Daiwa Securities Group Inc. Raises Holdings in Broadcom Inc. (NASDAQ:AVGO)

Daiwa Securities Group Inc. lifted its stake in Broadcom Inc. (NASDAQ:AVGO) by 9.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 104,785 shares of the semiconductor manufacturer’s stock after buying an additional 8,848 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Broadcom were worth $116,966,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Cantor Fitzgerald Investment Advisor L.P boosted its position in Broadcom by 94.4% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 75,090 shares of the semiconductor manufacturer’s stock worth $47,283,000 after purchasing an additional 36,458 shares in the last quarter. Fairfield Bush & CO. boosted its position in Broadcom by 2.6% during the first quarter. Fairfield Bush & CO. now owns 4,945 shares of the semiconductor manufacturer’s stock worth $3,114,000 after purchasing an additional 123 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Broadcom by 20.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 509,603 shares of the semiconductor manufacturer’s stock worth $320,887,000 after purchasing an additional 87,945 shares in the last quarter. Loomis Sayles & Co. L P boosted its position in Broadcom by 1.1% during the first quarter. Loomis Sayles & Co. L P now owns 40,357 shares of the semiconductor manufacturer’s stock worth $25,412,000 after purchasing an additional 420 shares in the last quarter. Finally, Ergoteles LLC purchased a new position in Broadcom during the first quarter worth approximately $1,095,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Activity

In other news, Director Justine Page sold 110 shares of Broadcom stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the sale, the director now directly owns 3,125 shares of the company’s stock, valued at $4,134,375. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Kenneth Hao sold 9,160 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the completion of the transaction, the director now directly owns 45 shares of the company’s stock, valued at approximately $62,465.85. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Justine Page sold 110 shares of the company’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total value of $145,530.00. Following the transaction, the director now directly owns 3,125 shares of the company’s stock, valued at $4,134,375. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,920 shares of company stock valued at $40,306,667. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Trading Down 3.5 %

NASDAQ:AVGO traded down $46.43 on Wednesday, reaching $1,282.63. The company’s stock had a trading volume of 2,469,884 shares, compared to its average volume of 2,954,472. Broadcom Inc. has a 12-month low of $601.29 and a 12-month high of $1,438.17. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. The firm has a market cap of $594.40 billion, a price-to-earnings ratio of 47.95, a price-to-earnings-growth ratio of 2.67 and a beta of 1.25. The stock has a 50 day moving average price of $1,306.49 and a 200 day moving average price of $1,114.01.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. During the same quarter in the previous year, the business earned $9.83 earnings per share. The company’s revenue for the quarter was up 34.2% on a year-over-year basis. On average, equities analysts anticipate that Broadcom Inc. will post 35.95 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were paid a $5.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.64%. Broadcom’s payout ratio is presently 77.84%.

Analysts Set New Price Targets

A number of brokerages have issued reports on AVGO. Cantor Fitzgerald increased their price target on Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. The Goldman Sachs Group reiterated a “buy” rating and set a $1,325.00 price target on shares of Broadcom in a research report on Friday, January 19th. Mizuho increased their price target on Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Benchmark reissued a “buy” rating and set a $1,720.00 target price on shares of Broadcom in a report on Thursday, March 21st. Finally, StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Three investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,285.41.

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.