KPP Advisory Services LLC Has $2.32 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

KPP Advisory Services LLC raised its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 130.5% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 13,826 shares of the semiconductor manufacturer's stock after acquiring an additional 7,827 shares during the period. KPP Advisory Services LLC's holdings in Broadcom were worth $2,315,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in AVGO. Western Financial Corp CA lifted its holdings in shares of Broadcom by 3.6% in the 1st quarter. Western Financial Corp CA now owns 10,622 shares of the semiconductor manufacturer's stock worth $1,778,000 after purchasing an additional 372 shares in the last quarter. Madrona Financial Services LLC raised its holdings in Broadcom by 11.8% during the first quarter. Madrona Financial Services LLC now owns 1,738 shares of the semiconductor manufacturer's stock worth $291,000 after buying an additional 183 shares during the last quarter. Goldstein Advisors LLC lifted its stake in shares of Broadcom by 66.5% in the first quarter. Goldstein Advisors LLC now owns 6,162 shares of the semiconductor manufacturer's stock valued at $1,032,000 after buying an additional 2,461 shares in the last quarter. Sabal Trust CO lifted its stake in shares of Broadcom by 77.4% in the first quarter. Sabal Trust CO now owns 15,418 shares of the semiconductor manufacturer's stock valued at $2,581,000 after buying an additional 6,728 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV lifted its stake in shares of Broadcom by 9.9% in the first quarter. Creative Financial Designs Inc. ADV now owns 4,961 shares of the semiconductor manufacturer's stock valued at $831,000 after buying an additional 445 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Stock Performance

NASDAQ AVGO opened at $270.17 on Friday. Broadcom Inc. has a 52-week low of $128.50 and a 52-week high of $271.67. The company has a 50-day simple moving average of $227.46 and a 200 day simple moving average of $214.61. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08. The company has a market capitalization of $1.27 trillion, a PE ratio of 101.19, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11.

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

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 20th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Friday, June 20th. Broadcom's dividend payout ratio (DPR) is currently 88.39%.

Broadcom announced that its board has authorized a share buyback program on Monday, April 7th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts have weighed in on AVGO shares. Susquehanna raised their price objective on shares of Broadcom from $280.00 to $300.00 and gave the company a "positive" rating in a research note on Friday, June 6th. Cowen reaffirmed a "buy" rating on shares of Broadcom in a research note on Friday, June 6th. Citigroup raised their price objective on shares of Broadcom from $276.00 to $285.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Hsbc Global Res raised shares of Broadcom from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. Finally, Oppenheimer raised their price objective on shares of Broadcom from $225.00 to $265.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. Two analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Broadcom presently has a consensus rating of "Buy" and a consensus price target of $281.25.

Insider Activity

In other news, insider Mark David Brazeal sold 25,000 shares of the business's stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $180.00, for a total value of $4,500,000.00. Following the sale, the insider now owns 465,956 shares of the company's stock, valued at $83,872,080. The trade was a 5.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $252.88, for a total transaction of $2,528,800.00. Following the completion of the sale, the insider now directly owns 789,784 shares in the company, valued at approximately $199,720,577.92. This trade represents a 1.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 337,818 shares of company stock valued at $84,167,415 over the last quarter. Company insiders own 2.00% of the company's stock.

About Broadcom

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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