Dai ichi Life Insurance Company Ltd Has $50.37 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Dai ichi Life Insurance Company Ltd grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 787.4% in the 3rd quarter, Holdings Channel reports. The firm owned 291,996 shares of the semiconductor manufacturer’s stock after acquiring 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 biggest position. Dai ichi Life Insurance Company Ltd’s holdings in Broadcom were worth $50,369,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in AVGO. Jacobs Levy Equity Management Inc. grew its holdings in Broadcom by 166.2% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 2,316 shares of the semiconductor manufacturer’s stock worth $3,070,000 after buying an additional 1,446 shares in the last quarter. FSA Advisors Inc. bought a new position in Broadcom during the 1st quarter valued at $264,000. Cetera Investment Advisers boosted its stake in Broadcom by 258.7% during the 1st quarter. Cetera Investment Advisers now owns 102,941 shares of the semiconductor manufacturer’s stock valued at $136,438,000 after purchasing an additional 74,244 shares in the last quarter. Cetera Advisors LLC boosted its stake in Broadcom by 95.3% during the 1st quarter. Cetera Advisors LLC now owns 27,454 shares of the semiconductor manufacturer’s stock valued at $36,387,000 after purchasing an additional 13,398 shares in the last quarter. Finally, Cetera Advisor Networks LLC boosted its stake in Broadcom by 33.9% during the 1st quarter. Cetera Advisor Networks LLC now owns 57,900 shares of the semiconductor manufacturer’s stock valued at $76,742,000 after purchasing an additional 14,664 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Broadcom Trading Down 3.1 %

Broadcom stock opened at $159.67 on Thursday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The company has a market capitalization of $745.75 billion, a price-to-earnings ratio of 138.72, a PEG ratio of 1.94 and a beta of 1.17. Broadcom Inc. has a one year low of $90.31 and a one year high of $186.42. The company’s fifty day moving average price is $173.72 and its two-hundred day moving average price is $161.28.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. The firm had revenue of $13.07 billion for 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 business’s quarterly revenue was up 47.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.95 earnings per share. On average, analysts forecast that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders 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. This represents a $2.12 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is currently 184.19%.

Insider Activity

In other news, insider Charlie B. Kawwas sold 25,200 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $168.27, for a total value of $4,240,404.00. Following the sale, the insider now directly owns 753,280 shares of the company’s stock, valued at approximately $126,754,425.60. This trade represents a 3.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gayla J. Delly sold 750 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total value of $130,897.50. Following the completion of the sale, the director now directly owns 34,750 shares in the company, valued at approximately $6,064,917.50. This represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on AVGO. Cantor Fitzgerald increased their price target on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. UBS Group increased their price objective on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Morgan Stanley increased their price objective on Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. The Goldman Sachs Group increased their price objective on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Finally, William Blair assumed coverage on Broadcom in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. Two research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $195.96.

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.