Kathmere Capital Management LLC Raises Holdings in Broadcom Inc. (NASDAQ:AVGO)

Kathmere Capital Management LLC lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 11.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 672 shares of the semiconductor manufacturer’s stock after buying an additional 68 shares during the quarter. Kathmere Capital Management LLC’s holdings in Broadcom were worth $1,079,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in AVGO. Gilbert & Cook Inc. boosted its stake in shares of Broadcom by 4.9% during the fourth quarter. Gilbert & Cook Inc. now owns 837 shares of the semiconductor manufacturer’s stock valued at $934,000 after purchasing an additional 39 shares in the last quarter. Aveo Capital Partners LLC lifted its holdings in Broadcom by 15.9% during the fourth quarter. Aveo Capital Partners LLC now owns 459 shares of the semiconductor manufacturer’s stock worth $512,000 after buying an additional 63 shares during the period. 9258 Wealth Management LLC boosted its position in Broadcom by 1.5% during the 4th quarter. 9258 Wealth Management LLC now owns 3,884 shares of the semiconductor manufacturer’s stock valued at $4,336,000 after acquiring an additional 58 shares in the last quarter. Gryphon Financial Partners LLC increased its holdings in shares of Broadcom by 99.5% in the 4th quarter. Gryphon Financial Partners LLC now owns 1,606 shares of the semiconductor manufacturer’s stock valued at $1,731,000 after acquiring an additional 801 shares during the period. Finally, J. W. Coons Advisors LLC raised its position in shares of Broadcom by 5.1% in the 4th quarter. J. W. Coons Advisors LLC now owns 1,410 shares of the semiconductor manufacturer’s stock worth $1,574,000 after acquiring an additional 69 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Trading Down 3.0 %

Shares of NASDAQ:AVGO opened at $172.69 on Friday. The company has a market capitalization of $803.85 billion, a PE ratio of 7.43, a PEG ratio of 2.78 and a beta of 1.16. Broadcom Inc. has a 12-month low of $80.89 and a 12-month high of $185.16. The business has a 50 day moving average of $158.00 and a two-hundred day moving average of $148.25. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data 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 business had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter in the prior year, the firm posted $0.95 earnings per share. The company’s revenue was up 47.3% compared to the same quarter last year. As a group, analysts forecast that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 19th will be paid a $0.53 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.23%. The ex-dividend date is Thursday, September 19th. Broadcom’s dividend payout ratio is currently 9.12%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Bank of America reiterated a “buy” rating and issued a $215.00 target price (up previously from $200.00) on shares of Broadcom in a research note on Monday, June 24th. Oppenheimer reduced their price objective on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a research note on Tuesday, July 16th. Melius Research initiated coverage on shares of Broadcom in a research report on Monday, June 3rd. They set a “buy” rating and a $185.00 target price for the company. Evercore ISI upped their price target on Broadcom from $162.00 to $201.00 and gave the stock an “outperform” rating in a research report on Thursday, June 13th. Finally, The Goldman Sachs Group upped their target price on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating 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 stock currently has an average rating of “Moderate Buy” and an average target price of $189.23.

Insider Buying and Selling at Broadcom

In other news, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was 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 $126,754,425.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Hock E. Tan sold 50,000 shares of the company’s 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 completion of the sale, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 233,452 shares of company stock worth $51,278,838. Corporate insiders own 2.00% of the company’s stock.

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.