Broadcom Inc. (NASDAQ:AVGO) is FUKOKU MUTUAL LIFE INSURANCE Co’s Largest Position

FUKOKU MUTUAL LIFE INSURANCE Co lifted its position in Broadcom Inc. (NASDAQ:AVGO) by 901.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 815,318 shares of the semiconductor manufacturer’s stock after buying an additional 733,873 shares during the period. Broadcom comprises 10.0% of FUKOKU MUTUAL LIFE INSURANCE Co’s portfolio, making the stock its largest holding. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Broadcom were worth $140,642,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AVGO. Hillsdale Investment Management Inc. raised its position in Broadcom by 35.5% in the 1st quarter. Hillsdale Investment Management Inc. now owns 420 shares of the semiconductor manufacturer’s stock worth $557,000 after buying an additional 110 shares during the last quarter. PAX Financial Group LLC grew its stake in shares of Broadcom by 16.8% in the first quarter. PAX Financial Group LLC now owns 230 shares of the semiconductor manufacturer’s stock worth $305,000 after acquiring an additional 33 shares during the period. Delta Asset Management LLC TN raised its holdings in shares of Broadcom by 242.9% during the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 17 shares during the last quarter. PYA Waltman Capital LLC lifted its position in Broadcom by 1.1% during the first quarter. PYA Waltman Capital LLC now owns 2,071 shares of the semiconductor manufacturer’s stock valued at $2,744,000 after purchasing an additional 23 shares during the period. Finally, Capitolis Liquid Global Markets LLC boosted its holdings in Broadcom by 2,234.0% in the first quarter. Capitolis Liquid Global Markets LLC now owns 116,700 shares of the semiconductor manufacturer’s stock worth $154,675,000 after purchasing an additional 111,700 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on AVGO shares. Mizuho boosted their target price on shares of Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Benchmark reissued a “buy” rating and issued a $210.00 target price on shares of Broadcom in a report on Friday, September 6th. Rosenblatt Securities dropped their target price on Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, September 6th. Cantor Fitzgerald upped their price target on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Finally, Morgan Stanley raised their price objective on shares of Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $192.79.

Broadcom Price Performance

AVGO stock opened at $164.84 on Monday. The company has a market capitalization of $769.90 billion, a PE ratio of 143.21, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17. The company’s fifty day moving average price is $172.84 and its 200-day moving average price is $159.35. Broadcom Inc. has a one year low of $90.31 and a one year high of $186.42. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04. The business had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business’s revenue was up 47.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.95 EPS. On average, equities analysts anticipate that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were issued a $0.53 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.29%. Broadcom’s dividend payout ratio (DPR) is 184.19%.

Insider Buying and Selling

In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of Broadcom stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total value of $4,240,404.00. Following the completion of the transaction, the insider now directly owns 753,280 shares of the company’s stock, valued at $126,754,425.60. This trade represents a 3.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Hock E. Tan sold 150,000 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the sale, the chief executive officer now owns 1,181,910 shares in the company, valued at $204,399,515.40. This represents a 11.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 311,080 shares of company stock worth $53,540,590. 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.