Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Rakuten Securities Inc.

Rakuten Securities Inc. increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,110.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,493 shares of the semiconductor manufacturer's stock after acquiring an additional 19,718 shares during the quarter. Broadcom comprises approximately 1.6% of Rakuten Securities Inc.'s portfolio, making the stock its 11th largest holding. Rakuten Securities Inc.'s holdings in Broadcom were worth $3,708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. lifted its stake in Broadcom by 908.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,374,079 shares of the semiconductor manufacturer's stock valued at $1,962,029,000 after buying an additional 10,245,786 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its position in Broadcom by 1,779.2% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 240,299 shares of the semiconductor manufacturer's stock valued at $41,651,000 after purchasing an additional 227,512 shares during the last quarter. Apollon Financial LLC grew its position in Broadcom by 918.0% during the 3rd quarter. Apollon Financial LLC now owns 18,589 shares of the semiconductor manufacturer's stock worth $3,207,000 after purchasing an additional 16,763 shares during the last quarter. WealthPlan Investment Management LLC acquired a new position in Broadcom in the third quarter valued at $2,810,000. Finally, Patron Partners LLC increased its stake in Broadcom by 888.8% in the third quarter. Patron Partners LLC now owns 12,152 shares of the semiconductor manufacturer's stock valued at $2,096,000 after purchasing an additional 10,923 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Mark David Brazeal sold 20,280 shares of the company's stock in a transaction on Monday, October 7th. The stock was sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the completion of the transaction, the insider now directly owns 399,460 shares in the company, valued at $70,744,366. This represents a 4.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Hock E. Tan sold 150,000 shares of the company's stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,181,910 shares of the company's stock, valued at $204,399,515.40. The trade was a 11.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock worth $53,540,590 over the last 90 days. Company insiders own 2.00% of the company's stock.

Broadcom Price Performance

AVGO stock traded down $5.54 during trading on Friday, hitting $164.84. The stock had a trading volume of 20,836,160 shares, compared to its average volume of 29,525,910. The stock has a market cap of $769.90 billion, a price-to-earnings ratio of 143.34, a price-to-earnings-growth ratio of 2.04 and a beta of 1.17. 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 company's 50 day moving average price is $172.84 and its two-hundred day moving average price is $159.35. 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 posted its 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. The firm had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company's revenue was up 47.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.95 EPS. On average, sell-side analysts forecast that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

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

Analysts Set New Price Targets

AVGO has been the topic of a number of research reports. TD Cowen raised Broadcom to a "strong-buy" rating in a report on Monday, September 16th. Benchmark reiterated a "buy" rating and issued a $210.00 target price on shares of Broadcom in a research note on Friday, September 6th. The Goldman Sachs Group upped their price target on Broadcom from $185.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, September 6th. Cantor Fitzgerald lifted their price objective on shares of Broadcom from $200.00 to $225.00 and gave the company an "overweight" rating in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Broadcom from $200.00 to $210.00 and gave the stock an "overweight" rating in a research report on Friday, September 6th. Two 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average 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.