew its stake in Broadcom by 842.4% during the 3rd quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer's stock worth $6,209,758,000 after buying an additional 32,178,542 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Broadcom by 962.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,997,455 shares of the semiconductor manufacturer's stock worth $5,519,591,000 after purchasing an additional 28,985,434 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of Broadcom by 938.8% in 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 purchasing an additional 21,168,095 shares in the last quarter. Swedbank AB grew its stake in shares of Broadcom by 858.7% in the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer's stock worth $3,168,798,000 after purchasing an additional 16,453,718 shares in the last quarter. Finally, Bank of Montreal Can grew its stake in shares of Broadcom by 814.4% in the third quarter. Bank of Montreal Can now owns 16,096,312 shares of the semiconductor manufacturer's stock worth $2,779,672,000 after purchasing an additional 14,335,935 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Down 3.1 %

Shares of NASDAQ AVGO traded down $5.07 during mid-day trading on Thursday, reaching $159.67. 19,722,723 shares of the company traded hands, compared to its average volume of 29,185,664. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The stock has a market cap of $745.75 billion, a PE ratio of 138.84, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17. The company's fifty day moving average is $173.57 and its two-hundred day moving average is $161.49. Broadcom Inc. has a fifty-two week low of $90.31 and a fifty-two week high of $186.42.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter in the prior year, the company earned $0.95 EPS. The firm's revenue for the quarter was up 47.3% compared to the same quarter last year. On average, 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. Investors of record on Thursday, September 19th were paid a dividend of $0.53 per share. This is an increase from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a yield of 1.33%. Broadcom's dividend payout ratio is presently 184.35%.

Analysts Set New Price Targets

Several analysts have recently weighed in on AVGO shares. Cantor Fitzgerald upped their price objective on Broadcom from $200.00 to $225.00 and gave the company an "overweight" rating in a report on Tuesday, October 8th. TD Cowen raised Broadcom to a "strong-buy" rating in a report on Monday, September 16th. JPMorgan Chase & Co. upped their target price on Broadcom from $200.00 to $210.00 and gave the company an "overweight" rating in a report on Friday, September 6th. UBS Group upped their target price on Broadcom from $170.00 to $200.00 and gave the company a "buy" rating in a report on Monday, November 4th. Finally, Morgan Stanley upped their price target on Broadcom from $176.00 to $180.00 and gave the company an "overweight" rating in a research report on Friday, September 6th. Two research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $195.96.

Insider Activity at Broadcom

In related news, CEO Hock E. Tan sold 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 17th. The stock was 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 $217,594,136.70. This trade represents a 3.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gayla J. Delly sold 750 shares of the firm's stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total value of $130,897.50. Following the transaction, the director now owns 34,750 shares of the company's stock, valued at $6,064,917.50. This trade represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock worth $53,540,590 in the last 90 days. 2.00% of the stock is owned by company insiders.

Broadcom Company 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.