Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Klingenstein Fields & Co. LP

Klingenstein Fields & Co. LP raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 887.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 710,943 shares of the semiconductor manufacturer's stock after buying an additional 638,956 shares during the quarter. Broadcom comprises about 4.9% of Klingenstein Fields & Co. LP's investment portfolio, making the stock its biggest holding. Klingenstein Fields & Co. LP's holdings in Broadcom were worth $122,638,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the stock. Lion Street Advisors LLC increased its stake in Broadcom by 1.9% during the 2nd quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer's stock worth $520,000 after buying an additional 6 shares in the last quarter. O Dell Group LLC boosted its stake in Broadcom by 2.3% during the 1st quarter. O Dell Group LLC now owns 356 shares of the semiconductor manufacturer's stock worth $472,000 after purchasing an additional 8 shares during the last quarter. Hudson Value Partners LLC raised its position in shares of Broadcom by 2.7% in the first quarter. Hudson Value Partners LLC now owns 308 shares of the semiconductor manufacturer's stock valued at $408,000 after buying an additional 8 shares during the last quarter. Renasant Bank boosted its position in Broadcom by 1.0% during the first quarter. Renasant Bank now owns 785 shares of the semiconductor manufacturer's stock worth $1,040,000 after acquiring an additional 8 shares during the last quarter. Finally, Optimum Investment Advisors raised its holdings in Broadcom by 0.6% in the 2nd quarter. Optimum Investment Advisors now owns 1,409 shares of the semiconductor manufacturer's stock valued at $2,262,000 after acquiring an additional 8 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Morgan Stanley upped their price target on Broadcom from $176.00 to $180.00 and gave the company an "overweight" rating in a research report on Friday, September 6th. Mizuho boosted their price target on shares of Broadcom from $190.00 to $220.00 and gave the company an "outperform" rating in a research report on Monday, October 14th. StockNews.com cut shares of Broadcom from a "buy" rating to a "hold" rating in a research report on Tuesday, July 23rd. Rosenblatt Securities decreased their target price on shares of Broadcom from $2,400.00 to $240.00 and set a "buy" rating on the stock in a report on Friday, September 6th. Finally, UBS Group raised their price target on shares of Broadcom from $170.00 to $200.00 and gave the stock a "buy" rating in a report on Monday. Two equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $192.79.

Broadcom Stock Up 2.4 %

Shares of AVGO traded up $4.33 during mid-day trading on Thursday, reaching $183.88. The company's stock had a trading volume of 13,179,859 shares, compared to its average volume of 29,831,672. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. Broadcom Inc. has a 12-month low of $89.90 and a 12-month high of $186.42. The stock has a market cap of $858.83 billion, a PE ratio of 159.90, a price-to-earnings-growth ratio of 1.99 and a beta of 1.17. The company's 50 day moving average is $169.80 and its 200 day moving average is $156.94.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping analysts' consensus estimates of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company had revenue of $13.07 billion for the quarter, compared to analysts' expectations of $12.98 billion. During the same quarter last year, the company earned $0.95 earnings per share. The firm's revenue for the quarter was up 47.3% on a year-over-year basis. Equities analysts anticipate that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were issued a dividend of $0.53 per share. This is a positive change from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.15%. Broadcom's dividend payout ratio (DPR) is presently 184.35%.

Insider Transactions at Broadcom

In related news, insider Charlie B. Kawwas sold 15,950 shares of the firm's stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the transaction, the insider now owns 737,330 shares in the company, valued at $133,781,155.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Charlie B. Kawwas sold 15,950 shares of the stock in a transaction on Friday, October 11th. The shares were sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the completion of the sale, the insider now owns 737,330 shares in the company, valued at $133,781,155.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 18,900 shares of Broadcom stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the completion of the transaction, the insider now owns 380,560 shares in the company, valued at approximately $69,596,812.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 311,080 shares of company stock worth $53,540,590. Corporate insiders own 2.00% of the company's stock.

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.