Mizuho Securities Co. Ltd. Has $1.37 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Mizuho Securities Co. Ltd. boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 557.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 7,950 shares of the semiconductor manufacturer’s stock after purchasing an additional 6,740 shares during the period. Broadcom makes up about 3.4% of Mizuho Securities Co. Ltd.’s holdings, making the stock its 8th biggest holding. Mizuho Securities Co. Ltd.’s holdings in Broadcom were worth $1,371,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. 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 valued at $3,168,798,000 after acquiring an additional 16,453,718 shares in the last quarter. Van ECK Associates Corp lifted its position 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 valued at $2,203,837,000 after acquiring an additional 11,453,554 shares in the last quarter. Raymond James & Associates boosted its stake in Broadcom by 855.4% during the 3rd quarter. Raymond James & Associates now owns 12,674,158 shares of the semiconductor manufacturer’s stock valued at $2,186,292,000 after purchasing an additional 11,347,563 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of 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 worth $1,962,029,000 after purchasing an additional 10,245,786 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of Broadcom by 226,130.5% in the third quarter. International Assets Investment Management LLC now owns 8,246,100 shares of the semiconductor manufacturer’s stock worth $14,224,520,000 after purchasing an additional 8,242,455 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Down 3.3 %

Shares of NASDAQ AVGO opened at $164.84 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 12-month low of $90.31 and a 12-month high of $186.42. The firm’s 50-day moving average price is $172.84 and its 200-day moving average price is $159.35. The stock has a market capitalization of $769.90 billion, a price-to-earnings ratio of 143.34, a P/E/G ratio of 2.04 and a beta of 1.17.

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

Broadcom Increases Dividend

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

Insiders Place Their Bets

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the sale, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. This trade represents a 3.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 25,200 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total value of $4,240,404.00. Following the transaction, the insider now 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 disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock valued at $53,540,590 over the last three months. 2.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

AVGO has been the subject of several research analyst reports. StockNews.com downgraded Broadcom from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. TD Cowen upgraded shares of Broadcom to a “strong-buy” rating in a research report on Monday, September 16th. Benchmark reaffirmed a “buy” rating and issued a $210.00 target price on shares of Broadcom in a research report on Friday, September 6th. Cantor Fitzgerald increased their price target on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Finally, The Goldman Sachs Group raised 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. Two research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and an average target price of $192.79.

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.