Mizuho Securities Co. Ltd. Makes New $56,000 Investment in Broadcom Inc. (NASDAQ:AVGO)

Mizuho Securities Co. Ltd. bought a new stake in Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, HoldingsChannel.com reports. The firm bought 50 shares of the semiconductor manufacturer’s stock, valued at approximately $56,000.

Several other hedge funds and other institutional investors have also made changes to their positions in AVGO. Stanley Laman Group Ltd. purchased a new position in shares of Broadcom in the third quarter valued at approximately $1,110,000. Impact Partnership Wealth LLC increased its holdings in shares of Broadcom by 151.8% in the third quarter. Impact Partnership Wealth LLC now owns 141 shares of the semiconductor manufacturer’s stock valued at $117,000 after purchasing an additional 85 shares during the last quarter. 1900 Wealth Management LLC increased its holdings in shares of Broadcom by 120.3% in the third quarter. 1900 Wealth Management LLC now owns 672 shares of the semiconductor manufacturer’s stock valued at $558,000 after purchasing an additional 367 shares during the last quarter. Kozak & Associates Inc. increased its holdings in shares of Broadcom by 4.8% in the third quarter. Kozak & Associates Inc. now owns 306 shares of the semiconductor manufacturer’s stock valued at $258,000 after purchasing an additional 14 shares during the last quarter. Finally, Avior Wealth Management LLC increased its holdings in shares of Broadcom by 1.0% in the third quarter. Avior Wealth Management LLC now owns 2,426 shares of the semiconductor manufacturer’s stock valued at $2,015,000 after purchasing an additional 23 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Stock Up 2.0 %

NASDAQ:AVGO traded up $24.73 during midday trading on Tuesday, reaching $1,249.19. The company had a trading volume of 2,198,693 shares, compared to its average volume of 2,952,703. The firm has a market capitalization of $578.90 billion, a price-to-earnings ratio of 46.30, a PEG ratio of 2.46 and a beta of 1.25. The stock’s fifty day simple moving average is $1,304.25 and its 200-day simple moving average is $1,128.64. Broadcom Inc. has a 12-month low of $601.29 and a 12-month high of $1,438.17. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05.

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, beating analysts’ consensus estimates of $8.95 by $2.04. The firm had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. Broadcom’s revenue was up 34.2% compared to the same quarter last year. During the same period last year, the business posted $9.83 earnings per share. On average, sell-side analysts anticipate that Broadcom Inc. will post 35.88 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors 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 1.68%. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Insider Activity at Broadcom

In related news, Director Kenneth Hao sold 9,160 shares of Broadcom stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the transaction, the director now directly owns 45 shares in the company, valued at $62,465.85. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Broadcom news, Director Kenneth Hao sold 9,160 shares of Broadcom stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the completion of the sale, the director now directly owns 45 shares of the company’s stock, valued at approximately $62,465.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Justine Page sold 110 shares of Broadcom stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total value 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 disclosure for this sale can be found here. Over the last three months, insiders sold 29,920 shares of company stock worth $40,306,667. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on AVGO shares. Susquehanna increased their price target on Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a report on Wednesday, February 28th. StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,325.00 price target on shares of Broadcom in a report on Friday, January 19th. Rosenblatt Securities reissued a “buy” rating and set a $1,500.00 target price on shares of Broadcom in a research note on Thursday, March 21st. Finally, UBS Group raised their target price on Broadcom to $1,480.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. Three equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and an average target price of $1,285.41.

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.