Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Keel Point LLC

Keel Point LLC increased its stake in Broadcom Inc. (NASDAQ:AVGO) by 15.2% during the 2nd quarter, Holdings Channel.com reports. The fund owned 1,007 shares of the semiconductor manufacturer’s stock after buying an additional 133 shares during the period. Keel Point LLC’s holdings in Broadcom were worth $874,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. MRP Capital Investments LLC increased its holdings in Broadcom by 60.0% in the 1st quarter. MRP Capital Investments LLC now owns 56 shares of the semiconductor manufacturer’s stock valued at $36,000 after purchasing an additional 21 shares in the last quarter. Grey Fox Wealth Advisors LLC purchased a new stake in shares of Broadcom in the fourth quarter worth about $39,000. Sageworth Trust Co acquired a new stake in shares of Broadcom in the first quarter valued at about $39,000. VitalStone Financial LLC grew its stake in shares of Broadcom by 71.4% in the first quarter. VitalStone Financial LLC now owns 60 shares of the semiconductor manufacturer’s stock valued at $40,000 after buying an additional 25 shares in the last quarter. Finally, Osterweis Capital Management Inc. lifted its position in Broadcom by 400.0% during the 4th quarter. Osterweis Capital Management Inc. now owns 75 shares of the semiconductor manufacturer’s stock worth $42,000 after acquiring an additional 60 shares in the last quarter. 78.81% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Trading Down 0.6 %

Broadcom stock traded down $5.22 during mid-day trading on Tuesday, hitting $844.78. The stock had a trading volume of 369,616 shares, compared to its average volume of 2,494,290. The stock has a 50-day simple moving average of $875.05 and a two-hundred day simple moving average of $763.54. The stock has a market capitalization of $348.67 billion, a PE ratio of 26.14, a P/E/G ratio of 1.78 and a beta of 1.10. Broadcom Inc. has a 12 month low of $415.07 and a 12 month high of $923.67. The company has a current ratio of 2.50, a quick ratio of 2.25 and a debt-to-equity ratio of 1.73.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, August 31st. The semiconductor manufacturer reported $10.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.43 by $0.11. The company had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.85 billion. Broadcom had a net margin of 39.25% and a return on equity of 74.31%. The firm’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $9.07 EPS. As a group, sell-side analysts forecast that Broadcom Inc. will post 37.88 EPS for the current year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, September 21st will be paid a dividend of $4.60 per share. This represents a $18.40 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Wednesday, September 20th. Broadcom’s dividend payout ratio is currently 56.58%.

Insider Activity

In other Broadcom news, Director Eddy W. Hartenstein sold 1,500 shares of Broadcom stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $855.68, for a total transaction of $1,283,520.00. Following the completion of the transaction, the director now directly owns 9,123 shares of the company’s stock, valued at $7,806,368.64. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Broadcom news, Director Eddy W. Hartenstein sold 1,500 shares of Broadcom stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $855.68, for a total value of $1,283,520.00. Following the completion of the sale, the director now owns 9,123 shares in the company, valued at approximately $7,806,368.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Check Kian Low purchased 11,000 shares of Broadcom stock in a transaction that occurred on Wednesday, September 6th. The shares were bought at an average cost of $872.03 per share, for a total transaction of $9,592,330.00. Following the transaction, the director now directly owns 15,951 shares of the company’s stock, valued at $13,909,750.53. The disclosure for this purchase can be found here. Insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Piper Sandler upped their target price on shares of Broadcom from $830.00 to $925.00 and gave the company an “overweight” rating in a research note on Tuesday, August 29th. Wells Fargo & Company raised their price objective on Broadcom from $800.00 to $900.00 and gave the company an “equal weight” rating in a research note on Friday, September 1st. Rosenblatt Securities upped their target price on Broadcom from $900.00 to $1,000.00 in a research report on Friday, September 1st. Truist Financial raised their price target on shares of Broadcom from $942.00 to $995.00 and gave the stock a “buy” rating in a research report on Friday, September 8th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Broadcom from $905.00 to $950.00 in a report on Friday, September 1st. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and a consensus target price of $846.14.

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.