Broadcom Inc. (NASDAQ:AVGO) Shares Bought by KBC Group NV

KBC Group NV grew its stake in Broadcom Inc. (NASDAQ:AVGO) by 581.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,574,900 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,197,129 shares during the quarter. Broadcom makes up 1.3% of KBC Group NV’s holdings, making the stock its 11th biggest position. KBC Group NV owned about 0.06% of Broadcom worth $444,171,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Hillsdale Investment Management Inc. raised its stake in Broadcom by 35.5% in the 1st quarter. Hillsdale Investment Management Inc. now owns 420 shares of the semiconductor manufacturer’s stock valued at $557,000 after purchasing an additional 110 shares during the last quarter. Alley Investment Management Company LLC acquired a new stake in shares of Broadcom in the first quarter valued at about $272,000. Resurgent Financial Advisors LLC raised its position in shares of Broadcom by 14.2% in the first quarter. Resurgent Financial Advisors LLC now owns 514 shares of the semiconductor manufacturer’s stock valued at $681,000 after buying an additional 64 shares during the last quarter. Trustmark National Bank Trust Department lifted its stake in shares of Broadcom by 3.4% in the first quarter. Trustmark National Bank Trust Department now owns 3,188 shares of the semiconductor manufacturer’s stock worth $4,225,000 after buying an additional 104 shares in the last quarter. Finally, PAX Financial Group LLC boosted its position in Broadcom by 16.8% during the first quarter. PAX Financial Group LLC now owns 230 shares of the semiconductor manufacturer’s stock worth $305,000 after acquiring an additional 33 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Activity at Broadcom

In related news, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. This represents a 3.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mark David Brazeal sold 18,900 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the sale, the insider now directly owns 380,560 shares in the company, valued at approximately $69,596,812.80. The trade was a 4.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock valued at $53,540,590 over the last quarter. 2.00% of the stock is owned by insiders.

Broadcom Stock Down 3.3 %

Shares of NASDAQ AVGO opened at $164.84 on Friday. Broadcom Inc. has a 12-month low of $90.31 and a 12-month high of $186.42. The stock has a market cap of $769.90 billion, a P/E ratio of 143.34, a PEG ratio of 2.04 and a beta of 1.17. 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 business’s fifty day simple moving average is $172.84 and its 200-day simple moving average is $159.35.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping 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 firm had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same period in the prior year, the firm earned $0.95 earnings per share. The business’s quarterly revenue was up 47.3% compared to the same quarter last year. As a group, equities analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.29%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is presently 184.35%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Rosenblatt Securities decreased their target price on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday, September 6th. JPMorgan Chase & Co. boosted their price objective on Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. UBS Group raised their target price on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. StockNews.com cut shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Finally, Benchmark restated a “buy” rating and set a $210.00 price objective on shares of Broadcom in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.79.

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.