1,000 Shares in Broadcom Inc. $AVGO Purchased by Phraction Management LLC

Key Points

• Phraction Management LLC acquired 1,000 shares of Broadcom Inc. (NASDAQ: AVGO) valued at approximately $276,000 in the 2nd quarter of 2023.
• Broadcom recently reported $1.69 earnings per share for the last quarter, outperforming analysts' estimates by $0.03 and showing a year-over-year revenue increase of 22.0%.
• The company announced a quarterly dividend of $0.59 per share, translating to an annual yield of 0.7% and a payout ratio of 60.20%.

Phraction Management LLC acquired a new position in Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 1,000 shares of the semiconductor manufacturer's stock, valued at approximately $276,000.

Several other institutional investors and hedge funds have also made changes to their positions in AVGO. Nuveen LLC purchased a new position in Broadcom in the 1st quarter valued at about $6,649,117,000. Price T Rowe Associates Inc. MD lifted its holdings in Broadcom by 37.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer's stock valued at $10,968,270,000 after purchasing an additional 17,985,046 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Broadcom by 16.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer's stock valued at $5,333,384,000 after purchasing an additional 4,550,647 shares in the last quarter. Deutsche Bank AG lifted its holdings in Broadcom by 36.9% in the 1st quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer's stock valued at $2,638,512,000 after purchasing an additional 4,245,345 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in Broadcom by 16.0% in the 1st quarter. Alliancebernstein L.P. now owns 29,513,814 shares of the semiconductor manufacturer's stock valued at $4,941,498,000 after purchasing an additional 4,077,910 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Trading Up 0.3%

Shares of AVGO stock opened at $336.41 on Wednesday. The firm's 50-day simple moving average is $320.03 and its 200-day simple moving average is $259.78. The firm has a market cap of $1.59 trillion, a P/E ratio of 85.82, a PEG ratio of 1.86 and a beta of 1.20. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $374.23. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.66 by $0.03. The firm had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The company's revenue was up 22.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. As a group, equities analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Monday, September 22nd. Broadcom's dividend payout ratio is 60.20%.

Insider Activity

In related news, insider Charlie B. Kawwas sold 3,893 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total transaction of $1,354,063.26. Following the completion of the sale, the insider owned 25,295 shares of the company's stock, valued at approximately $8,798,106.90. This represents a 13.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kirsten M. Spears sold 7,498 shares of the stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the sale, the chief financial officer directly owned 313,330 shares of the company's stock, valued at approximately $108,932,307.80. This trade represents a 2.34% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 3,550 shares of company stock worth $1,227,869 and have sold 666,071 shares worth $225,623,008. Company insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of recent research reports. Weiss Ratings restated a "buy (b-)" rating on shares of Broadcom in a report on Saturday, September 27th. Argus upped their target price on shares of Broadcom from $285.00 to $375.00 and gave the company a "buy" rating in a report on Monday, September 8th. HSBC upgraded shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 target price on the stock in a report on Tuesday, June 24th. Mizuho increased their price objective on shares of Broadcom from $355.00 to $410.00 and gave the stock an "outperform" rating in a report on Friday, September 12th. Finally, Wall Street Zen upgraded shares of Broadcom from a "hold" rating to a "buy" rating in a report on Saturday, September 6th. Three research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, Broadcom presently has an average rating of "Buy" and a consensus price target of $357.22.

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.

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