M. Kraus & Co Acquires 1,935 Shares of Broadcom Inc. (NASDAQ:AVGO)

M. Kraus & Co boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 698.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,212 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,935 shares during the quarter. M. Kraus & Co’s holdings in Broadcom were worth $382,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. AXA S.A. lifted its position in Broadcom by 2.7% during the second quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer’s stock worth $467,334,000 after purchasing an additional 7,608 shares during the period. Renaissance Investment Group LLC raised its position in shares of Broadcom by 851.2% in the 3rd quarter. Renaissance Investment Group LLC now owns 120,969 shares of the semiconductor manufacturer’s stock valued at $20,867,000 after buying an additional 108,251 shares in the last quarter. MRA Advisory Group raised its position in shares of Broadcom by 954.1% in the 3rd quarter. MRA Advisory Group now owns 9,455 shares of the semiconductor manufacturer’s stock valued at $1,631,000 after buying an additional 8,558 shares in the last quarter. Ensign Peak Advisors Inc lifted its holdings in shares of Broadcom by 19.1% during the 2nd quarter. Ensign Peak Advisors Inc now owns 524,537 shares of the semiconductor manufacturer’s stock worth $842,160,000 after acquiring an additional 84,196 shares during the period. Finally, Red Spruce Capital LLC boosted its position in shares of Broadcom by 854.9% during the 3rd quarter. Red Spruce Capital LLC now owns 32,915 shares of the semiconductor manufacturer’s stock worth $5,678,000 after acquiring an additional 29,468 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Mark David Brazeal sold 20,280 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $177.10, for a total value of $3,591,588.00. Following the transaction, the insider now owns 399,460 shares of the company’s stock, valued at $70,744,366. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Mark David Brazeal sold 20,280 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the sale, the insider now owns 399,460 shares in the company, valued at approximately $70,744,366. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,331,910 shares in the company, valued at $217,594,136.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 295,130 shares of company stock valued at $50,646,622 in the last quarter. 2.00% of the stock is currently owned by insiders.

Broadcom Trading Up 0.5 %

NASDAQ:AVGO opened at $182.31 on Tuesday. Broadcom Inc. has a 12 month low of $81.83 and a 12 month high of $186.42. The stock has a market cap of $848.63 billion, a price-to-earnings ratio of 7.84, a P/E/G ratio of 2.99 and a beta of 1.17. The company has a 50-day moving average price of $163.72 and a 200-day moving average price of $151.97. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share 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 business had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter last year, the firm earned $0.95 earnings per share. The business’s revenue for the quarter was up 47.3% on a year-over-year basis. Equities analysts predict that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were paid a dividend of $0.53 per share. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a yield of 1.16%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is currently 9.12%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on AVGO shares. UBS Group cut their target price on Broadcom from $173.50 to $170.00 and set a “buy” rating for the company in a research note on Monday, September 9th. Bank of America reaffirmed a “buy” rating and issued a $215.00 price objective (up from $200.00) on shares of Broadcom in a research note on Monday, June 24th. William Blair started coverage on Broadcom in a research note on Wednesday, September 18th. They set an “outperform” rating for the company. The Goldman Sachs Group increased their target price on shares of Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Finally, Benchmark reaffirmed a “buy” rating and set a $210.00 price target on shares of Broadcom in a report on Friday, September 6th. Two research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $191.54.

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.