CKW Financial Group Purchases 272 Shares of Broadcom Inc. (NASDAQ:AVGO)

CKW Financial Group increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 971.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 300 shares of the semiconductor manufacturer’s stock after buying an additional 272 shares during the quarter. CKW Financial Group’s holdings in Broadcom were worth $50,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of AVGO. Jacobs Levy Equity Management Inc. boosted its holdings in Broadcom by 166.2% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 2,316 shares of the semiconductor manufacturer’s stock valued at $3,070,000 after purchasing an additional 1,446 shares during the period. FSA Advisors Inc. bought a new stake in Broadcom in the 1st quarter valued at $264,000. Cetera Investment Advisers boosted its holdings in Broadcom by 258.7% in the 1st quarter. Cetera Investment Advisers now owns 102,941 shares of the semiconductor manufacturer’s stock valued at $136,438,000 after purchasing an additional 74,244 shares during the period. Cetera Advisors LLC boosted its holdings in Broadcom by 95.3% in the 1st quarter. Cetera Advisors LLC now owns 27,454 shares of the semiconductor manufacturer’s stock valued at $36,387,000 after purchasing an additional 13,398 shares during the period. Finally, Cetera Advisor Networks LLC boosted its holdings in Broadcom by 33.9% in the 1st quarter. Cetera Advisor Networks LLC now owns 57,900 shares of the semiconductor manufacturer’s stock valued at $76,742,000 after purchasing an additional 14,664 shares during the period. 76.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. The Goldman Sachs Group increased their price objective on shares of Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Benchmark restated a “buy” rating and issued a $210.00 price objective on shares of Broadcom in a research note on Friday, September 6th. UBS Group increased their price objective on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, Rosenblatt Securities dropped their price objective on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, September 6th. Two analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $195.96.

Broadcom Trading Down 3.1 %

Shares of NASDAQ AVGO opened at $159.67 on Thursday. Broadcom Inc. has a 1-year low of $90.31 and a 1-year high of $186.42. The company has a market cap of $745.75 billion, a PE ratio of 138.72, a P/E/G ratio of 1.94 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 company has a 50-day moving average of $173.72 and a two-hundred day moving average of $161.28.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $12.98 billion. During the same quarter in the previous year, the company earned $0.95 EPS. Broadcom’s revenue was up 47.3% on a year-over-year basis. As a group, equities analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were given a dividend of $0.53 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.33%. Broadcom’s payout ratio is currently 184.19%.

Insider Transactions at Broadcom

In related news, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. The trade was a 3.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 25,200 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the transaction, the insider now owns 753,280 shares of the company’s stock, valued at approximately $126,754,425.60. This represents a 3.24 % 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 quarter. 2.00% of the stock is owned by company insiders.

About Broadcom

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.