KLCM Advisors Inc. Makes New Investment in Broadcom Inc. (NASDAQ:AVGO)

KLCM Advisors Inc. bought a new position in Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 675 shares of the semiconductor manufacturer’s stock, valued at approximately $753,000.

A number of other institutional investors and hedge funds have also modified their holdings of AVGO. Norges Bank bought a new stake in shares of Broadcom in the 4th quarter worth $2,222,676,000. Moneta Group Investment Advisors LLC increased its holdings in shares of Broadcom by 122,794.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,667,161 shares of the semiconductor manufacturer’s stock worth $2,050,420,000 after purchasing an additional 3,664,177 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Broadcom by 113,495.7% in the 4th quarter. International Assets Investment Management LLC now owns 3,327,217 shares of the semiconductor manufacturer’s stock worth $37,140,060,000 after purchasing an additional 3,324,288 shares in the last quarter. Providence Capital Advisors LLC grew its holdings in shares of Broadcom by 49,919.1% in the first quarter. Providence Capital Advisors LLC now owns 2,437,432 shares of the semiconductor manufacturer’s stock worth $3,799,000 after acquiring an additional 2,432,559 shares during the period. Finally, Wellington Management Group LLP grew its holdings in shares of Broadcom by 43.9% in the third quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer’s stock worth $3,343,631,000 after acquiring an additional 1,228,755 shares during the period. Institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of Broadcom stock traded down $33.14 during trading hours on Wednesday, hitting $1,295.92. The company’s stock had a trading volume of 945,761 shares, compared to its average volume of 2,932,906. The business has a 50 day moving average price of $1,306.49 and a two-hundred day moving average price of $1,114.01. Broadcom Inc. has a 12-month low of $601.29 and a 12-month high of $1,438.17. The company has a market cap of $600.56 billion, a PE ratio of 48.70, a PEG ratio of 2.67 and a beta of 1.25. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating the consensus estimate of $8.95 by $2.04. The business had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business’s revenue was up 34.2% on a year-over-year basis. During the same period in the previous year, the business earned $9.83 earnings per share. Analysts expect that Broadcom Inc. will post 35.95 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were given a $5.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.62%. Broadcom’s dividend payout ratio is currently 77.84%.

Insider Buying and Selling

In related news, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,316.46, for a total value of $3,291,150.00. Following the sale, the insider now directly owns 41,974 shares in the company, valued at $55,257,092.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Broadcom news, Director Justine Page sold 110 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the sale, the director now directly owns 3,125 shares of the company’s stock, valued at $4,134,375. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $1,316.46, for a total value of $3,291,150.00. Following the sale, the insider now directly owns 41,974 shares in the company, valued at $55,257,092.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,920 shares of company stock worth $40,306,667. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

AVGO has been the subject of several research analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Benchmark reaffirmed a “buy” rating and issued a $1,720.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Oppenheimer reaffirmed an “outperform” rating and issued a $1,500.00 price objective (up previously from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. Susquehanna lifted their price objective on Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a report on Wednesday, February 28th. Finally, StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,281.09.

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.