Kalos Management Inc. Acquires 884 Shares of Broadcom Limited (AVGO)
Kalos Management Inc. increased its holdings in shares of Broadcom Limited (NASDAQ:AVGO) by 4.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,398 shares of the semiconductor manufacturer’s stock after purchasing an additional 884 shares during the period. Broadcom makes up 3.2% of Kalos Management Inc.’s portfolio, making the stock its biggest position. Kalos Management Inc.’s holdings in Broadcom were worth $4,947,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in AVGO. Janus Henderson Group PLC raised its position in Broadcom by 80.3% in the 3rd quarter. Janus Henderson Group PLC now owns 3,397,443 shares of the semiconductor manufacturer’s stock valued at $823,980,000 after buying an additional 1,512,956 shares during the last quarter. Ameriprise Financial Inc. raised its position in Broadcom by 18.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,704,177 shares of the semiconductor manufacturer’s stock valued at $2,028,442,000 after buying an additional 1,338,695 shares during the last quarter. Jennison Associates LLC raised its position in Broadcom by 26.7% in the 2nd quarter. Jennison Associates LLC now owns 5,345,868 shares of the semiconductor manufacturer’s stock valued at $1,245,855,000 after buying an additional 1,128,052 shares during the last quarter. BlackRock Inc. raised its position in Broadcom by 3.5% in the 2nd quarter. BlackRock Inc. now owns 23,930,917 shares of the semiconductor manufacturer’s stock valued at $5,577,099,000 after buying an additional 798,982 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Broadcom by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 27,561,770 shares of the semiconductor manufacturer’s stock valued at $6,423,271,000 after buying an additional 793,335 shares during the last quarter. Institutional investors and hedge funds own 88.99% of the company’s stock.
A number of equities research analysts recently issued reports on AVGO shares. Barclays lifted their target price on Broadcom from $290.00 to $300.00 and gave the company an “overweight” rating in a research report on Wednesday, October 18th. B. Riley boosted their price target on Broadcom from $305.00 to $315.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Vetr lowered Broadcom from a “buy” rating to a “hold” rating and set a $261.95 price target on the stock. in a research report on Monday, September 4th. Zacks Investment Research raised Broadcom from a “hold” rating to a “buy” rating and set a $272.00 price target on the stock in a research report on Tuesday, August 29th. Finally, Royal Bank Of Canada boosted their price target on Broadcom from $300.00 to $315.00 and gave the stock a “top pick” rating in a research report on Monday, November 20th. Five research analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $303.13.
In related news, SVP Bryan Ingram sold 10,000 shares of the business’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $240.62, for a total value of $2,406,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Hock E. Tan sold 20,000 shares of the business’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $246.48, for a total value of $4,929,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 103,389 shares of company stock valued at $25,712,376 over the last quarter. 3.60% of the stock is currently owned by corporate insiders.
Broadcom Limited (NASDAQ:AVGO) opened at $259.91 on Monday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 3.84 and a current ratio of 6.39. Broadcom Limited has a one year low of $173.31 and a one year high of $285.68. The company has a market capitalization of $106,040.00, a P/E ratio of 18.05, a PEG ratio of 1.18 and a beta of 1.05.
Broadcom (NASDAQ:AVGO) last issued its earnings results on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.52 by $0.07. Broadcom had a return on equity of 28.61% and a net margin of 10.18%. The company had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.84 billion. During the same period in the previous year, the company posted $3.47 EPS. The firm’s revenue for the quarter was up 17.1% compared to the same quarter last year. research analysts anticipate that Broadcom Limited will post 16.04 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Tuesday, December 19th will be paid a dividend of $1.75 per share. This is an increase from Broadcom’s previous quarterly dividend of $1.02. This represents a $7.00 annualized dividend and a dividend yield of 2.69%. The ex-dividend date is Monday, December 18th. Broadcom’s payout ratio is currently 334.43%.
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Broadcom Company Profile
Broadcom Limited is a designer, developer and global supplier of a range of semiconductor devices with a focus on digital and mixed signal complementary metal oxide semiconductor (CMOS)-based devices and analog III-V based products. The Company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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