Kozak & Associates Inc. Purchases 3,288 Shares of Broadcom Inc. (NASDAQ:AVGO)

Kozak & Associates Inc. increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 905.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,651 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,288 shares during the period. Kozak & Associates Inc.’s holdings in Broadcom were worth $646,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. AXA S.A. increased its position in shares of Broadcom by 2.7% during the second quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer’s stock valued at $467,334,000 after purchasing an additional 7,608 shares during the period. Renaissance Investment Group LLC grew its position in Broadcom by 851.2% in the third quarter. Renaissance Investment Group LLC now owns 120,969 shares of the semiconductor manufacturer’s stock valued at $20,867,000 after acquiring an additional 108,251 shares during the period. MRA Advisory Group grew its position in Broadcom by 954.1% in the third quarter. MRA Advisory Group now owns 9,455 shares of the semiconductor manufacturer’s stock valued at $1,631,000 after acquiring an additional 8,558 shares during the period. Red Spruce Capital LLC grew its position in Broadcom by 854.9% in the third quarter. Red Spruce Capital LLC now owns 32,915 shares of the semiconductor manufacturer’s stock valued at $5,678,000 after acquiring an additional 29,468 shares during the period. Finally, Ensign Peak Advisors Inc grew its position in Broadcom by 19.1% in the second quarter. Ensign Peak Advisors Inc now owns 524,537 shares of the semiconductor manufacturer’s stock valued at $842,160,000 after acquiring an additional 84,196 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Broadcom Trading Down 0.9 %

Shares of AVGO opened at $179.89 on Friday. 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 Inc. has a 12-month low of $81.83 and a 12-month high of $186.42. The firm has a market capitalization of $837.37 billion, a PE ratio of 7.74, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17. The stock’s fifty day simple moving average is $166.52 and its 200-day simple moving average is $153.25.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating 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 business had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same quarter in the prior year, the firm posted $0.95 earnings per share. The firm’s revenue for the quarter was up 47.3% compared to the same quarter last year. As a group, research analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were paid a $0.53 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a yield of 1.18%. Broadcom’s dividend payout ratio is presently 9.12%.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 18,900 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total value of $3,456,432.00. Following the transaction, the insider now owns 380,560 shares of the company’s stock, valued at approximately $69,596,812.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 18,900 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total value of $3,456,432.00. Following the completion of the transaction, the insider now directly owns 380,560 shares in the company, valued at $69,596,812.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of analyst reports. The Goldman Sachs Group upped their price target on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, September 6th. StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Oppenheimer lowered their price target on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 16th. Benchmark reiterated a “buy” rating and issued a $210.00 price target on shares of Broadcom in a research report on Friday, September 6th. Finally, TD Cowen upgraded Broadcom to a “strong-buy” rating in a research report on Monday, September 16th. Two research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $191.54.

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.