Rakuten Securities Inc. Grows Holdings in Broadcom Inc. (NASDAQ:AVGO)

Rakuten Securities Inc. lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 1,110.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,493 shares of the semiconductor manufacturer’s stock after acquiring an additional 19,718 shares during the quarter. Broadcom accounts for approximately 1.6% of Rakuten Securities Inc.’s investment portfolio, making the stock its 11th biggest holding. Rakuten Securities Inc.’s holdings in Broadcom were worth $3,708,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Delta Asset Management LLC TN increased its position in shares of Broadcom by 242.9% in the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock valued at $32,000 after buying an additional 17 shares in the last quarter. Clear Point Advisors Inc. raised its position in Broadcom by 310.0% during the first quarter. Clear Point Advisors Inc. now owns 41 shares of the semiconductor manufacturer’s stock worth $54,000 after acquiring an additional 31 shares during the period. Indiana Trust & Investment Management CO lifted its holdings in Broadcom by 39.5% during the second quarter. Indiana Trust & Investment Management CO now owns 53 shares of the semiconductor manufacturer’s stock valued at $85,000 after purchasing an additional 15 shares in the last quarter. Creekmur Asset Management LLC grew its position in shares of Broadcom by 89.7% in the first quarter. Creekmur Asset Management LLC now owns 74 shares of the semiconductor manufacturer’s stock valued at $98,000 after purchasing an additional 35 shares during the period. Finally, Kiely Wealth Advisory Group Inc. purchased a new stake in shares of Broadcom during the second quarter worth about $128,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $168.27, for a total value of $4,240,404.00. Following the sale, the insider now owns 753,280 shares of the company’s stock, valued at $126,754,425.60. This trade represents a 3.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction dated 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 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 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 311,080 shares of company stock worth $53,540,590. Corporate insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Broadcom stock opened at $164.84 on Friday. Broadcom Inc. has a 1 year low of $90.31 and a 1 year high of $186.42. 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’s 50 day simple moving average is $172.29 and its 200-day simple moving average is $159.14. The company has a market capitalization of $769.90 billion, a price-to-earnings ratio of 143.34, a price-to-earnings-growth ratio of 2.04 and a beta of 1.17.

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, beating the consensus estimate of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter in the previous year, the business earned $0.95 EPS. The company’s quarterly revenue was up 47.3% compared to the same quarter last year. As a group, equities research analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a $0.53 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.29%. Broadcom’s dividend payout ratio (DPR) is presently 184.35%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on AVGO shares. Cantor Fitzgerald lifted their price objective on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Benchmark reiterated a “buy” rating and set a $210.00 price target on shares of Broadcom in a research report on Friday, September 6th. William Blair began coverage on Broadcom in a report on Wednesday, September 18th. They issued an “outperform” rating on the stock. TD Cowen raised shares of Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Finally, StockNews.com lowered shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.79.

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.