Global X Japan Co. Ltd. Has $78.23 Million Stock Position in Broadcom Inc. $AVGO

Global X Japan Co. Ltd. grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 14.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 226,043 shares of the semiconductor manufacturer’s stock after buying an additional 29,303 shares during the quarter. Broadcom makes up about 6.0% of Global X Japan Co. Ltd.’s investment portfolio, making the stock its 3rd largest holding. Global X Japan Co. Ltd.’s holdings in Broadcom were worth $78,233,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in AVGO. State Street Corp lifted its stake in Broadcom by 0.5% in the second quarter. State Street Corp now owns 185,276,987 shares of the semiconductor manufacturer’s stock worth $51,071,601,000 after acquiring an additional 873,963 shares during the period. Invesco Ltd. boosted its holdings in Broadcom by 1.8% in the third quarter. Invesco Ltd. now owns 39,149,651 shares of the semiconductor manufacturer’s stock valued at $12,915,861,000 after acquiring an additional 700,021 shares in the last quarter. Legal & General Group Plc increased its position in Broadcom by 2.3% during the 3rd quarter. Legal & General Group Plc now owns 33,450,786 shares of the semiconductor manufacturer’s stock valued at $11,035,749,000 after purchasing an additional 748,709 shares during the period. Alliancebernstein L.P. increased its position in Broadcom by 3.7% during the 2nd quarter. Alliancebernstein L.P. now owns 30,598,590 shares of the semiconductor manufacturer’s stock valued at $8,434,501,000 after purchasing an additional 1,084,776 shares during the period. Finally, Franklin Resources Inc. raised its holdings in Broadcom by 4.0% in the 3rd quarter. Franklin Resources Inc. now owns 29,511,195 shares of the semiconductor manufacturer’s stock worth $9,736,038,000 after purchasing an additional 1,124,590 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Kirsten M. Spears sold 36,292 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $11,671,507.20. Following the sale, the chief financial officer directly owned 327,760 shares of the company’s stock, valued at $105,407,616. The trade was a 9.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 39,116 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $321.61, for a total value of $12,580,096.76. Following the completion of the sale, the insider owned 74,626 shares in the company, valued at $24,000,467.86. The trade was a 34.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 403,049 shares of company stock valued at $133,459,315. 1.90% of the stock is currently owned by insiders.

Broadcom Stock Down 2.4%

NASDAQ:AVGO opened at $293.41 on Tuesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.90 and a quick ratio of 1.73. The firm’s 50-day moving average price is $325.83 and its 200-day moving average price is $344.28. The company has a market capitalization of $1.39 trillion, a PE ratio of 57.31, a P/E/G ratio of 0.64 and a beta of 1.22. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $414.61.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.02. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The company had revenue of $19.31 billion during the quarter, compared to analysts’ expectations of $19.10 billion. During the same period last year, the company posted $1.60 EPS. Broadcom’s revenue was up 29.5% on a year-over-year basis. On average, equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Monday, March 23rd. Broadcom’s dividend payout ratio (DPR) is presently 50.78%.

Analyst Ratings Changes

Several research firms have recently commented on AVGO. Piper Sandler reaffirmed an “overweight” rating and issued a $430.00 target price (up from $375.00) on shares of Broadcom in a research report on Friday, December 12th. Zacks Research cut shares of Broadcom from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 4th. Wall Street Zen raised shares of Broadcom from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. The Goldman Sachs Group restated a “buy” rating and issued a $450.00 price objective on shares of Broadcom in a report on Monday, January 5th. Finally, Rosenblatt Securities upped their target price on Broadcom from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $435.30.

Broadcom Company Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.