Mitsubishi UFJ Asset Management Co. Ltd. Has $2.59 Billion Stock Position in Broadcom Inc. $AVGO

Key Points

• Mitsubishi UFJ Asset Management increased its stake in Broadcom by 7.2% to 9,401,136 shares valued at $2.59 billion, making AVGO its 7th-largest holding (~0.20% of the company).
• Insiders are net sellers: CEO Hock E. Tan sold 100,000 shares for about $33.96 million (a 12.11% reduction in his position) and insiders sold 664,471 shares versus purchases of 3,550 over the last 90 days.
• Analysts have grown more bullish—multiple firms raised targets (several to $400) and the consensus rating is "Buy" with an average target of $372.52 after Broadcom reported revenue up 22% year‑over‑year and an EPS beat.

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 7.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,401,136 shares of the semiconductor manufacturer's stock after buying an additional 634,577 shares during the quarter. Broadcom comprises about 2.1% of Mitsubishi UFJ Asset Management Co. Ltd.'s holdings, making the stock its 7th largest position. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.20% of Broadcom worth $2,591,423,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in AVGO. Cheviot Value Management LLC bought a new position in shares of Broadcom in the first quarter worth approximately $25,000. Sawyer & Company Inc grew its stake in Broadcom by 62.1% in the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock worth $26,000 after buying an additional 36 shares in the last quarter. Legend Financial Advisors Inc. bought a new position in shares of Broadcom in the 2nd quarter worth $28,000. LGT Financial Advisors LLC bought a new position in shares of Broadcom in the 2nd quarter worth $31,000. Finally, Greenline Partners LLC purchased a new stake in shares of Broadcom during the 1st quarter valued at $33,000. 76.43% of the stock is currently owned by institutional investors.

Insider Activity at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 100,000 shares of the stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $339.58, for a total transaction of $33,958,000.00. Following the completion of the sale, the chief executive officer owned 725,638 shares of the company's stock, valued at $246,412,152.04. This represents a 12.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Justine Page sold 800 shares of the firm's stock in a transaction on Tuesday, October 14th. The stock was sold at an average price of $350.15, for a total transaction of $280,120.00. Following the completion of the sale, the director directly owned 22,182 shares in the company, valued at approximately $7,767,027.30. This trade represents a 3.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders purchased 3,550 shares of company stock worth $1,227,869 and sold 664,471 shares worth $225,218,280. 2.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on AVGO shares. JPMorgan Chase & Co. upped their target price on shares of Broadcom from $325.00 to $400.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. Arete Research raised Broadcom to a "strong-buy" rating in a research note on Monday, July 28th. TD Cowen upped their price objective on Broadcom from $355.00 to $370.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Rosenblatt Securities increased their price objective on Broadcom from $340.00 to $400.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Finally, Sanford C. Bernstein boosted their target price on Broadcom from $295.00 to $400.00 and gave the stock an "outperform" rating in a research report on Friday, September 5th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $372.52.

Broadcom Trading Up 0.9%

NASDAQ AVGO opened at $355.22 on Thursday. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $386.48. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. The stock has a 50-day moving average of $348.26 and a 200-day moving average of $293.39. The firm has a market cap of $1.68 trillion, a PE ratio of 90.62, a price-to-earnings-growth ratio of 1.42 and a beta of 1.19.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.03. The business had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.Broadcom's revenue for the quarter was up 22.0% compared to the same quarter last year. During the same period last year, the company earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. As a group, sell-side analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, September 22nd. Broadcom's payout ratio is presently 60.20%.

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.

Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.