Daiwa Securities Group Inc. Raises Holdings in Broadcom Inc. (NASDAQ:AVGO)

Daiwa Securities Group Inc. increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 172,493 shares of the semiconductor manufacturer’s stock after acquiring an additional 10,911 shares during the period. Broadcom comprises 1.5% of Daiwa Securities Group Inc.’s holdings, making the stock its 18th largest position. Daiwa Securities Group Inc.’s holdings in Broadcom were worth $276,942,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. TBH Global Asset Management LLC increased its holdings in Broadcom by 29.2% in the fourth quarter. TBH Global Asset Management LLC now owns 641 shares of the semiconductor manufacturer’s stock valued at $715,000 after buying an additional 145 shares in the last quarter. Gilbert & Cook Inc. grew its position in shares of Broadcom by 4.9% during the 4th quarter. Gilbert & Cook Inc. now owns 837 shares of the semiconductor manufacturer’s stock valued at $934,000 after acquiring an additional 39 shares during the period. Aveo Capital Partners LLC increased its stake in shares of Broadcom by 15.9% in the 4th quarter. Aveo Capital Partners LLC now owns 459 shares of the semiconductor manufacturer’s stock valued at $512,000 after purchasing an additional 63 shares in the last quarter. 9258 Wealth Management LLC raised its holdings in Broadcom by 1.5% in the 4th quarter. 9258 Wealth Management LLC now owns 3,884 shares of the semiconductor manufacturer’s stock worth $4,336,000 after purchasing an additional 58 shares during the period. Finally, Gryphon Financial Partners LLC boosted its position in Broadcom by 99.5% during the fourth quarter. Gryphon Financial Partners LLC now owns 1,606 shares of the semiconductor manufacturer’s stock worth $1,731,000 after purchasing an additional 801 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Broadcom

In related news, CEO Hock E. Tan sold 7,502 shares of the business’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the sale, the chief executive officer now directly owns 138,191 shares in the company, valued at approximately $235,746,936.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Hock E. Tan sold 7,502 shares of Broadcom stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the completion of the sale, the chief executive officer now owns 138,191 shares in the company, valued at approximately $235,746,936.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Justine Page sold 2,540 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $175.03, for a total value of $444,566.04. Following the completion of the sale, the director now directly owns 27,480 shares in the company, valued at approximately $4,809,714.48. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Mizuho boosted their price objective on Broadcom from $162.50 to $190.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. Oppenheimer cut their price target on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, July 16th. Melius Research assumed coverage on shares of Broadcom in a report on Monday, June 3rd. They set a “buy” rating and a $185.00 price objective on the stock. JPMorgan Chase & Co. boosted their target price on shares of Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Finally, Bank of America reaffirmed a “buy” rating and issued a $215.00 price target (up from $200.00) on shares of Broadcom in a research note on Monday, June 24th. Two analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $189.23.

Broadcom Price Performance

Broadcom stock opened at $158.27 on Thursday. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The company has a 50-day moving average price of $188.37 and a 200 day moving average price of $156.34. Broadcom Inc. has a 12-month low of $79.51 and a 12-month high of $185.16. The stock has a market cap of $736.73 billion, a P/E ratio of 6.81, a PEG ratio of 2.41 and a beta of 1.16.

Broadcom (NASDAQ:AVGO) last announced its quarterly 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. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter last year, the firm earned $0.95 EPS. The business’s revenue was up 47.3% compared to the same quarter last year. Sell-side analysts anticipate that Broadcom Inc. will post 3.75 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 19th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.34%. The ex-dividend date is Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is 9.12%.

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.