Broadcom Inc. $AVGO Position Raised by Global X Japan Co. Ltd.

Global X Japan Co. Ltd. lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 196,740 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,687 shares during the quarter. Broadcom accounts for approximately 5.6% of Global X Japan Co. Ltd.’s portfolio, making the stock its 4th largest holding. Global X Japan Co. Ltd.’s holdings in Broadcom were worth $64,906,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Sawyer & Company Inc raised its position in shares of Broadcom by 62.1% in the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 36 shares during the period. Longfellow Investment Management Co. LLC acquired a new stake in shares of Broadcom during the 2nd quarter valued at about $27,000. Legend Financial Advisors Inc. purchased a new position in shares of Broadcom in the 2nd quarter valued at about $28,000. Teachers Insurance & Annuity Association of America acquired a new position in Broadcom in the 2nd quarter worth about $28,000. Finally, LGT Financial Advisors LLC purchased a new position in Broadcom during the second quarter worth approximately $31,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Broadcom news, Director Henry Samueli sold 320,316 shares of the business’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $400.53, for a total transaction of $128,296,167.48. Following the transaction, the director owned 37,326,540 shares of the company’s stock, valued at approximately $14,950,399,066.20. The trade was a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Charlie B. Kawwas sold 1,928 shares of the firm’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $327.80, for a total value of $631,998.40. Following the completion of the sale, the insider directly owned 23,582 shares of the company’s stock, valued at $7,730,179.60. This trade represents a 7.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 524,780 shares of company stock valued at $195,499,150 in the last 90 days. 2.00% of the stock is owned by insiders.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $352.13 on Friday. The stock has a market capitalization of $1.67 trillion, a price-to-earnings ratio of 73.98, a price-to-earnings-growth ratio of 1.20 and a beta of 1.19. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $414.61. The firm has a 50-day simple moving average of $362.74 and a 200-day simple moving average of $323.95. The company has a quick ratio of 1.58, a current ratio of 1.71 and a debt-to-equity ratio of 0.76.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.08. Broadcom had a net margin of 36.20% and a return on equity of 37.45%. The company had revenue of $18.02 billion during the quarter, compared to analysts’ expectations of $17.46 billion. During the same quarter in the prior year, the company earned $1.42 EPS. Broadcom’s revenue was up 28.2% compared to the same quarter last year. On average, equities analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 22nd will be issued a $0.65 dividend. This is a boost from Broadcom’s previous quarterly dividend of $0.59. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, December 22nd. Broadcom’s payout ratio is 54.62%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AVGO. Benchmark boosted their price objective on Broadcom from $385.00 to $485.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Robert W. Baird set a $420.00 price target on shares of Broadcom in a research note on Friday, December 12th. Rosenblatt Securities upped their price objective on shares of Broadcom from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Tuesday, December 9th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $475.00 target price (up previously from $400.00) on shares of Broadcom in a research report on Friday, December 12th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Broadcom from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday, December 12th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $436.33.

Broadcom Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.