KLCM Advisors Inc. Decreases Stake in Broadcom Inc. (NASDAQ:AVGO)

KLCM Advisors Inc. decreased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 46.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 4,700 shares of the semiconductor manufacturer’s stock after selling 4,040 shares during the period. KLCM Advisors Inc.’s holdings in Broadcom were worth $1,090,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AMF Tjanstepension AB boosted its position in shares of Broadcom by 856.9% in the third quarter. AMF Tjanstepension AB now owns 1,014,616 shares of the semiconductor manufacturer’s stock worth $175,101,000 after buying an additional 908,585 shares during the period. Alpha Financial Partners LLC acquired a new position in Broadcom during the 3rd quarter worth approximately $404,000. Wealth Group Ltd. boosted its holdings in Broadcom by 900.0% in the 3rd quarter. Wealth Group Ltd. now owns 1,760 shares of the semiconductor manufacturer’s stock worth $304,000 after acquiring an additional 1,584 shares during the period. Swedbank AB grew its position in Broadcom by 858.7% in the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock valued at $3,168,798,000 after acquiring an additional 16,453,718 shares in the last quarter. Finally, Howard Capital Management Group LLC raised its stake in shares of Broadcom by 2,219.8% during the third quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock valued at $524,000 after purchasing an additional 2,908 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Price Performance

Shares of AVGO opened at $228.73 on Thursday. The firm has a market capitalization of $1.07 trillion, a price-to-earnings ratio of 186.57, a price-to-earnings-growth ratio of 2.44 and a beta of 1.02. The stock’s fifty day moving average is $229.29 and its 200-day moving average is $189.00. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The company had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. Broadcom’s revenue was up 51.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.98 EPS. Equities analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a $0.59 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date was Monday, December 23rd. Broadcom’s payout ratio is presently 192.50%.

Analysts Set New Price Targets

A number of research firms have weighed in on AVGO. Benchmark reissued a “buy” rating and issued a $255.00 price objective (up from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Citigroup increased their price target on Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $240.00 target price on shares of Broadcom in a research report on Wednesday, December 11th. Evercore ISI raised their price target on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Mizuho upped their price target on shares of Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.04.

Insider Activity at Broadcom

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the sale, the director now directly owns 46,400 shares of the company’s stock, valued at $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Diane M. Bryant sold 15,000 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total value of $3,400,200.00. Following the completion of the transaction, the director now owns 6,460 shares of the company’s stock, valued at $1,464,352.80. This trade represents a 69.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock valued at $44,964,800 over the last ninety days. Insiders own 2.00% of the company’s stock.

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.