Beck Capital Management LLC Purchases 72 Shares of Broadcom Inc. (NASDAQ:AVGO)

Beck Capital Management LLC raised its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,340 shares of the semiconductor manufacturer’s stock after acquiring an additional 72 shares during the quarter. Broadcom comprises 1.9% of Beck Capital Management LLC’s investment portfolio, making the stock its 13th biggest holding. Beck Capital Management LLC’s holdings in Broadcom were worth $6,968,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Gilbert & Cook Inc. boosted its stake in Broadcom by 4.9% during the fourth quarter. Gilbert & Cook Inc. now owns 837 shares of the semiconductor manufacturer’s stock worth $934,000 after acquiring an additional 39 shares in the last quarter. Aveo Capital Partners LLC boosted its position in shares of Broadcom by 15.9% during the 4th quarter. Aveo Capital Partners LLC now owns 459 shares of the semiconductor manufacturer’s stock worth $512,000 after purchasing an additional 63 shares in the last quarter. 9258 Wealth Management LLC boosted its position in shares of Broadcom by 1.5% during the 4th quarter. 9258 Wealth Management LLC now owns 3,884 shares of the semiconductor manufacturer’s stock worth $4,336,000 after purchasing an additional 58 shares in the last quarter. Gryphon Financial Partners LLC grew its stake 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 buying an additional 801 shares during the period. Finally, Sepio Capital LP bought a new stake in Broadcom in the 4th quarter valued at about $482,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $171.10 on Monday. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The stock has a fifty day simple moving average of $156.81 and a two-hundred day simple moving average of $146.91. Broadcom Inc. has a 1-year low of $79.51 and a 1-year high of $185.16. The firm has a market cap of $796.45 billion, a price-to-earnings ratio of 7.36, a price-to-earnings-growth ratio of 2.55 and a beta of 1.16.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company 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 company earned $0.95 EPS. The firm’s quarterly revenue was up 47.3% compared to the same quarter last year. Analysts anticipate that Broadcom Inc. will post 3.77 earnings per share for the current year.

Broadcom Increases Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AVGO. Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 price target on shares of Broadcom in a report on Friday, September 6th. The Goldman Sachs Group increased their target price on Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Citigroup restated a “buy” rating and set a $156.00 price target on shares of Broadcom in a research note on Tuesday, June 11th. Bank of America reaffirmed a “buy” rating and issued a $215.00 price objective (up from $200.00) on shares of Broadcom in a research note on Monday, June 24th. Finally, Truist Financial boosted their target price on shares of Broadcom from $156.60 to $204.50 and gave the stock a “buy” rating in a research report on Thursday, June 13th. Two 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $189.23.

Insider Transactions at Broadcom

In related news, CEO Hock E. Tan sold 7,502 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The shares were 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 approximately $235,746,936.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Broadcom news, CEO Hock E. Tan sold 7,502 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were 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 owns 138,191 shares of the company’s stock, valued at approximately $235,746,936.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value 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 disclosure for this sale can be found here. Corporate 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.