Steigerwald Gordon & Koch Inc. buys 77 shares of Broadcom Inc. (NASDAQ:AVGO)

Steigerwald Gordon & Koch Inc. raised its position in shares of Broadcom Inc. (NASDAQ:AVGO – Free Report) by 25.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 378 shares of the semiconductor maker’s stock after acquiring an additional 77 shares during the period. Holdings of Steigerwald Gordon & Koch Inc. in Broadcom were worth $608,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have recently made changes to their positions in AVGO. Legend Financial Advisors Inc. raised its holdings in shares of Broadcom by 72.7% in the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor maker’s stock worth $25,000 after buying an additional 8 shares in the last quarter. Richardson Capital Management LLC bought a new stake in shares of Broadcom in the 1st quarter worth about $29,000. Delta Asset Management LLC TN grew its holdings in shares of Broadcom by 242.9% in the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor maker’s stock worth $32,000 after acquiring an additional 17 shares in the last quarter. Redmont Wealth Advisors LLC acquired a new position in shares of Broadcom in the first quarter worth approximately $36,000. Finally, Ulland Investment Advisors LLC purchased a new position in shares of Broadcom in the first quarter worth about $37,000. 76.43% of shares are currently owned by institutional investors.

Broadcom price performance

Shares of NASDAQ:AVGO opened at $158.27 on Thursday. 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 Inc. has a 12-month low of $79.51 and a 12-month high of $185.16. The stock’s 50-day moving average is $188.37 and its 200-day moving average is $156.34. The firm has a market cap of $736.73 billion, a price-to-earnings ratio of 6.81, a PEG ratio of 2.41 and a beta of 1.16.

Broadcom (NASDAQ:AVGO – Get Free Report ) last announced its quarterly earnings results on Thursday, September 5th. The semiconductor maker reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. In the same quarter last year, the company posted earnings of $0.95 per share. Broadcom’s revenue was up 47.3% compared to the same quarter last year. Sell-side analysts estimate that Broadcom Inc. will post 3.75 EPS for the current fiscal year.

Broadcom raises dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 19th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, September 19. This represents an annualized dividend of $2.12 and a yield of 1.34%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is 9.12%.

Analysts on Wall Street are forecasting an increase

A number of equities analysts recently commented on AVGO shares. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price objective on shares of Broadcom in a research note on Friday, September 6th. Melius Research started coverage on Broadcom in a research note on Monday, June 3rd. They issued a “buy” rating and a $185.00 price objective on the stock. Oppenheimer reduced their price objective on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 16th. TD Cowen lifted their price objective on Broadcom from $175.00 to $210.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Finally, Melius initiated coverage on Broadcom in a research note on Monday, June 3rd. They issued a “buy” rating and a $185.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Broadcom has a consensus rating of “Moderate Buy” and an average price target of $189.23, according to MarketBeat.

Check out the latest stock report on AVGO

Insider buying and selling

In related news, CEO Hock E. Tan sold 7,502 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the completion of the sale, the chief executive officer now owns 138,191 shares in the company, valued at $235,746,936.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Broadcom news, CEO Hock E. Tan sold 7,502 shares of the business’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the completion of the transaction, the chief executive officer now owns 138,191 shares in the company, valued at approximately $235,746,936.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. Also, Director Justine Page sold 2,540 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $175.03, for a total value of $444,566.04. Following the completion of the transaction, the director now owns 27,480 shares of the company’s stock, valued at approximately $4,809,714.48. The disclosure for this sale can be found here. 2.00% of the shares are currently owned by corporate insiders.

About Broadcom

(Free Report)

Broadcom Inc designs, develops and supplies various semiconductor devices with a focus on complex and mixed-signal complementary metal oxide semiconductor devices and III-V analog products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.

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