Klingenstein Fields & Co. LP Has $89.64 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Klingenstein Fields & Co. LP lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 80,302 shares of the semiconductor manufacturer’s stock after selling 1,848 shares during the quarter. Broadcom comprises 4.0% of Klingenstein Fields & Co. LP’s portfolio, making the stock its 2nd largest holding. Klingenstein Fields & Co. LP’s holdings in Broadcom were worth $89,637,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in AVGO. PSI Advisors LLC lifted its holdings in shares of Broadcom by 66.7% during the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after buying an additional 10 shares during the last quarter. Macroview Investment Management LLC acquired a new position in shares of Broadcom during the third quarter worth approximately $29,000. BKM Wealth Management LLC acquired a new position in shares of Broadcom during the fourth quarter worth approximately $29,000. CKW Financial Group acquired a new position in shares of Broadcom during the fourth quarter worth approximately $30,000. Finally, VitalStone Financial LLC lifted its holdings in shares of Broadcom by 71.4% during the first quarter. VitalStone Financial LLC now owns 60 shares of the semiconductor manufacturer’s stock worth $40,000 after buying an additional 25 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of AVGO stock traded down $54.28 during trading hours on Friday, hitting $1,204.71. 4,479,658 shares of the company’s stock were exchanged, compared to its average volume of 2,254,590. The stock’s 50-day moving average is $1,305.11 and its 200-day moving average is $1,120.88. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The stock has a market cap of $558.29 billion, a price-to-earnings ratio of 44.65, a price-to-earnings-growth ratio of 2.46 and a beta of 1.25. Broadcom Inc. has a 52 week low of $601.29 and a 52 week high of $1,438.17.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping the consensus estimate of $8.95 by $2.04. The company had revenue of $11.96 billion for the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $9.83 earnings per share. As a group, research analysts forecast that Broadcom Inc. will post 35.88 EPS for the current year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a $5.25 dividend. This represents a $21.00 annualized dividend and a yield of 1.74%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio is 77.84%.

Insider Activity at Broadcom

In related news, Director Justine Page sold 110 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total value of $145,530.00. Following the transaction, the director now owns 3,125 shares in the company, valued at $4,134,375. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Justine Page sold 110 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total value of $145,530.00. Following the transaction, the director now owns 3,125 shares in the company, valued at $4,134,375. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the transaction, the director now owns 4,643 shares in the company, valued at approximately $5,991,048.62. The disclosure for this sale can be found here. Insiders have sold a total of 29,920 shares of company stock worth $40,306,667 over the last 90 days. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AVGO. The Goldman Sachs Group reiterated a “buy” rating and set a $1,325.00 price target on shares of Broadcom in a report on Friday, January 19th. TD Cowen upgraded Broadcom from a “market perform” rating to an “outperform” rating and upped their target price for the company from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. UBS Group upped their target price on Broadcom to $1,480.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Mizuho upped their target price on Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and issued a $1,700.00 target price on shares of Broadcom in a research note on Thursday, March 21st. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,285.41.

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.