KLCM Advisors Inc. decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 46.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,700 shares of the semiconductor manufacturer's stock after selling 4,040 shares during the quarter. KLCM Advisors Inc.'s holdings in Broadcom were worth $1,090,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of AVGO. AMF Tjanstepension AB lifted its holdings in shares of Broadcom by 856.9% in the 3rd quarter. AMF Tjanstepension AB now owns 1,014,616 shares of the semiconductor manufacturer's stock valued at $175,101,000 after buying an additional 908,585 shares during the period. Alpha Financial Partners LLC acquired a new position in Broadcom in the third quarter valued at approximately $404,000. Wealth Group Ltd. lifted its holdings in Broadcom by 900.0% in the third quarter. Wealth Group Ltd. now owns 1,760 shares of the semiconductor manufacturer's stock valued at $304,000 after acquiring an additional 1,584 shares during the period. Swedbank AB boosted its position in Broadcom by 858.7% in the 3rd quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer's stock worth $3,168,798,000 after purchasing an additional 16,453,718 shares in the last quarter. Finally, Howard Capital Management Group LLC grew its stake in shares of 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 purchasing an additional 2,908 shares during the period. Hedge funds and other institutional investors own 76.43% of the company's stock.
Insider Transactions at Broadcom
In other Broadcom news, insider Charlie B. Kawwas sold 40,000 shares of the firm's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the sale, the insider now owns 696,730 shares of the company's stock, valued at $161,627,425.40. This trade represents a 5.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark David Brazeal sold 20,168 shares of the company's stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the completion of the transaction, the insider now directly owns 321,660 shares in the company, valued at approximately $76,809,191.40. This trade represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock worth $44,964,800 in the last 90 days. Insiders own 2.00% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on the stock. Rosenblatt Securities reissued a "buy" rating and set a $240.00 price target on shares of Broadcom in a report on Wednesday, December 11th. Bank of America upped their price objective on shares of Broadcom from $215.00 to $250.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Benchmark restated a "buy" rating and set a $255.00 target price (up from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Mizuho upped their price target on Broadcom from $245.00 to $260.00 and gave the stock an "outperform" rating in a report on Friday, January 10th. Finally, Robert W. Baird raised their price objective on Broadcom from $195.00 to $210.00 and gave the company an "outperform" rating in a report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $225.04.
Check Out Our Latest Stock Report on Broadcom
Broadcom Trading Down 3.9 %
Broadcom stock traded down $8.84 during trading on Friday, reaching $217.90. 12,635,342 shares of the company were exchanged, compared to its average volume of 27,238,252. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The stock's 50 day simple moving average is $230.21 and its two-hundred day simple moving average is $189.26. The company has a market capitalization of $1.02 trillion, a P/E ratio of 177.78, a PEG ratio of 2.39 and a beta of 1.02. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88.
Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the previous year, the firm earned $0.98 EPS. The company's quarterly revenue was up 51.2% compared to the same quarter last year. On average, equities research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.
Broadcom Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a $0.59 dividend. This is a boost from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a dividend yield of 1.08%. Broadcom's dividend payout ratio is 191.87%.
Broadcom Company Profile
(
Free Report)
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.
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