M. Kraus & Co Grows Holdings in Broadcom Inc. (NASDAQ:AVGO)

M. Kraus & Co grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 977.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,842 shares of the semiconductor manufacturer’s stock after buying an additional 21,630 shares during the quarter. Broadcom accounts for 1.7% of M. Kraus & Co’s investment portfolio, making the stock its 27th biggest position. M. Kraus & Co’s holdings in Broadcom were worth $5,528,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. Kiely Wealth Advisory Group Inc. purchased a new stake in Broadcom during the second quarter valued at about $128,000. Mark Sheptoff Financial Planning LLC bought a new position in shares of Broadcom during the 2nd quarter valued at about $136,000. RiverGlades Family Offices LLC purchased a new position in shares of Broadcom during the 2nd quarter valued at about $210,000. Disciplined Growth Investors Inc. MN bought a new stake in Broadcom in the 2nd quarter worth approximately $228,000. Finally, Security National Bank of Sioux City Iowa IA purchased a new stake in Broadcom in the second quarter worth approximately $234,000. 76.43% of the stock is owned by institutional investors.

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 20,168 shares of the firm’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the completion of the transaction, the insider now owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. This trade represents a 5.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the sale, the director now owns 46,400 shares in the company, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock worth $44,964,800 over the last ninety days. 2.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

AVGO has been the topic of several research reports. Evercore ISI lifted their price target on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Mizuho lifted their target price on shares of Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Piper Sandler boosted their price target on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Morgan Stanley raised their price objective on Broadcom from $233.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Finally, Cantor Fitzgerald boosted their target price on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $223.54.

Broadcom Stock Up 1.5 %

Shares of NASDAQ AVGO opened at $228.00 on Thursday. The firm has a fifty day simple moving average of $199.05 and a two-hundred day simple moving average of $176.63. Broadcom Inc. has a 12 month low of $109.02 and a 12 month high of $251.88. 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 firm has a market capitalization of $1.07 trillion, a PE ratio of 198.09, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter in the previous year, the company earned $0.98 earnings per share. Broadcom’s quarterly revenue was up 51.2% on a year-over-year basis. Equities analysts expect that Broadcom Inc. will post 3.79 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date was Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is presently 191.87%.

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.