Mizuho Securities USA LLC Grows Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Mizuho Securities USA LLC increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 46.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 442,665 shares of the semiconductor manufacturer’s stock after acquiring an additional 140,821 shares during the period. Broadcom comprises approximately 1.9% of Mizuho Securities USA LLC’s holdings, making the stock its 9th largest holding. Mizuho Securities USA LLC’s holdings in Broadcom were worth $102,627,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of AVGO. Swedbank AB grew its position in Broadcom by 858.7% during the 3rd quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock worth $3,168,798,000 after acquiring an additional 16,453,718 shares during the last quarter. Howard Capital Management Group LLC grew its position in Broadcom by 2,219.8% during the 3rd quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock worth $524,000 after acquiring an additional 2,908 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Broadcom by 1,019.4% during 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 buying an additional 6,540,800 shares in the last quarter. Quest Partners LLC lifted its holdings in Broadcom by 3,295.8% during the 3rd quarter. Quest Partners LLC now owns 815 shares of the semiconductor manufacturer’s stock worth $141,000 after buying an additional 791 shares in the last quarter. Finally, OneAscent Wealth Management LLC lifted its holdings in Broadcom by 899.0% during the 3rd quarter. OneAscent Wealth Management LLC now owns 4,066 shares of the semiconductor manufacturer’s stock worth $701,000 after buying an additional 3,659 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Hock E. Tan sold 45,000 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total value of $10,798,200.00. Following the sale, the chief executive officer now owns 842,836 shares in the company, valued at approximately $202,246,926.56. This represents a 5.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the sale, the director now directly owns 46,400 shares of the company’s stock, valued at $10,655,296. This represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 172,168 shares of company stock worth $40,508,877 in the last quarter. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Jefferies Financial Group upped their price objective on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Susquehanna increased their price target on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research note on Friday, December 13th. Barclays increased their price target on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. William Blair reaffirmed an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. Finally, Bank of America raised their price objective on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and a consensus target price of $231.48.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $191.66 on Friday. The stock has a market capitalization of $901.18 billion, a price-to-earnings ratio of 156.33, a PEG ratio of 2.29 and a beta of 1.01. The business has a 50-day moving average of $214.38 and a 200-day moving average of $194.79. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s payout ratio is 113.46%.

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.