Mitsubishi UFJ Asset Management Co. Ltd. Increases Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 7.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 7,793,754 shares of the semiconductor manufacturer’s stock after purchasing an additional 544,441 shares during the period. Broadcom makes up about 1.8% of Mitsubishi UFJ Asset Management Co. Ltd.’s holdings, making the stock its 9th biggest holding. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Broadcom were worth $1,812,437,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Howard Capital Management Group LLC increased its position in shares of Broadcom by 2,219.8% during the third quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock valued at $524,000 after acquiring an additional 2,908 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Broadcom by 1,019.4% in the 3rd quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer’s stock worth $1,238,966,000 after purchasing an additional 6,540,800 shares in the last quarter. Quest Partners LLC raised its stake in shares of Broadcom by 3,295.8% in the third quarter. Quest Partners LLC now owns 815 shares of the semiconductor manufacturer’s stock worth $141,000 after purchasing an additional 791 shares during the last quarter. Wealth Dimensions Group Ltd. lifted its holdings in shares of Broadcom by 1,001.6% during the third quarter. Wealth Dimensions Group Ltd. now owns 4,043 shares of the semiconductor manufacturer’s stock valued at $697,000 after purchasing an additional 3,676 shares in the last quarter. Finally, Centaurus Financial Inc. boosted its position in shares of Broadcom by 1,073.8% during the third quarter. Centaurus Financial Inc. now owns 83,178 shares of the semiconductor manufacturer’s stock valued at $14,348,000 after buying an additional 76,092 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Trading Down 4.8 %

Shares of Broadcom stock opened at $179.27 on Thursday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The company has a fifty day moving average of $211.99 and a 200 day moving average of $195.88. The company has a market capitalization of $842.92 billion, a P/E ratio of 146.22, a P/E/G ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.32%. The ex-dividend date is Thursday, March 20th. Broadcom’s dividend payout ratio is currently 113.46%.

Insider Activity at Broadcom

In other news, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the completion of the transaction, the director now owns 113,050 shares in the company, valued at $26,606,317.50. This trade represents a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 40,000 shares of Broadcom stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total value of $9,279,200.00. Following the completion of the sale, the insider now directly owns 696,730 shares in the company, valued at $161,627,425.40. This trade represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 122,000 shares of company stock valued at $27,334,060. 2.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Citigroup upped their target price on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Susquehanna increased their price objective on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price target on shares of Broadcom in a report on Friday, March 7th. Finally, Benchmark reaffirmed a “buy” rating and issued a $255.00 price objective on shares of Broadcom in a report on Friday, March 7th. Three research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $231.48.

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.