Asset Management One Co. Ltd. Purchases 197 Shares of Broadcom Inc. (NASDAQ:AVGO)

Asset Management One Co. Ltd. lifted its position in Broadcom Inc. (NASDAQ:AVGOGet Rating) by 0.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 184,127 shares of the semiconductor manufacturer’s stock after acquiring an additional 197 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Broadcom were worth $81,754,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Boston Trust Walden Corp grew its position in Broadcom by 6.9% in the second quarter. Boston Trust Walden Corp now owns 1,747 shares of the semiconductor manufacturer’s stock worth $849,000 after acquiring an additional 113 shares in the last quarter. Veracity Capital LLC grew its position in Broadcom by 7.6% in the third quarter. Veracity Capital LLC now owns 537 shares of the semiconductor manufacturer’s stock worth $239,000 after acquiring an additional 38 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC purchased a new position in Broadcom in the third quarter worth about $118,000. Asset Dedication LLC grew its position in Broadcom by 10.6% in the second quarter. Asset Dedication LLC now owns 5,517 shares of the semiconductor manufacturer’s stock worth $2,615,000 after acquiring an additional 531 shares in the last quarter. Finally, Bell Bank purchased a new position in Broadcom in the second quarter worth about $214,000. 81.28% of the stock is owned by institutional investors.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Justine Page sold 170 shares of the company’s stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $574.86, for a total value of $97,726.20. Following the sale, the director now directly owns 2,981 shares of the company’s stock, valued at $1,713,657.66. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.30% of the stock is owned by corporate insiders.

Broadcom Price Performance

Shares of AVGO opened at $570.56 on Monday. The firm has a market capitalization of $238.43 billion, a PE ratio of 21.54, a price-to-earnings-growth ratio of 1.19 and a beta of 1.08. The company has a debt-to-equity ratio of 1.72, a current ratio of 2.62 and a quick ratio of 2.35. Broadcom Inc. has a 1-year low of $415.07 and a 1-year high of $645.31. The company’s fifty day moving average price is $549.52 and its 200-day moving average price is $514.14.

Broadcom (NASDAQ:AVGOGet Rating) last announced its quarterly earnings data on Thursday, December 8th. The semiconductor manufacturer reported $9.75 earnings per share for the quarter, beating analysts’ consensus estimates of $9.50 by $0.25. The firm had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.90 billion. Broadcom had a net margin of 34.62% and a return on equity of 70.00%. The business’s quarterly revenue was up 20.6% compared to the same quarter last year. During the same period in the previous year, the company earned $7.01 earnings per share. On average, equities research analysts predict that Broadcom Inc. will post 37.39 EPS for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Tuesday, December 20th were issued a $4.60 dividend. This represents a $18.40 annualized dividend and a yield of 3.22%. This is a positive change from Broadcom’s previous quarterly dividend of $4.10. The ex-dividend date was Monday, December 19th. Broadcom’s dividend payout ratio is presently 69.43%.

Analysts Set New Price Targets

Several brokerages have issued reports on AVGO. Mizuho dropped their target price on Broadcom from $725.00 to $700.00 and set a “buy” rating for the company in a research report on Friday, December 9th. Susquehanna Bancshares dropped their target price on Broadcom from $680.00 to $650.00 and set a “positive” rating for the company in a research report on Monday, December 5th. StockNews.com upgraded Broadcom from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 5th. Susquehanna dropped their target price on Broadcom from $680.00 to $650.00 in a research report on Monday, December 5th. Finally, Bank of America boosted their target price on Broadcom from $625.00 to $650.00 in a research report on Friday, December 9th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and an average target price of $667.21.

Broadcom Profile

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Broadcom, Inc is a global technology company, which designs, develops, and supplies semiconductor and infrastructure software solutions. It operates through the Semiconductor Solutions and Infrastructure Software segments. The Semiconductor Solutions segment manages movement of data in data center, telecom, enterprise, and embedded networking applications.

See Also

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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