Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. increased its stake in Broadcom Inc. (NASDAQ:AVGO) by 10.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,351 shares of the semiconductor manufacturer’s stock after acquiring an additional 995 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Broadcom were worth $11,554,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of AVGO. PSI Advisors LLC boosted its position in shares of Broadcom by 66.7% in the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after buying an additional 10 shares during the period. Macroview Investment Management LLC acquired a new stake in shares of Broadcom in the third quarter worth $29,000. BKM Wealth Management LLC acquired a new stake in shares of Broadcom in the fourth quarter worth $29,000. CKW Financial Group acquired a new stake in shares of Broadcom in the fourth quarter worth $30,000. Finally, Bfsg LLC acquired a new stake in shares of Broadcom in the fourth quarter worth $35,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Performance

Shares of Broadcom stock traded up $7.63 during trading on Wednesday, reaching $1,256.82. The company’s stock had a trading volume of 2,007,720 shares, compared to its average volume of 2,940,795. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. The business’s fifty day moving average price is $1,304.15 and its 200-day moving average price is $1,129.53. The firm has a market cap of $582.44 billion, a price-to-earnings ratio of 46.58, a price-to-earnings-growth ratio of 2.50 and a beta of 1.25. Broadcom Inc. has a one year low of $601.29 and a one year high of $1,438.17.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping 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 business had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. During the same period in the previous year, the company posted $9.83 earnings per share. The firm’s revenue for the quarter was up 34.2% on a year-over-year basis. As a group, equities research analysts predict that Broadcom Inc. will post 35.88 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were paid a dividend of $5.25 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.67%. Broadcom’s dividend payout ratio is 77.84%.

Analysts Set New Price Targets

AVGO has been the subject of a number of research reports. Oppenheimer reissued an “outperform” rating and set a $1,500.00 price objective (up previously from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Susquehanna lifted their price objective on Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research report on Wednesday, February 28th. UBS Group lifted their price objective on Broadcom to $1,480.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Barclays lifted their price objective on Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,285.41.

Insider Activity at Broadcom

In related news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the transaction, the director now directly owns 4,643 shares in the company, valued at $5,991,048.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Broadcom news, Director Kenneth Hao sold 9,160 shares of Broadcom stock in a transaction that occurred on 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 sale, the director now directly owns 45 shares of the company’s stock, valued at $62,465.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the sale, the director now directly owns 4,643 shares in the company, valued at $5,991,048.62. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock worth $40,306,667 over the last three months. Company insiders own 2.00% of the company’s stock.

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.