Rakuten Securities Inc. Takes $1.35 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Rakuten Securities Inc. bought a new stake in Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,210 shares of the semiconductor manufacturer’s stock, valued at approximately $1,351,000. Broadcom comprises 1.1% of Rakuten Securities Inc.’s portfolio, making the stock its 19th biggest position.

Other large investors have also recently bought and sold shares of the company. BetterWealth LLC lifted its stake in Broadcom by 1.5% in the fourth quarter. BetterWealth LLC now owns 602 shares of the semiconductor manufacturer’s stock valued at $672,000 after buying an additional 9 shares during the period. Rise Advisors LLC lifted its position in shares of Broadcom by 33.3% during the 4th quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock valued at $44,000 after acquiring an additional 10 shares during the period. CX Institutional lifted its position in shares of Broadcom by 0.8% during the 4th quarter. CX Institutional now owns 1,289 shares of the semiconductor manufacturer’s stock valued at $1,439,000 after acquiring an additional 10 shares during the period. Cascade Investment Group Inc. boosted its stake in Broadcom by 1.7% during the fourth quarter. Cascade Investment Group Inc. now owns 609 shares of the semiconductor manufacturer’s stock worth $680,000 after acquiring an additional 10 shares in the last quarter. Finally, Sabal Trust CO grew its holdings in Broadcom by 1.6% in the fourth quarter. Sabal Trust CO now owns 640 shares of the semiconductor manufacturer’s stock worth $714,000 after purchasing an additional 10 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Performance

Shares of AVGO stock traded down $33.91 during trading hours on Wednesday, hitting $1,295.15. 870,604 shares of the company were exchanged, compared to its average volume of 2,932,050. 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 stock has a market capitalization of $600.20 billion, a price-to-earnings ratio of 48.70, a P/E/G ratio of 2.67 and a beta of 1.25. The firm has a fifty day simple moving average of $1,306.49 and a 200 day simple moving average of $1,114.01. Broadcom Inc. has a 52-week low of $601.29 and a 52-week high of $1,438.17.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating the consensus estimate of $8.95 by $2.04. The business 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 in the prior year, the company earned $9.83 earnings per share. Research analysts predict that Broadcom Inc. will post 35.95 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.62%. Broadcom’s dividend payout ratio is presently 77.84%.

Insider Transactions at Broadcom

In related news, Director Kenneth Hao sold 9,160 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the sale, the director now directly owns 45 shares in the company, valued at approximately $62,465.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Justine Page sold 110 shares of the 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 in the company, valued at approximately $4,134,375. The disclosure for this sale can be found here. Insiders sold 29,920 shares of company stock worth $40,306,667 over the last quarter. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of research analyst reports. UBS Group increased their price objective on shares of Broadcom to $1,480.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a report on Monday, April 8th. Benchmark restated a “buy” rating and set a $1,720.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Oppenheimer reissued an “outperform” rating and issued a $1,500.00 price objective (up from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,325.00 target price on shares of Broadcom in a research report on Friday, January 19th. Three 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.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,281.09.

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.