Kowal Investment Group LLC Boosts Holdings in Broadcom Inc. (NASDAQ:AVGO)

Kowal Investment Group LLC boosted its stake in Broadcom Inc. (NASDAQ:AVGO) by 16.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 989 shares of the semiconductor manufacturer’s stock after acquiring an additional 139 shares during the period. Kowal Investment Group LLC’s holdings in Broadcom were worth $1,588,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Merriman Wealth Management LLC boosted its holdings in shares of Broadcom by 27.0% in the second quarter. Merriman Wealth Management LLC now owns 442 shares of the semiconductor manufacturer’s stock valued at $710,000 after acquiring an additional 94 shares during the period. Symmetry Investments LP purchased a new stake in Broadcom in the 2nd quarter valued at $2,569,000. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Broadcom by 2,948.9% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 14,452 shares of the semiconductor manufacturer’s stock worth $23,204,000 after purchasing an additional 13,978 shares during the period. Ensign Peak Advisors Inc grew its position in Broadcom by 19.1% during the 2nd quarter. Ensign Peak Advisors Inc now owns 524,537 shares of the semiconductor manufacturer’s stock worth $842,160,000 after purchasing an additional 84,196 shares during the last quarter. Finally, RiverGlades Family Offices LLC acquired a new position in Broadcom in the second quarter valued at $210,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the 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 owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Hock E. Tan sold 7,502 shares of the firm’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the sale, the chief executive officer now directly owns 138,191 shares in the company, valued at $235,746,936.45. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Benchmark reissued a “buy” rating and set a $210.00 price target on shares of Broadcom in a report on Friday, September 6th. Melius Research assumed coverage on Broadcom in a research note on Monday, June 3rd. They issued a “buy” rating and a $185.00 target price on the stock. Sanford C. Bernstein upped their price target on Broadcom from $160.00 to $195.00 and gave the stock an “outperform” rating in a research note on Thursday, June 13th. TD Cowen upgraded shares of Broadcom to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Wells Fargo & Company boosted their price objective on shares of Broadcom from $143.00 to $170.00 and gave the company an “equal weight” rating in a research note on Thursday, June 13th. Two investment 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 stock. Based on data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and an average target price of $189.23.

Broadcom Stock Up 2.2 %

AVGO opened at $171.10 on Friday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The company has a market cap of $796.45 billion, a price-to-earnings ratio of 7.36, a PEG ratio of 2.55 and a beta of 1.16. Broadcom Inc. has a one year low of $79.51 and a one year high of $185.16. The business’s fifty day moving average is $156.81 and its two-hundred day moving average is $146.91.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $12.98 billion. During the same period in the previous year, the firm earned $0.95 EPS. The business’s revenue for the quarter was up 47.3% compared to the same quarter last year. Analysts anticipate that Broadcom Inc. will post 3.77 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 19th will be given a $0.53 dividend. The ex-dividend date of this dividend is Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.24%. Broadcom’s dividend payout ratio is currently 9.12%.

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.