111 Capital Buys New Stake in Broadcom Inc. $AVGO

Key Points

• 111 Capital has acquired a new stake in Broadcom Inc., purchasing 36,426 shares valued at approximately $10 million, making it the eighth largest position in the firm's portfolio.
• Multiple hedge funds, including Nuveen LLC and Goldman Sachs Group, have also significantly increased their stakes in Broadcom during the first quarter of the year.
• Broadcom recently announced a quarterly dividend of $0.59 per share, reflecting an annualized payout of $2.36 and a yield of 0.7%.

111 Capital purchased a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 36,426 shares of the semiconductor manufacturer's stock, valued at approximately $10,041,000. Broadcom makes up about 1.7% of 111 Capital's holdings, making the stock its 8th largest position.

A number of other hedge funds have also made changes to their positions in the business. Nuveen LLC acquired a new stake in Broadcom during the first quarter worth approximately $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. Goldman Sachs Group Inc. grew its holdings 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 during the last quarter. Deutsche Bank AG increased its position in shares of Broadcom by 36.9% during the first quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer's stock worth $2,638,512,000 after purchasing an additional 4,245,345 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of 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 during the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Transactions at Broadcom

In other Broadcom news, CFO Kirsten M. Spears sold 7,498 shares of the firm's stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total value of $2,606,754.68. Following the completion of the sale, the chief financial officer 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 3,893 shares of the company's stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total transaction of $1,354,063.26. Following the transaction, the insider directly owned 25,295 shares in the company, valued at approximately $8,798,106.90. This trade represents a 13.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have bought 3,550 shares of company stock valued at $1,227,869 and have sold 666,071 shares valued at $225,623,008. 2.00% of the stock is owned by insiders.

Broadcom Trading Up 2.7%

NASDAQ AVGO opened at $345.50 on Thursday. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $1.63 trillion, a P/E ratio of 88.14, a P/E/G ratio of 1.86 and a beta of 1.20. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $374.23. The firm has a 50-day moving average price of $320.89 and a 200 day moving average price of $260.37.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, beating analysts' consensus estimates of $1.66 by $0.03. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The company had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. During the same quarter in the previous year, the company earned $1.24 EPS. The firm's revenue for the quarter was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. Equities research analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were issued 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 currently 60.20%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AVGO. Mizuho raised their price target on Broadcom from $355.00 to $410.00 and gave the stock an "outperform" rating in a research note on Friday, September 12th. Macquarie began coverage on shares of Broadcom in a research report on Monday, September 15th. They set an "outperform" rating and a $420.00 target price on the stock. Piper Sandler lifted their target price on shares of Broadcom from $315.00 to $375.00 and gave the company an "overweight" rating in a report on Friday, September 5th. HSBC upgraded shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price target for the company in a research report on Tuesday, June 24th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Broadcom from $325.00 to $400.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price 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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