Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. raised its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,056,471 shares of the semiconductor manufacturer's stock after acquiring an additional 93,863 shares during the period. Broadcom makes up 1.2% of Asset Management One Co. Ltd.'s portfolio, making the stock its 11th largest holding. Asset Management One Co. Ltd.'s holdings in Broadcom were worth $344,315,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of AVGO. Banco Bilbao Vizcaya Argentaria S.A. raised its stake in Broadcom by 3.8% during the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer's stock valued at $120,070,000 after purchasing an additional 18,845 shares in the last quarter. Nebula Research & Development LLC increased its holdings in shares of Broadcom by 1,100.8% in the 4th quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer's stock worth $3,642,000 after buying an additional 14,399 shares during the last quarter. Kovack Advisors Inc. raised its position in shares of Broadcom by 8.1% during the 4th quarter. Kovack Advisors Inc. now owns 34,380 shares of the semiconductor manufacturer's stock valued at $7,971,000 after buying an additional 2,570 shares in the last quarter. SOA Wealth Advisors LLC. lifted its holdings in shares of Broadcom by 50.6% in the 4th quarter. SOA Wealth Advisors LLC. now owns 1,056 shares of the semiconductor manufacturer's stock valued at $245,000 after acquiring an additional 355 shares during the last quarter. Finally, Coppell Advisory Solutions LLC grew its position in Broadcom by 1,512.3% in the fourth quarter. Coppell Advisory Solutions LLC now owns 92,629 shares of the semiconductor manufacturer's stock worth $21,660,000 after acquiring an additional 86,884 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AVGO. Morgan Stanley raised their price objective on Broadcom from $260.00 to $270.00 and gave the company an "overweight" rating in a research note on Friday, June 6th. Susquehanna raised their price target on Broadcom from $280.00 to $300.00 and gave the stock a "positive" rating in a research report on Friday, June 6th. Wells Fargo & Company boosted their price objective on shares of Broadcom from $230.00 to $255.00 and gave the company an "equal weight" rating in a research report on Friday, June 6th. KeyCorp raised their target price on shares of Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a report on Friday, March 7th. Finally, Seaport Res Ptn raised shares of Broadcom to a "strong-buy" rating in a research note on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $281.25.

Insider Activity at Broadcom

In other news, Director Justine Page sold 800 shares of the firm's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $185.00, for a total value of $148,000.00. Following the completion of the sale, the director now owns 25,380 shares of the company's stock, valued at $4,695,300. This trade represents a 3.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charlie B. Kawwas sold 10,000 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $252.88, for a total value of $2,528,800.00. Following the transaction, the insider now directly owns 789,784 shares in the company, valued at $199,720,577.92. This represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 811,716 shares of company stock valued at $209,906,771 over the last quarter. 2.00% of the stock is owned by corporate insiders.

Broadcom Stock Down 0.3%

Shares of AVGO traded down $0.82 during midday trading on Friday, reaching $269.35. 27,450,264 shares of the stock were exchanged, compared to its average volume of 29,072,842. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. Broadcom Inc. has a 52 week low of $128.50 and a 52 week high of $273.09. The company's 50 day moving average is $227.46 and its two-hundred day moving average is $214.61. The company has a market capitalization of $1.27 trillion, a P/E ratio of 100.88, a PEG ratio of 1.88 and a beta of 1.11.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.57 by $0.01. The firm had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The company's quarterly revenue was up 20.2% on a year-over-year basis. During the same period last year, the firm earned $10.96 earnings per share. On average, sell-side analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 20th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Friday, June 20th. Broadcom's dividend payout ratio (DPR) is currently 88.39%.

Broadcom announced that its board has authorized a stock repurchase program on Monday, April 7th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.

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.