Key Financial Inc Purchases 22,221 Shares of Broadcom Inc. (NASDAQ:AVGO)

Key Financial Inc boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 901.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 24,685 shares of the semiconductor manufacturer’s stock after purchasing an additional 22,221 shares during the period. Broadcom comprises approximately 0.9% of Key Financial Inc’s investment portfolio, making the stock its 24th biggest position. Key Financial Inc’s holdings in Broadcom were worth $4,258,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in AVGO. Castleview Partners LLC increased its holdings in shares of Broadcom by 1,030.8% during the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 134 shares during the last quarter. Delta Asset Management LLC TN boosted its position in Broadcom by 242.9% during the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 17 shares during the period. Tsfg LLC grew its holdings in Broadcom by 1,073.7% during the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after purchasing an additional 204 shares during the last quarter. Krane Funds Advisors LLC bought a new position in shares of Broadcom in the third quarter valued at approximately $42,000. Finally, Highline Wealth Partners LLC acquired a new stake in shares of Broadcom in the third quarter worth $45,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In other news, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider Charlie B. Kawwas sold 25,200 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total value of $4,240,404.00. Following the completion of the transaction, the insider now owns 753,280 shares in the company, valued at $126,754,425.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is currently owned by insiders.

Broadcom Trading Down 0.2 %

Shares of AVGO opened at $168.55 on Tuesday. The stock has a 50 day simple moving average of $169.12 and a 200-day simple moving average of $156.30. Broadcom Inc. has a 1 year low of $87.12 and a 1 year high of $186.42. The stock has a market cap of $787.23 billion, a PE ratio of 146.44, a PEG ratio of 2.73 and a beta of 1.17. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The business had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm’s revenue for the quarter was up 47.3% on a year-over-year basis. During the same quarter last year, the company posted $0.95 EPS. On average, sell-side analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a yield of 1.26%. Broadcom’s dividend payout ratio is 184.19%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Rosenblatt Securities dropped their target price on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a report on Friday, September 6th. JPMorgan Chase & Co. lifted their price objective on Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. William Blair started coverage on Broadcom in a research report on Wednesday, September 18th. They set an “outperform” rating for the company. The Goldman Sachs Group raised their target price on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, September 6th. Finally, UBS Group upped their price target on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Monday. Two analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and an average target price of $192.79.

Broadcom Company 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.