Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stake in Broadcom Inc. $AVGO

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Broadcom Inc. (NASDAQ:AVGO) by 4.7% in the fourth quarter, Holdings Channel reports. The fund owned 10,259,220 shares of the semiconductor manufacturer’s stock after acquiring an additional 463,370 shares during the quarter. Broadcom accounts for 2.4% of Mitsubishi UFJ Asset Management Co. Ltd.’s portfolio, making the stock its 6th largest holding. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Broadcom were worth $3,566,310,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Broadcom by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock valued at $167,064,997,000 after purchasing an additional 3,919,715 shares in the last quarter. Invesco Ltd. increased its stake in shares of Broadcom by 1.8% in the third quarter. Invesco Ltd. now owns 39,149,651 shares of the semiconductor manufacturer’s stock valued at $12,915,861,000 after buying an additional 700,021 shares during the period. Legal & General Group Plc increased its stake in shares of Broadcom by 2.3% in the third quarter. Legal & General Group Plc now owns 33,450,786 shares of the semiconductor manufacturer’s stock valued at $11,035,749,000 after buying an additional 748,709 shares during the period. Franklin Resources Inc. boosted its position in Broadcom by 4.0% during the 3rd quarter. Franklin Resources Inc. now owns 29,511,195 shares of the semiconductor manufacturer’s stock worth $9,736,038,000 after buying an additional 1,124,590 shares during the period. Finally, Amundi boosted its position in Broadcom by 3.3% during the 3rd quarter. Amundi now owns 22,216,816 shares of the semiconductor manufacturer’s stock worth $7,453,320,000 after buying an additional 716,523 shares during the period. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO stock opened at $419.30 on Wednesday. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.80. The firm has a fifty day simple moving average of $358.98 and a two-hundred day simple moving average of $353.01. Broadcom Inc. has a 12 month low of $221.60 and a 12 month high of $437.68. The firm has a market capitalization of $1.99 trillion, a PE ratio of 81.89, a price-to-earnings-growth ratio of 0.89 and a beta of 1.43.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.02. The firm had revenue of $19.31 billion for the quarter, compared to analyst estimates of $19.10 billion. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The business’s quarterly revenue was up 29.5% compared to the same quarter last year. During the same period last year, the firm earned $1.60 earnings per share. Analysts forecast that Broadcom Inc. will post 9.95 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd were paid a dividend of $0.65 per share. The ex-dividend date was Monday, March 23rd. This represents a $2.60 dividend on an annualized basis and a yield of 0.6%. Broadcom’s payout ratio is 50.78%.

Analysts Set New Price Targets

Several equities analysts have issued reports on AVGO shares. Rosenblatt Securities restated a “buy” rating and issued a $500.00 price target on shares of Broadcom in a research report on Tuesday, April 7th. JPMorgan Chase & Co. boosted their price objective on shares of Broadcom from $475.00 to $500.00 and gave the stock an “overweight” rating in a research note on Thursday, March 5th. Citigroup restated a “buy” rating and issued a $500.00 price objective (up from $475.00) on shares of Broadcom in a report on Tuesday. Erste Group Bank lowered Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, April 2nd. Finally, Mizuho reaffirmed an “outperform” rating and set a $480.00 target price on shares of Broadcom in a report on Thursday, April 16th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and an average price target of $436.13.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Citi raised its price target on Broadcom to $500 from $475 and kept a Buy rating, citing strong AI demand and expectations for another strong quarter. Citi Raises Broadcom Price Target to $500: AI Demand Sets Up Another Big April Quarter
• Positive Sentiment: Other Wall Street coverage also pointed to continued upside for Broadcom, reflecting optimism around its AI infrastructure exposure and earnings outlook. Wall Street sets Broadcom (AVGO) stock price for the next 12 months
• Positive Sentiment: Zacks highlighted Broadcom’s strong earnings-surprise history and said the company appears well-positioned to beat estimates again in its next report. Will Broadcom Inc. (AVGO) Beat Estimates Again in Its Next Earnings Report?
• Neutral Sentiment: Broadcom’s latest stock move also appears tied to a recent run-up, with one article saying investors were taking profits after a large AI-driven rally rather than reacting to a fundamental deterioration. Why analysts are bullish on Broadcom stock despite a 4% fall today?
• Neutral Sentiment: Several hedge-fund and institutional filings showed mixed activity in Broadcom, with some firms trimming holdings while Mirova US LLC added shares; these moves are notable but not necessarily a direct signal on the company’s fundamentals. PRIMECAP Management Co trims Broadcom stake by 12,410 shares Cincinnati Specialty Underwriters slashes Broadcom stake by 207K shares Mirova US LLC Boosts Broadcom Stake by 183,850 Shares

Insider Buying and Selling

In other news, insider Charlie B. Kawwas sold 39,116 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $321.61, for a total value of $12,580,096.76. Following the transaction, the insider owned 74,626 shares in the company, valued at $24,000,467.86. This trade represents a 34.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kirsten M. Spears sold 36,292 shares of Broadcom stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $11,671,507.20. Following the transaction, the chief financial officer directly owned 327,760 shares in the company, valued at approximately $105,407,616. The trade was a 9.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 324,282 shares of company stock worth $106,425,249 over the last 90 days. Company insiders own 1.90% of the company’s stock.

About Broadcom

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.