Broadcom Inc. (NASDAQ:AVGO) is Global X Japan Co. Ltd.’s 2nd Largest Position

Global X Japan Co. Ltd. reduced its stake in Broadcom Inc. (NASDAQ:AVGO) by 3.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 268,854 shares of the semiconductor manufacturer’s stock after selling 9,094 shares during the period. Broadcom makes up 7.8% of Global X Japan Co. Ltd.’s portfolio, making the stock its 2nd biggest position. Global X Japan Co. Ltd.’s holdings in Broadcom were worth $62,331,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of AVGO. Fairvoy Private Wealth LLC purchased a new stake in Broadcom during the 4th quarter valued at $6,670,000. Ameliora Wealth Management Ltd. lifted its holdings in shares of Broadcom by 17.5% during the fourth quarter. Ameliora Wealth Management Ltd. now owns 31,465 shares of the semiconductor manufacturer’s stock valued at $7,295,000 after purchasing an additional 4,680 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of Broadcom by 1.1% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 222,363 shares of the semiconductor manufacturer’s stock valued at $51,539,000 after buying an additional 2,500 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Broadcom by 10.2% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 644,200 shares of the semiconductor manufacturer’s stock worth $149,351,000 after buying an additional 59,679 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised its position in Broadcom by 500.8% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 152,414 shares of the semiconductor manufacturer’s stock worth $35,336,000 after buying an additional 127,044 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the sale, the director now owns 46,400 shares in the company, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Check Kian Low sold 48,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the transaction, the director now owns 113,050 shares of the company’s stock, valued at $26,606,317.50. This trade represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 191,278 shares of company stock worth $44,964,800. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Up 4.5 %

Shares of AVGO opened at $235.04 on Tuesday. The business’s 50 day moving average is $219.76 and its 200 day moving average is $184.56. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 12-month low of $119.76 and a 12-month high of $251.88. The company has a market capitalization of $1.10 trillion, a PE ratio of 191.71, a price-to-earnings-growth ratio of 2.42 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.03. The firm had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 earnings per share. Research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a dividend of $0.59 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.00%. Broadcom’s dividend payout ratio (DPR) is presently 192.50%.

Analysts Set New Price Targets

AVGO has been the topic of a number of recent analyst reports. Robert W. Baird raised their price target on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. TD Cowen lifted their target price on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Jefferies Financial Group increased their price target on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a report on Friday, December 13th. Morgan Stanley cut their price objective on Broadcom from $265.00 to $246.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Finally, Truist Financial increased their target price on Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and a consensus target price of $225.04.

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.