KMG Fiduciary Partners LLC Buys 14,992 Shares of Broadcom Inc. (NASDAQ:AVGO)

KMG Fiduciary Partners LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 3,189.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,462 shares of the semiconductor manufacturer’s stock after purchasing an additional 14,992 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in Broadcom were worth $2,667,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AVGO. Legend Financial Advisors Inc. raised its position in Broadcom by 72.7% during the 1st quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 8 shares during the last quarter. Richardson Capital Management LLC bought a new position in shares of Broadcom during the first quarter worth about $29,000. Delta Asset Management LLC TN lifted its stake in shares of Broadcom by 242.9% in the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock worth $32,000 after acquiring an additional 17 shares during the period. Redmont Wealth Advisors LLC bought a new stake in Broadcom in the first quarter valued at approximately $36,000. Finally, St. Johns Investment Management Company LLC increased its position in Broadcom by 4,000.0% during the 1st quarter. St. Johns Investment Management Company LLC now owns 41 shares of the semiconductor manufacturer’s stock valued at $54,000 after purchasing an additional 40 shares during the period. Institutional investors own 76.43% of the company’s stock.

Insiders Place Their Bets

In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $181.44, for a total value of $2,893,968.00. Following the completion of the transaction, the insider now directly owns 737,330 shares in the company, valued at $133,781,155.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $181.44, for a total value of $2,893,968.00. Following the completion of the transaction, the insider now directly owns 737,330 shares in the company, valued at $133,781,155.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the sale, the chief executive officer now owns 1,331,910 shares in the company, valued at $217,594,136.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock worth $53,540,590 in the last three months. 2.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on AVGO. Morgan Stanley increased their price target on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Cantor Fitzgerald boosted their price target on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. UBS Group dropped their price objective on shares of Broadcom from $173.50 to $170.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. Mizuho boosted their target price on shares of Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Bank of America reaffirmed a “buy” rating and issued a $215.00 price target (up previously from $200.00) on shares of Broadcom in a research report on Monday, June 24th. Two investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and an average target price of $191.54.

Broadcom Trading Down 0.9 %

Shares of NASDAQ:AVGO opened at $179.89 on Friday. Broadcom Inc. has a 1 year low of $81.83 and a 1 year high of $186.42. The stock’s fifty day moving average price is $166.52 and its 200-day moving average price is $153.25. The company has a market cap of $837.37 billion, a P/E ratio of 7.74, a PEG ratio of 2.99 and a beta of 1.17. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94.

Broadcom (NASDAQ:AVGO) last issued 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 return on equity of 30.12% and a net margin of 10.88%. The business had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same quarter in the previous year, the firm earned $0.95 EPS. Broadcom’s revenue was up 47.3% on a year-over-year basis. Sell-side analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently disclosed 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 was Thursday, September 19th. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.18%. Broadcom’s payout ratio is 9.12%.

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.