Mitsubishi UFJ Asset Management UK Ltd. Acquires 6,500 Shares of Broadcom Inc. $AVGO

Key Points

• Mitsubishi UFJ Asset Management UK Ltd. increased its holdings in Broadcom Inc. by 86.7% in Q2, acquiring an additional 6,500 shares, bringing its total to 14,000 shares valued at approximately $3.86 million.
• Broadcom reported earnings of $1.69 per share for the quarter, surpassing analyst expectations and demonstrating a year-over-year revenue growth of 22.0% to $15.95 billion.
• The company declared a quarterly dividend of $0.59 per share, representing an annualized dividend yield of 0.7%, with a payout ratio of 60.20%.

Mitsubishi UFJ Asset Management UK Ltd. raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 86.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,000 shares of the semiconductor manufacturer's stock after purchasing an additional 6,500 shares during the quarter. Broadcom accounts for approximately 2.0% of Mitsubishi UFJ Asset Management UK Ltd.'s portfolio, making the stock its 13th largest position. Mitsubishi UFJ Asset Management UK Ltd.'s holdings in Broadcom were worth $3,859,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sawyer & Company Inc grew its stake in shares of 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 acquiring an additional 36 shares in the last quarter. PFS Partners LLC grew its stake in shares of Broadcom by 38.4% in the 2nd quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer's stock worth $38,000 after acquiring an additional 38 shares in the last quarter. Waddell & Associates LLC grew its stake in shares of Broadcom by 2.1% in the 1st quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer's stock worth $350,000 after acquiring an additional 43 shares in the last quarter. Luts & Greenleigh Group Inc. grew its stake in shares of Broadcom by 1.3% in the 2nd quarter. Luts & Greenleigh Group Inc. now owns 3,405 shares of the semiconductor manufacturer's stock worth $939,000 after acquiring an additional 44 shares in the last quarter. Finally, Challenger Wealth Management grew its stake in shares of Broadcom by 1.3% in the 1st quarter. Challenger Wealth Management now owns 3,504 shares of the semiconductor manufacturer's stock worth $587,000 after acquiring an additional 45 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Broadcom Trading Up 0.1%

Shares of AVGO opened at $338.37 on Friday. The business's 50-day moving average price is $318.43 and its 200-day moving average price is $257.77. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $374.23. The stock has a market cap of $1.60 trillion, a PE ratio of 86.32, a P/E/G ratio of 1.87 and a beta of 1.20. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86.

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

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were given a dividend of $0.59 per share. The ex-dividend date was Monday, September 22nd. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Broadcom's dividend payout ratio is currently 60.20%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on AVGO shares. Morgan Stanley upped their target price on shares of Broadcom from $338.00 to $357.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 2nd. Weiss Ratings reiterated a "buy (b-)" rating on shares of Broadcom in a research note on Saturday, September 27th. HSBC raised shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price target on the stock in a report on Tuesday, June 24th. Wall Street Zen raised shares of Broadcom from a "hold" rating to a "buy" rating in a report on Saturday, September 6th. Finally, Macquarie started coverage on shares of Broadcom in a report on Monday, September 15th. They issued an "outperform" rating and a $420.00 price target on the stock. Three analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Broadcom currently has an average rating of "Buy" and a consensus price target of $357.22.

Insider Buying and Selling

In related news, CEO Hock E. Tan sold 148,154 shares of the company's stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $336.67, for a total value of $49,879,007.18. Following the transaction, the chief executive officer directly owned 825,998 shares in the company, valued at approximately $278,088,746.66. This represents a 15.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 16,558 shares of the company's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the completion of the transaction, the insider owned 329,302 shares in the company, valued at approximately $114,468,668.22. This trade represents a 4.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 3,550 shares of company stock valued at $1,227,869 and sold 666,071 shares valued at $225,623,008. 2.00% of the stock is currently owned by company insiders.

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.

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