KG&L Capital Management LLC Buys 10,556 Shares of Broadcom Inc. (NASDAQ:AVGO)

KG&L Capital Management LLC raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 1,074.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,538 shares of the semiconductor manufacturer’s stock after acquiring an additional 10,556 shares during the quarter. KG&L Capital Management LLC’s holdings in Broadcom were worth $1,990,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Castleview Partners LLC raised its position in Broadcom by 1,030.8% in the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 134 shares during the last quarter. Delta Asset Management LLC TN grew its holdings in Broadcom by 242.9% during the 1st 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 last quarter. Tsfg LLC increased its position in Broadcom by 1,073.7% in the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after acquiring an additional 204 shares in the last quarter. Krane Funds Advisors LLC acquired a new position in shares of Broadcom during the third quarter worth approximately $42,000. Finally, Highline Wealth Partners LLC acquired a new stake in shares of Broadcom in the third quarter valued at approximately $45,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AVGO. Cantor Fitzgerald increased their price objective on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. UBS Group upped their target price on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday. JPMorgan Chase & Co. lifted their price target on shares of Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. StockNews.com lowered shares of Broadcom from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Finally, Truist Financial raised their price objective on shares of Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Two investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and an average price target of $192.79.

Insider Activity

In related news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Gayla J. Delly sold 750 shares of the firm’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total value of $130,897.50. Following the completion of the transaction, the director now directly owns 34,750 shares of the company’s stock, valued at approximately $6,064,917.50. 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 can be accessed through the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction on 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 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 311,080 shares of company stock worth $53,540,590 in the last quarter. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Up 3.2 %

NASDAQ:AVGO opened at $179.55 on Thursday. The company has a market cap of $838.60 billion, a PE ratio of 156.13, a PEG ratio of 1.99 and a beta of 1.17. The stock has a 50-day simple moving average of $169.80 and a 200 day simple moving average of $156.94. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. Broadcom Inc. has a 52-week low of $87.62 and a 52-week high of $186.42.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.04. The company had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business’s quarterly revenue was up 47.3% on a year-over-year basis. During the same period last year, the business earned $0.95 EPS. On average, sell-side analysts expect that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.18%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. Broadcom’s dividend payout ratio is currently 184.35%.

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.