SBI Securities Co. Ltd. Acquires New Position in Broadcom Inc. (NASDAQ:AVGO)

SBI Securities Co. Ltd. acquired a new stake in Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 54,460 shares of the semiconductor manufacturer’s stock, valued at approximately $12,626,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp boosted its stake in shares of Broadcom by 30.2% in the fourth quarter. Jones Financial Companies Lllp now owns 961,987 shares of the semiconductor manufacturer’s stock valued at $223,027,000 after buying an additional 222,918 shares in the last quarter. SRS Capital Advisors Inc. lifted its holdings in Broadcom by 39.2% in the fourth quarter. SRS Capital Advisors Inc. now owns 11,568 shares of the semiconductor manufacturer’s stock valued at $2,682,000 after acquiring an additional 3,256 shares during the period. Asahi Life Asset Management CO. LTD. boosted its position in shares of Broadcom by 17.0% during the 4th quarter. Asahi Life Asset Management CO. LTD. now owns 8,600 shares of the semiconductor manufacturer’s stock worth $1,994,000 after purchasing an additional 1,250 shares in the last quarter. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Broadcom during the 4th quarter worth $71,000. Finally, Bailard Inc. increased its holdings in shares of Broadcom by 6.7% in the 4th quarter. Bailard Inc. now owns 60,331 shares of the semiconductor manufacturer’s stock valued at $13,987,000 after purchasing an additional 3,764 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Up 0.8 %

AVGO opened at $199.29 on Monday. The stock has a market capitalization of $934.16 billion, a price-to-earnings ratio of 162.56, a price-to-earnings-growth ratio of 2.29 and a beta of 1.02. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The business has a 50-day moving average of $227.44 and a two-hundred day moving average of $192.35.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.39 by $0.03. The firm had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. Broadcom’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.98 earnings per share. On average, research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a $0.59 dividend. The ex-dividend date was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 1.18%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is presently 191.87%.

Analysts Set New Price Targets

A number of analysts recently commented on AVGO shares. Rosenblatt Securities reissued a “buy” rating and set a $240.00 price objective on shares of Broadcom in a report on Wednesday, December 11th. Piper Sandler boosted their price target on Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Robert W. Baird raised their price objective on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Hsbc Global Res raised Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Finally, Evercore ISI raised their price target on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $225.04.

Insider Activity at Broadcom

In other news, Director Diane M. Bryant sold 15,000 shares of Broadcom stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $226.68, for a total value of $3,400,200.00. Following the transaction, the director now directly owns 6,460 shares of the company’s stock, valued at $1,464,352.80. The trade was a 69.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Mark David Brazeal sold 20,168 shares of the stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the sale, the insider now directly owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. This trade represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by insiders.

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.