Global X Japan Co. Ltd. Acquires 251,217 Shares of Broadcom Inc. (NASDAQ:AVGO)

Global X Japan Co. Ltd. grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 939.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 277,948 shares of the semiconductor manufacturer’s stock after purchasing an additional 251,217 shares during the quarter. Broadcom comprises about 6.1% of Global X Japan Co. Ltd.’s investment portfolio, making the stock its 4th largest position. Global X Japan Co. Ltd.’s holdings in Broadcom were worth $47,946,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of AVGO. Legend Financial Advisors Inc. lifted its stake in shares of Broadcom by 72.7% during the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 8 shares during the period. Castleview Partners LLC lifted its stake in shares of Broadcom by 1,030.8% during the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 134 shares during the period. Richardson Capital Management LLC acquired a new position in shares of Broadcom during the first quarter valued at $29,000. Delta Asset Management LLC TN lifted its stake in shares of Broadcom by 242.9% during the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 17 shares during the period. Finally, Redmont Wealth Advisors LLC acquired a new position in shares of Broadcom during the first quarter valued at $36,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity at Broadcom

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 document filed with the SEC, which is accessible through this hyperlink. 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 document filed with the SEC, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 10,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $167.14, for a total value of $1,671,400.00. Following the transaction, the chief executive officer now directly owns 1,171,910 shares of the company’s stock, valued at $195,873,037.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 311,080 shares of company stock valued at $53,540,590. Insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AVGO shares. Cantor Fitzgerald upped 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. TD Cowen upgraded Broadcom to a “strong-buy” rating in a report on Monday, September 16th. William Blair began coverage on Broadcom in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. The Goldman Sachs Group upped their price objective on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, September 6th. Finally, Rosenblatt Securities dropped their price objective on Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a report on Friday, September 6th. Two investment 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. According to MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and an average price target of $191.54.

Broadcom Stock Down 1.2 %

NASDAQ:AVGO opened at $171.35 on Friday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The company has a market cap of $797.61 billion, a PE ratio of 7.37, a PEG ratio of 2.99 and a beta of 1.17. Broadcom Inc. has a 52-week low of $81.83 and a 52-week high of $186.42. The stock has a 50-day simple moving average of $167.93 and a 200 day simple moving average of $154.14.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data 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. The business 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 quarterly revenue was up 47.3% on a year-over-year basis. During the same period last year, the company earned $0.95 earnings per share. On average, sell-side analysts expect that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were given a dividend of $0.53 per share. The ex-dividend date was Thursday, September 19th. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.24%. Broadcom’s dividend payout ratio is 9.12%.

About Broadcom

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.