MKT Advisors LLC Has $922,000 Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

MKT Advisors LLC increased its position in Broadcom Inc. (NASDAQ:AVGO) by 911.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,403 shares of the semiconductor manufacturer’s stock after purchasing an additional 4,869 shares during the quarter. MKT Advisors LLC’s holdings in Broadcom were worth $922,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AVGO. Vanguard Group Inc. boosted its holdings in Broadcom by 3.0% during the first quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock worth $59,181,244,000 after buying an additional 1,303,462 shares during the last quarter. Jennison Associates LLC boosted its stake in Broadcom by 43.9% during the 1st quarter. Jennison Associates LLC now owns 4,141,025 shares of the semiconductor manufacturer’s stock worth $5,488,556,000 after acquiring an additional 1,263,957 shares during the last quarter. Legal & General Group Plc boosted its stake in Broadcom by 2.2% during the 2nd quarter. Legal & General Group Plc now owns 3,963,063 shares of the semiconductor manufacturer’s stock worth $6,362,816,000 after acquiring an additional 83,846 shares during the last quarter. GQG Partners LLC grew its holdings in Broadcom by 48.9% during the first quarter. GQG Partners LLC now owns 2,992,833 shares of the semiconductor manufacturer’s stock valued at $3,966,730,000 after purchasing an additional 983,328 shares during the period. Finally, Handelsbanken Fonder AB raised its holdings in Broadcom by 826.3% in the third quarter. Handelsbanken Fonder AB now owns 2,963,813 shares of the semiconductor manufacturer’s stock worth $511,258,000 after purchasing an additional 2,643,845 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AVGO. Oppenheimer decreased their price target on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, July 16th. Jefferies Financial Group increased their price target on Broadcom from $155.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, June 13th. Wells Fargo & Company lifted their price objective on Broadcom from $143.00 to $170.00 and gave the company an “equal weight” rating in a report on Thursday, June 13th. TD Cowen raised Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Two analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $189.23.

Insider Transactions at Broadcom

In related news, CEO Hock E. Tan sold 10,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $167.14, for a total transaction of $1,671,400.00. Following the completion of the sale, the chief executive officer now owns 1,171,910 shares of the company’s stock, valued at $195,873,037.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $168.27, for a total value of $4,240,404.00. Following the completion of the transaction, the insider now directly owns 753,280 shares in the company, valued at approximately $126,754,425.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Hock E. Tan sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $167.14, for a total transaction of $1,671,400.00. Following the completion of the transaction, the chief executive officer now owns 1,171,910 shares of the company’s stock, valued at approximately $195,873,037.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 243,452 shares of company stock valued at $52,950,238. 2.00% of the stock is owned by corporate insiders.

Broadcom Stock Performance

Shares of NASDAQ:AVGO traded up $0.48 during trading on Monday, reaching $177.12. 6,215,435 shares of the stock were exchanged, compared to its average volume of 31,067,781. The firm has a market cap of $824.47 billion, a PE ratio of 7.63, a PEG ratio of 2.78 and a beta of 1.17. The stock has a 50-day moving average price of $159.64 and a 200-day moving average price of $149.81. 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 Inc. has a 12 month low of $81.83 and a 12 month high of $185.16.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS 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 for the quarter, compared to analyst estimates of $12.98 billion. During the same period last year, the firm earned $0.95 earnings per share. Broadcom’s revenue for the quarter was up 47.3% compared to the same quarter last year. Research analysts expect that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.20%. 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 presently 9.12%.

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.