Norway Savings Bank Buys Shares of 1,035 Broadcom Inc. $AVGO

Key Points

• Norway Savings Bank has purchased a new position in Broadcom Inc., acquiring 1,035 shares valued at approximately $285,000 during the second quarter.
• Broadcom recently announced a quarterly dividend of $0.59 per share, with the ex-dividend date set for Monday, September 22nd.
• Multiple analysts have upgraded their target prices for Broadcom, with Benchmark raising it from $315.00 to $385.00 and Sanford C. Bernstein from $295.00 to $400.00.

Norway Savings Bank acquired a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,035 shares of the semiconductor manufacturer's stock, valued at approximately $285,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AVGO. Nuveen LLC purchased a new stake in shares of Broadcom during the first quarter valued at about $6,649,117,000. Price T Rowe Associates Inc. MD boosted its stake in Broadcom by 37.8% in the first 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 acquiring an additional 17,985,046 shares in the last quarter. GAMMA Investing LLC grew its holdings in Broadcom by 18,179.3% in the first quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer's stock worth $2,892,548,000 after purchasing an additional 17,181,652 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Broadcom by 16.7% during the first quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer's stock worth $5,333,384,000 after purchasing an additional 4,550,647 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of Broadcom by 36.9% during 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 during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Price Performance

Shares of Broadcom stock traded up $0.24 on Friday, hitting $359.87. The company's stock had a trading volume of 31,929,014 shares, compared to its average volume of 25,785,228. The company has a market capitalization of $1.70 trillion, a price-to-earnings ratio of 91.80, a price-to-earnings-growth ratio of 1.99 and a beta of 1.16. 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 quick ratio of 1.37 and a current ratio of 1.50. The firm has a fifty day moving average price of $300.31 and a 200-day moving average price of $242.50.

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

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, September 22nd. Broadcom's dividend payout ratio is 60.20%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $300.00 price objective on shares of Broadcom in a research report on Friday, June 6th. Erste Group Bank raised shares of Broadcom from a "hold" rating to a "buy" rating in a report on Thursday, June 5th. TD Cowen lifted their price objective on shares of Broadcom from $355.00 to $370.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Piper Sandler upped their target price on Broadcom from $315.00 to $375.00 and gave the company an "overweight" rating in a research report on Friday, September 5th. Finally, Argus raised their target price on Broadcom from $285.00 to $375.00 and gave the stock a "buy" rating in a research note on Monday, September 8th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Broadcom has an average rating of "Buy" and an average target price of $354.04.

Insider Activity at Broadcom

In other news, CEO Hock E. Tan sold 148,154 shares of the firm's stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $336.67, for a total transaction of $49,879,007.18. Following the completion of the transaction, the chief executive officer directly owned 825,998 shares in the company, valued at $278,088,746.66. This trade represents a 15.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark David Brazeal sold 50,000 shares of Broadcom stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $253.28, for a total value of $12,664,000.00. Following the completion of the transaction, the insider owned 415,956 shares of the company's stock, valued at approximately $105,353,335.68. This trade represents a 10.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 3,550 shares of company stock valued at $1,227,869 and have sold 850,912 shares valued at $234,854,489. 2.00% of the stock is owned by corporate insiders.

About Broadcom

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.