Daiwa Securities Group Inc. Purchases 8,848 Shares of Broadcom Inc. (NASDAQ:AVGO)

Daiwa Securities Group Inc. boosted its position in Broadcom Inc. (NASDAQ:AVGO) by 9.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 104,785 shares of the semiconductor manufacturer’s stock after acquiring an additional 8,848 shares during the period. Daiwa Securities Group Inc.’s holdings in Broadcom were worth $116,966,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AVGO. Oakworth Capital Inc. increased its position in shares of Broadcom by 6.3% during the fourth quarter. Oakworth Capital Inc. now owns 1,176 shares of the semiconductor manufacturer’s stock valued at $1,313,000 after buying an additional 70 shares during the period. Telos Capital Management Inc. increased its position in shares of Broadcom by 3.2% during the fourth quarter. Telos Capital Management Inc. now owns 450 shares of the semiconductor manufacturer’s stock valued at $502,000 after buying an additional 14 shares during the period. Alpha Omega Wealth Management LLC increased its position in shares of Broadcom by 66.6% during the fourth quarter. Alpha Omega Wealth Management LLC now owns 4,261 shares of the semiconductor manufacturer’s stock valued at $4,756,000 after buying an additional 1,704 shares during the period. KLCM Advisors Inc. bought a new stake in shares of Broadcom during the fourth quarter valued at about $753,000. Finally, Rakuten Securities Inc. bought a new stake in shares of Broadcom during the fourth quarter valued at about $1,351,000. 76.43% of the stock is currently owned by institutional investors.

Broadcom Trading Down 3.5 %

Shares of Broadcom stock traded down $46.43 during midday trading on Wednesday, reaching $1,282.63. 2,469,884 shares of the company’s stock traded hands, compared to its average volume of 2,954,472. 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 company has a market cap of $594.40 billion, a PE 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 of $1,306.49 and a 200-day moving average of $1,114.01. Broadcom Inc. has a 12 month low of $601.29 and a 12 month high of $1,438.17.

Broadcom (NASDAQ:AVGO) last announced 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. The company had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The firm’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $9.83 earnings per share. As a group, equities analysts expect that Broadcom Inc. will post 35.95 EPS for the current fiscal year.

Broadcom Dividend Announcement

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

Insider Activity

In other news, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction on 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 completion of 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 through this hyperlink. In related news, Director Justine Page sold 110 shares of the stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the sale, the director now directly owns 3,125 shares of the company’s stock, valued at $4,134,375. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Eddy W. Hartenstein sold 3,150 shares of the stock in a transaction 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 sold 29,920 shares of company stock worth $40,306,667 over the last three months. 2.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AVGO has been the topic of several analyst reports. Evercore ISI initiated coverage on Broadcom in a research report on Tuesday. They set an “outperform” rating and a $1,620.00 price target on the stock. Mizuho upped their price target on Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Benchmark reissued a “buy” rating and set a $1,720.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a report on Monday, April 8th. Finally, StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,285.41.

Broadcom Company 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.