Keystone Investors PTE Ltd. Boosts Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Keystone Investors PTE Ltd. boosted its stake in Broadcom Inc. (NASDAQ:AVGOFree Report) by 13.2% in the 4th quarter, Holdings Channel reports. The firm owned 2,732 shares of the semiconductor manufacturer’s stock after acquiring an additional 319 shares during the quarter. Broadcom accounts for approximately 0.3% of Keystone Investors PTE Ltd.’s portfolio, making the stock its 22nd largest position. Keystone Investors PTE Ltd.’s holdings in Broadcom were worth $3,050,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in AVGO. Pathway Financial Advisors LLC lifted its holdings in shares of Broadcom by 11.1% during the 4th quarter. Pathway Financial Advisors LLC now owns 933 shares of the semiconductor manufacturer’s stock worth $1,041,000 after acquiring an additional 93 shares during the last quarter. Todd Asset Management LLC boosted its holdings in shares of Broadcom by 26.3% in the 4th quarter. Todd Asset Management LLC now owns 79,765 shares of the semiconductor manufacturer’s stock worth $89,038,000 after purchasing an additional 16,608 shares in the last quarter. Benjamin Edwards Inc. raised its holdings in shares of Broadcom by 3.0% during the 4th quarter. Benjamin Edwards Inc. now owns 3,141 shares of the semiconductor manufacturer’s stock valued at $3,506,000 after buying an additional 91 shares in the last quarter. Stegent Equity Advisors Inc. bought a new stake in shares of Broadcom in the 4th quarter worth approximately $271,000. Finally, Intrust Bank NA boosted its position in Broadcom by 1.7% during the fourth quarter. Intrust Bank NA now owns 6,070 shares of the semiconductor manufacturer’s stock valued at $6,776,000 after buying an additional 99 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a research report on Monday, April 8th. Susquehanna increased their price target on shares of Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research report on Wednesday, February 28th. Oppenheimer restated an “outperform” rating and issued a $1,500.00 price objective (up previously from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Barclays increased their target price on shares of Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $1,500.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Three analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,296.91.

View Our Latest Report on Broadcom

Insider Buying and Selling at Broadcom

In related news, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the sale, the insider now directly owns 16,575 shares in the company, valued at $22,276,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Eddy W. Hartenstein sold 3,150 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the sale, the director now directly owns 4,643 shares in the company, valued at approximately $5,991,048.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the sale, the insider now directly owns 16,575 shares in the company, valued at $22,276,800. The disclosure for this sale can be found here. Insiders sold 29,920 shares of company stock valued at $40,306,667 in the last 90 days. Insiders own 2.00% of the company’s stock.

Broadcom Price Performance

NASDAQ:AVGO traded up $35.65 on Wednesday, reaching $1,415.68. 1,251,504 shares of the company’s stock traded hands, compared to its average volume of 2,786,361. The stock has a 50-day simple moving average of $1,307.76 and a 200-day simple moving average of $1,174.81. Broadcom Inc. has a 12 month low of $638.73 and a 12 month high of $1,438.17. The firm has a market cap of $656.05 billion, a PE ratio of 51.68, a P/E/G ratio of 2.71 and a beta of 1.25. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGOGet Free Report) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. The company had revenue of $11.96 billion for the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The firm’s revenue was up 34.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $9.83 EPS. Equities research analysts forecast that Broadcom Inc. will post 36.09 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a $5.25 dividend. This represents a $21.00 annualized dividend and a yield of 1.48%. The ex-dividend date was Wednesday, March 20th. Broadcom’s payout ratio is currently 77.84%.

Broadcom Company Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGOFree Report).

Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

Receive News & Ratings for Broadcom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom and related companies with MarketBeat.com's FREE daily email newsletter.