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KLCM Advisors Inc. Has $6.15 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Broadcom logo with Computer and Technology background

KLCM Advisors Inc. boosted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 681.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,710 shares of the semiconductor manufacturer's stock after purchasing an additional 32,010 shares during the quarter. KLCM Advisors Inc.'s holdings in Broadcom were worth $6,146,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Barnes Dennig Private Wealth Management LLC bought a new stake in Broadcom during the first quarter worth $25,000. Cheviot Value Management LLC bought a new stake in Broadcom in the first quarter valued at approximately $25,000. Inlight Wealth Management LLC bought a new stake in Broadcom in the first quarter valued at approximately $26,000. Sunbeam Capital Management LLC bought a new stake in Broadcom in the fourth quarter valued at approximately $28,000. Finally, Vermillion Wealth Management Inc. bought a new stake in Broadcom in the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Stock Down 1.2%

Shares of NASDAQ:AVGO opened at $309.09 on Thursday. The company has a market capitalization of $1.45 trillion, a PE ratio of 115.76, a price-to-earnings-growth ratio of 2.22 and a beta of 1.15. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. The business has a fifty day moving average price of $276.06 and a two-hundred day moving average price of $228.20. Broadcom Inc. has a 1 year low of $134.90 and a 1 year high of $317.35.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.57 by $0.01. The firm had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The business's revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $10.96 EPS. Analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, June 20th. Broadcom's dividend payout ratio is 88.39%.

Analysts Set New Price Targets

Several brokerages recently commented on AVGO. Benchmark upped their target price on Broadcom from $255.00 to $315.00 and gave the company a "buy" rating in a report on Friday, June 6th. Erste Group Bank raised Broadcom from a "hold" rating to a "buy" rating in a research note on Thursday, June 5th. Morgan Stanley set a $338.00 price target on Broadcom and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Truist Financial set a $295.00 price target on Broadcom and gave the company a "buy" rating in a research note on Friday, June 6th. Finally, HSBC raised Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price target on the stock in a research note on Tuesday, June 24th. Two analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $295.96.

Get Our Latest Stock Report on Broadcom

Insider Transactions at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 10,000 shares of the company's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $252.88, for a total value of $2,528,800.00. Following the completion of the transaction, the insider owned 789,784 shares in the company, valued at $199,720,577.92. This represents a 1.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hock E. Tan sold 117,758 shares of the company's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $252.91, for a total value of $29,782,175.78. Following the completion of the transaction, the chief executive officer owned 1,014,152 shares of the company's stock, valued at $256,489,182.32. This trade represents a 10.40% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 829,716 shares of company stock worth $217,040,489. Company insiders own 2.00% of the company's stock.

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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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