Mitsubishi UFJ Asset Management UK Ltd. Buys 12,600 Shares of Broadcom Inc. (NASDAQ:AVGO)

Mitsubishi UFJ Asset Management UK Ltd. increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 900.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,000 shares of the semiconductor manufacturer’s stock after acquiring an additional 12,600 shares during the period. Broadcom comprises approximately 1.2% of Mitsubishi UFJ Asset Management UK Ltd.’s investment portfolio, making the stock its 20th largest holding. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in Broadcom were worth $2,415,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Legacy Financial Strategies LLC acquired a new stake in shares of Broadcom during the 3rd quarter worth about $236,000. ST Germain D J Co. Inc. grew its position in shares of Broadcom by 900.0% in the third quarter. ST Germain D J Co. Inc. now owns 1,100 shares of the semiconductor manufacturer’s stock valued at $190,000 after purchasing an additional 990 shares during the last quarter. Raymond James & Associates grew its position in shares of Broadcom by 855.4% in the third 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. Slow Capital Inc. increased its stake in shares of Broadcom by 898.2% during the third quarter. Slow Capital Inc. now owns 205,301 shares of the semiconductor manufacturer’s stock worth $35,414,000 after purchasing an additional 184,733 shares during the period. Finally, Bartlett & CO. Wealth Management LLC lifted its holdings in Broadcom by 827.1% during the 3rd quarter. Bartlett & CO. Wealth Management LLC now owns 47,357 shares of the semiconductor manufacturer’s stock worth $8,169,000 after purchasing an additional 42,249 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on AVGO shares. Mizuho lifted their target price on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Morgan Stanley boosted their price target on Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. William Blair began coverage on Broadcom in a research note on Wednesday, September 18th. They set an “outperform” rating for the company. Cantor Fitzgerald lifted their price target on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Finally, Oppenheimer decreased their target price on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 16th. Two research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and a consensus price target of $191.54.

Broadcom Stock Performance

Shares of Broadcom stock opened at $179.89 on Monday. Broadcom Inc. has a 12 month low of $81.83 and a 12 month high of $186.42. 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 business has a fifty day simple moving average of $166.52 and a two-hundred day simple moving average of $153.25. The firm has a market capitalization of $837.37 billion, a P/E ratio of 7.74, a P/E/G ratio of 2.99 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data 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 company had revenue of $13.07 billion during 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%. Broadcom’s revenue for the quarter was up 47.3% on a year-over-year basis. During the same period last year, the company earned $0.95 EPS. On average, equities analysts forecast that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were paid a dividend of $0.53 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.18%. Broadcom’s payout ratio is 9.12%.

Insider Buying and Selling

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,331,910 shares in the company, valued at $217,594,136.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Hock E. Tan sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total value of $25,941,000.00. Following the sale, the chief executive officer now directly owns 1,181,910 shares in the company, valued at $204,399,515.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 311,080 shares of company stock valued at $53,540,590. Company insiders own 2.00% of the company’s stock.

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.