Mitsubishi UFJ Trust & Banking Corp Decreases Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Mitsubishi UFJ Trust & Banking Corp lowered its stake in Broadcom Inc. (NASDAQ:AVGO) by 3.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,267,976 shares of the semiconductor manufacturer’s stock after selling 69,956 shares during the quarter. Broadcom makes up approximately 1.2% of Mitsubishi UFJ Trust & Banking Corp’s investment portfolio, making the stock its 9th largest position. Mitsubishi UFJ Trust & Banking Corp’s holdings in Broadcom were worth $525,808,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Canton Hathaway LLC bought a new stake in Broadcom during the 4th quarter worth $26,000. Rialto Wealth Management LLC bought a new stake in shares of Broadcom during the fourth quarter worth about $26,000. Bellevue Asset Management LLC acquired a new position in shares of Broadcom in the fourth quarter valued at approximately $33,000. Pin Oak Investment Advisors Inc. raised its holdings in Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 135 shares during the last quarter. Finally, Synergy Investment Management LLC acquired a new stake in Broadcom during the 4th quarter worth approximately $35,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Broadcom

In other Broadcom news, Director Check Kian Low sold 48,000 shares of the stock in a transaction on 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 directly owns 113,050 shares of the company’s stock, valued at approximately $26,606,317.50. This represents a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the business’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 completion of the sale, the director now owns 46,400 shares in the company, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 92,000 shares of company stock worth $21,494,560 in the last ninety days. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on AVGO shares. TD Cowen upped their price target on shares of Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Barclays increased their price objective on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, January 17th. JPMorgan Chase & Co. lifted their target price on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Mizuho lowered their price objective on Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, March 7th. Finally, William Blair reiterated an “outperform” rating on shares of Broadcom in a report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and an average price target of $231.48.

Broadcom Stock Performance

Shares of AVGO opened at $191.25 on Tuesday. The stock has a 50 day moving average of $213.70 and a 200 day moving average of $195.64. The company has a market capitalization of $899.25 billion, a price-to-earnings ratio of 156.00, a PEG ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 1.23%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s dividend payout ratio is presently 113.46%.

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.