Nomura Asset Management Co. Ltd. Increases Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Nomura Asset Management Co. Ltd. lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 13.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 362,238 shares of the semiconductor manufacturer’s stock after acquiring an additional 41,937 shares during the period. Broadcom makes up about 1.7% of Nomura Asset Management Co. Ltd.’s investment portfolio, making the stock its 5th biggest position. Nomura Asset Management Co. Ltd.’s holdings in Broadcom were worth $404,348,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Stuart Chaussee & Associates Inc. acquired a new position in Broadcom in the fourth quarter valued at about $25,000. PSI Advisors LLC boosted its holdings in shares of Broadcom by 66.7% in the 4th quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after acquiring an additional 10 shares in the last quarter. BKM Wealth Management LLC bought a new stake in Broadcom during the 4th quarter worth approximately $29,000. CKW Financial Group acquired a new stake in Broadcom during the 4th quarter valued at $30,000. Finally, Bfsg LLC bought a new position in Broadcom in the 4th quarter valued at $35,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Broadcom

In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom 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 approximately $5,991,048.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Justine Page sold 110 shares of the firm’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the completion of 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. Insiders sold 29,920 shares of company stock valued at $40,306,667 in the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on AVGO shares. UBS Group lifted their price target on Broadcom to $1,480.00 and gave the company a “buy” rating in a report on Monday, February 26th. Benchmark reiterated a “buy” rating and set a $1,720.00 target price on shares of Broadcom in a research report on Thursday, March 21st. Barclays boosted their price objective on shares of Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. Cantor Fitzgerald lifted their target price on Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. Finally, 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 note on Thursday, March 7th. Three equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,296.91.

Broadcom Stock Up 1.0 %

Shares of AVGO stock traded up $14.55 during trading hours on Friday, hitting $1,407.84. 1,672,282 shares of the company were exchanged, compared to its average volume of 2,770,527. Broadcom Inc. has a 52 week low of $690.77 and a 52 week high of $1,445.40. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. The business has a 50 day moving average of $1,321.19 and a two-hundred day moving average of $1,197.06. The company has a market capitalization of $652.42 billion, a PE ratio of 52.15, a PEG ratio of 2.78 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. The firm had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company’s revenue was up 34.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $9.83 EPS. Analysts anticipate that Broadcom Inc. will post 36.06 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were given a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is currently 77.84%.

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.