Keel Point LLC Has $874,000 Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Keel Point LLC grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 15.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,007 shares of the semiconductor manufacturer’s stock after buying an additional 133 shares during the quarter. Keel Point LLC’s holdings in Broadcom were worth $874,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MRP Capital Investments LLC grew its holdings in shares of Broadcom by 60.0% in the first quarter. MRP Capital Investments LLC now owns 56 shares of the semiconductor manufacturer’s stock valued at $36,000 after acquiring an additional 21 shares in the last quarter. VitalStone Financial LLC increased its holdings in Broadcom by 71.4% during the first quarter. VitalStone Financial LLC now owns 60 shares of the semiconductor manufacturer’s stock worth $40,000 after buying an additional 25 shares during the last quarter. Sageworth Trust Co bought a new stake in Broadcom in the first quarter worth about $39,000. Tucker Asset Management LLC purchased a new position in Broadcom in the first quarter valued at about $43,000. Finally, Grey Fox Wealth Advisors LLC bought a new position in shares of Broadcom during the 4th quarter valued at approximately $39,000. Institutional investors and hedge funds own 78.81% of the company’s stock.

Insider Buying and Selling at Broadcom

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

Analysts Set New Price Targets

AVGO has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft raised their target price on Broadcom from $905.00 to $950.00 in a research report on Friday, September 1st. TD Cowen increased their target price on Broadcom from $800.00 to $900.00 and gave the stock a “market perform” rating in a research report on Friday, September 1st. Truist Financial upped their price target on Broadcom from $942.00 to $995.00 and gave the company a “buy” rating in a research report on Friday, September 8th. StockNews.com upgraded Broadcom from a “hold” rating to a “buy” rating in a research report on Wednesday, August 16th. Finally, Susquehanna reaffirmed a “positive” rating and issued a $1,010.00 price target on shares of Broadcom in a report on Monday. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and a consensus price target of $846.14.

Broadcom Trading Down 0.6 %

AVGO traded down $5.22 during midday trading on Tuesday, reaching $844.78. 369,616 shares of the company’s stock traded hands, compared to its average volume of 2,494,290. The stock has a market capitalization of $348.67 billion, a price-to-earnings ratio of 26.14, a P/E/G ratio of 1.78 and a beta of 1.10. Broadcom Inc. has a 52 week low of $415.07 and a 52 week high of $923.67. The firm has a fifty day moving average of $875.05 and a two-hundred day moving average of $763.54. The company has a debt-to-equity ratio of 1.73, a current ratio of 2.50 and a quick ratio of 2.25.

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

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, September 21st will be issued a $4.60 dividend. The ex-dividend date is Wednesday, September 20th. This represents a $18.40 annualized dividend and a yield of 2.18%. Broadcom’s dividend payout ratio (DPR) is presently 56.58%.

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.