Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by United Capital Management of KS Inc.

United Capital Management of KS Inc. boosted its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 887.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,548 shares of the semiconductor manufacturer's stock after acquiring an additional 28,354 shares during the quarter. United Capital Management of KS Inc.'s holdings in Broadcom were worth $5,442,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in AVGO. Forge First Asset Management Inc. purchased a new stake in shares of Broadcom during the 1st quarter worth approximately $8,808,000. M&G Plc purchased a new stake in shares of Broadcom in the 1st quarter valued at about $588,782,000. First Foundation Advisors boosted its position in shares of Broadcom by 1.1% in the 1st quarter. First Foundation Advisors now owns 6,873 shares of the semiconductor manufacturer's stock valued at $9,109,000 after purchasing an additional 78 shares during the period. Jupiter Asset Management Ltd. grew its stake in Broadcom by 34.9% during the 1st quarter. Jupiter Asset Management Ltd. now owns 10,129 shares of the semiconductor manufacturer's stock worth $13,425,000 after buying an additional 2,622 shares during the last quarter. Finally, Nicolet Advisory Services LLC increased its position in Broadcom by 42.7% during the first quarter. Nicolet Advisory Services LLC now owns 692 shares of the semiconductor manufacturer's stock worth $923,000 after buying an additional 207 shares during the period. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Transactions at Broadcom

In other 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 value of $2,893,968.00. Following the completion of the sale, the insider now owns 737,330 shares of the company's stock, valued at $133,781,155.20. This represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Hock E. Tan sold 150,000 shares of Broadcom stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the transaction, the chief executive officer now owns 1,181,910 shares in the company, valued at $204,399,515.40. The trade was a 11.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock worth $53,540,590 in the last ninety days. Insiders own 2.00% of the company's stock.

Broadcom Trading Down 3.4 %

Shares of Broadcom stock traded down $5.84 during trading hours on Friday, reaching $164.54. 12,273,836 shares of the company's stock were exchanged, compared to its average volume of 29,487,471. Broadcom Inc. has a 52-week low of $90.31 and a 52-week high of $186.42. The company has a fifty day moving average of $172.29 and a 200-day moving average of $159.14. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $768.50 billion, a price-to-earnings ratio of 144.87, a price-to-earnings-growth ratio of 2.04 and a beta of 1.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter in the prior year, the company posted $0.95 EPS. The company's quarterly revenue was up 47.3% compared to the same quarter last year. Sell-side analysts forecast that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a dividend of $0.53 per share. The ex-dividend date was Thursday, September 19th. This is a boost from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.29%. Broadcom's payout ratio is currently 184.35%.

Analyst Ratings Changes

AVGO has been the subject of several research reports. The Goldman Sachs Group upped their price target on shares of Broadcom from $185.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, September 6th. UBS Group increased their target price on shares of Broadcom from $170.00 to $200.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. TD Cowen raised Broadcom to a "strong-buy" rating in a report on Monday, September 16th. Cantor Fitzgerald upped their price objective on Broadcom from $200.00 to $225.00 and gave the company an "overweight" rating in a research note on Tuesday, October 8th. Finally, Morgan Stanley boosted their target price on Broadcom from $176.00 to $180.00 and gave the company an "overweight" rating in a report on Friday, September 6th. Two research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $192.79.

Broadcom 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.