Mitsubishi UFJ Asset Management UK Ltd. Buys 10,000 Shares of Broadcom Inc. (NASDAQ:AVGO)

Mitsubishi UFJ Asset Management UK Ltd. boosted its stake in Broadcom Inc. (NASDAQ:AVGO) by 71.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 24,000 shares of the semiconductor manufacturer’s stock after purchasing an additional 10,000 shares during the quarter. Broadcom comprises 2.5% of Mitsubishi UFJ Asset Management UK Ltd.’s investment portfolio, making the stock its 10th biggest position. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in Broadcom were worth $5,564,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Fort Washington Investment Advisors Inc. OH boosted its stake in Broadcom by 9.5% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 655,429 shares of the semiconductor manufacturer’s stock worth $151,955,000 after purchasing an additional 56,728 shares during the last quarter. Wall Street Financial Group Inc. acquired a new stake in Broadcom during the 4th quarter worth $317,000. Atomi Financial Group Inc. boosted its stake in Broadcom by 15.6% during the 4th quarter. Atomi Financial Group Inc. now owns 50,287 shares of the semiconductor manufacturer’s stock worth $11,658,000 after purchasing an additional 6,782 shares during the last quarter. Monterey Private Wealth Inc. boosted its stake in Broadcom by 14.8% during the 4th quarter. Monterey Private Wealth Inc. now owns 2,732 shares of the semiconductor manufacturer’s stock worth $633,000 after purchasing an additional 353 shares during the last quarter. Finally, Transform Wealth LLC boosted its stake in Broadcom by 5.5% during the 4th quarter. Transform Wealth LLC now owns 181,972 shares of the semiconductor manufacturer’s stock worth $42,188,000 after purchasing an additional 9,505 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Down 0.3 %

Shares of NASDAQ:AVGO opened at $240.28 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The firm has a market capitalization of $1.13 trillion, a PE ratio of 195.99, a price-to-earnings-growth ratio of 2.51 and a beta of 1.03. The firm’s 50-day moving average is $205.81 and its two-hundred day moving average is $179.64. Broadcom Inc. has a 1 year low of $117.43 and a 1 year high of $251.88.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same period in the prior year, the firm earned $0.98 earnings per share. The business’s quarterly revenue was up 51.2% compared to the same quarter last year. Analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.98%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio is presently 192.50%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AVGO. Truist Financial boosted their price target on shares of Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Barclays boosted their price target on shares of Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Mizuho boosted their price target on shares of Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Evercore ISI boosted their price target on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and a consensus price target of $225.83.

Insider Buying and Selling

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

Broadcom 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.