Kieckhefer Group LLC Buys New Shares in Broadcom Inc. (NASDAQ:AVGO)

Kieckhefer Group LLC purchased a new stake in Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 300 shares of the semiconductor manufacturer’s stock, valued at approximately $70,000.

A number of other institutional investors and hedge funds also recently modified their holdings of AVGO. Richardson Financial Services Inc. raised its position in shares of Broadcom by 2.4% in the 3rd quarter. Richardson Financial Services Inc. now owns 2,507 shares of the semiconductor manufacturer’s stock worth $415,000 after buying an additional 59 shares during the period. Michael S. Ryan Inc. boosted its position in shares of Broadcom by 0.7% in the fourth quarter. Michael S. Ryan Inc. now owns 8,959 shares of the semiconductor manufacturer’s stock worth $2,077,000 after buying an additional 61 shares during the period. Delta Investment Management LLC grew its stake in shares of Broadcom by 14.9% in the second quarter. Delta Investment Management LLC now owns 510 shares of the semiconductor manufacturer’s stock valued at $818,000 after buying an additional 66 shares in the last quarter. Raab & Moskowitz Asset Management LLC raised its holdings in shares of Broadcom by 6.2% during the 2nd quarter. Raab & Moskowitz Asset Management LLC now owns 1,156 shares of the semiconductor manufacturer’s stock valued at $1,856,000 after buying an additional 67 shares during the period. Finally, Rise Advisors LLC boosted its holdings in Broadcom by 3.0% in the 4th quarter. Rise Advisors LLC now owns 2,335 shares of the semiconductor manufacturer’s stock worth $541,000 after acquiring an additional 67 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AVGO. UBS Group lifted their price objective on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Piper Sandler upped their price objective on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Jefferies Financial Group boosted their price target on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Morgan Stanley increased their price objective on shares of Broadcom from $233.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Finally, Evercore ISI increased their price target on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $223.54.

Broadcom Price Performance

NASDAQ:AVGO traded up $0.77 during trading hours on Monday, reaching $225.08. 9,522,910 shares of the company’s stock were exchanged, compared to its average volume of 23,935,791. The company has a market capitalization of $1.06 trillion, a P/E ratio of 195.55, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03. Broadcom Inc. has a 12 month low of $109.02 and a 12 month high of $251.88. The business’s 50-day simple moving average is $196.90 and its two-hundred day simple moving average is $175.71. 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 (NASDAQ:AVGO) last announced its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The company had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. Broadcom’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.98 earnings per share. Sell-side analysts expect that Broadcom Inc. will post 3.79 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.05%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is currently 191.87%.

Insider Buying and Selling

In other news, Director Harry L. You sold 6,540 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the transaction, the director now owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. This represents a 17.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark David Brazeal sold 20,168 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the transaction, the insider now owns 321,660 shares in the company, valued at approximately $76,809,191.40. This trade represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 191,278 shares of company stock valued at $44,964,800. 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.