Koss Olinger Consulting LLC Increases Position in Broadcom Inc. (NASDAQ:AVGO)

Koss Olinger Consulting LLC raised its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 933.6% during the third quarter, HoldingsChannel reports. The firm owned 10,749 shares of the semiconductor manufacturer’s stock after purchasing an additional 9,709 shares during the period. Koss Olinger Consulting LLC’s holdings in Broadcom were worth $1,854,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Sound Income Strategies LLC grew its holdings in shares of Broadcom by 193.8% during the 1st quarter. Sound Income Strategies LLC now owns 141 shares of the semiconductor manufacturer’s stock valued at $186,000 after purchasing an additional 93 shares during the last quarter. Sunbelt Securities Inc. increased its holdings in shares of Broadcom by 43.4% in the first quarter. Sunbelt Securities Inc. now owns 6,929 shares of the semiconductor manufacturer’s stock worth $9,184,000 after buying an additional 2,098 shares during the period. RMR Wealth Builders lifted its stake in shares of Broadcom by 7.8% in the 1st quarter. RMR Wealth Builders now owns 7,064 shares of the semiconductor manufacturer’s stock valued at $9,400,000 after acquiring an additional 514 shares during the last quarter. Brookstone Capital Management boosted its holdings in Broadcom by 7.6% during the 1st quarter. Brookstone Capital Management now owns 2,981 shares of the semiconductor manufacturer’s stock valued at $3,952,000 after acquiring an additional 211 shares during the period. Finally, Future Financial Wealth Managment LLC bought a new position in Broadcom during the 1st quarter worth approximately $206,000. Institutional investors own 76.43% of the company’s stock.

Insider Activity

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Broadcom news, insider Mark David Brazeal sold 20,280 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $177.10, for a total value of $3,591,588.00. Following the transaction, the insider now directly owns 399,460 shares of the company’s stock, valued at approximately $70,744,366. This trade 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. Also, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, 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 have sold a total of 311,080 shares of company stock valued at $53,540,590 over the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on AVGO shares. UBS Group cut their target price on shares of Broadcom from $173.50 to $170.00 and set a “buy” rating on the stock in a report on Monday, September 9th. TD Cowen raised shares of Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. Benchmark reissued a “buy” rating and issued a $210.00 target price on shares of Broadcom in a research note on Friday, September 6th. Rosenblatt Securities lowered their price target on Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a research report on Friday, September 6th. 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. Two equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and a consensus target price of $191.54.

Broadcom Stock Down 0.3 %

AVGO stock opened at $179.38 on Wednesday. The firm has a market cap of $834.99 billion, a PE ratio of 7.72, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17. The business has a 50 day moving average of $167.61 and a 200 day moving average of $153.88. Broadcom Inc. has a twelve month low of $81.83 and a twelve month high of $186.42. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.04. The firm had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business’s revenue was up 47.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.95 earnings per share. On average, research analysts forecast that Broadcom Inc. will post 3.78 EPS 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 paid a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.18%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is currently 9.12%.

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.