Mizuho Securities USA LLC Grows Position in Broadcom Inc. (NASDAQ:AVGO)

Mizuho Securities USA LLC grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 798.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 301,844 shares of the semiconductor manufacturer's stock after buying an additional 268,260 shares during the period. Broadcom accounts for approximately 1.1% of Mizuho Securities USA LLC's holdings, making the stock its 11th biggest holding. Mizuho Securities USA LLC's holdings in Broadcom were worth $52,068,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Jennison Associates LLC grew its position in Broadcom by 842.4% in the third quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer's stock valued at $6,209,758,000 after acquiring an additional 32,178,542 shares in the last quarter. Swedbank AB increased its position in shares of Broadcom by 858.7% during the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer's stock worth $3,168,798,000 after acquiring an additional 16,453,718 shares during the last quarter. Swiss National Bank boosted its holdings in Broadcom by 907.0% in the third quarter. Swiss National Bank now owns 13,125,930 shares of the semiconductor manufacturer's stock valued at $2,264,223,000 after purchasing an additional 11,822,467 shares during the last quarter. Van ECK Associates Corp increased its holdings in Broadcom by 917.8% during 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 purchasing an additional 11,453,554 shares during the last quarter. Finally, Raymond James & Associates grew its position in shares of Broadcom by 855.4% during the third 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 in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on AVGO. Benchmark reissued a "buy" rating and issued a $210.00 target price on shares of Broadcom in a research report on Friday, September 6th. Morgan Stanley increased their target price on Broadcom from $176.00 to $180.00 and gave the stock an "overweight" rating in a report on Friday, September 6th. William Blair began coverage on Broadcom in a research report on Wednesday, September 18th. They set an "outperform" rating on the stock. UBS Group lifted their price objective on shares of Broadcom from $170.00 to $200.00 and gave the stock a "buy" rating in a report on Monday, November 4th. Finally, TD Cowen upgraded shares of Broadcom to a "strong-buy" rating in a research note on Monday, September 16th. Two investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $192.79.

Insiders Place Their Bets

In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the business's stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $181.44, for a total value of $2,893,968.00. Following the transaction, the insider now directly owns 737,330 shares of the company's stock, valued at approximately $133,781,155.20. The trade was a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 20,000 shares of the firm's stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $172.32, for a total value of $3,446,400.00. Following the completion of the sale, the chief executive officer now directly owns 1,151,910 shares of the company's stock, valued at $198,497,131.20. This trade represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock worth $53,540,590 over the last three months. Insiders own 2.00% of the company's stock.

Broadcom Stock Performance

Broadcom stock traded up $0.29 on Friday, hitting $164.23. The company's stock had a trading volume of 17,332,473 shares, compared to its average volume of 18,615,522. The firm has a market cap of $767.05 billion, a P/E ratio of 142.81, a price-to-earnings-growth ratio of 1.93 and a beta of 1.17. The company has a fifty day moving average price of $173.70 and a 200-day moving average price of $160.62. Broadcom Inc. has a one year low of $90.31 and a one year high of $186.42. 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 (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping analysts' consensus estimates of $1.20 by $0.04. The firm had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company's revenue was up 47.3% on a year-over-year basis. During the same period last year, the company earned $0.95 earnings per share. On average, equities analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were issued a $0.53 dividend. This is a positive change from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom's dividend payout ratio (DPR) is currently 184.35%.

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.