1248 Management LLC Grows Position in Broadcom Inc. $AVGO

Key Points

• 1248 Management LLC has significantly increased its stake in Broadcom Inc. by 213.5% in the first quarter, owning 4,744 shares valued at approximately $794,000.
• Broadcom's shares are currently down 3.6%, with a 52-week high of $317.35 and a market capitalization of $1.40 trillion.
• Recent research reports show a positive outlook for Broadcom, with target price increases from multiple analysts, reflecting overall confidence in the company's growth potential.

1248 Management LLC grew its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 213.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,744 shares of the semiconductor manufacturer's stock after purchasing an additional 3,231 shares during the period. 1248 Management LLC's holdings in Broadcom were worth $794,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. PARUS FINANCE UK Ltd boosted its position in Broadcom by 175.3% in the 1st quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer's stock worth $16,840,000 after purchasing an additional 64,038 shares in the last quarter. Keener Financial Planning LLC lifted its position in shares of Broadcom by 34.8% during the 1st quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer's stock valued at $149,000 after buying an additional 230 shares in the last quarter. Diversify Wealth Management LLC lifted its position in shares of Broadcom by 5.6% during the 1st quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer's stock valued at $6,365,000 after buying an additional 2,016 shares in the last quarter. OMNI 360 Wealth Inc. lifted its position in shares of Broadcom by 51.6% during the 1st quarter. OMNI 360 Wealth Inc. now owns 2,980 shares of the semiconductor manufacturer's stock valued at $499,000 after buying an additional 1,014 shares in the last quarter. Finally, Gamco Investors INC. ET AL lifted its position in shares of Broadcom by 1.3% during the 1st quarter. Gamco Investors INC. ET AL now owns 54,406 shares of the semiconductor manufacturer's stock valued at $9,109,000 after buying an additional 700 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom Stock Down 3.6%

Shares of AVGO opened at $297.39 on Monday. Broadcom Inc. has a 52-week low of $134.90 and a 52-week high of $317.35. The company has a market capitalization of $1.40 trillion, a PE ratio of 111.38, a price-to-earnings-growth ratio of 2.11 and a beta of 1.16. The stock has a fifty day simple moving average of $287.74 and a two-hundred day simple moving average of $234.66. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.57 by $0.01. Broadcom had a return on equity of 35.49% and a net margin of 22.64%.The business had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.98 billion. During the same period last year, the company earned $10.96 EPS. The company's revenue for the quarter was up 20.2% on a year-over-year basis. Broadcom has set its Q3 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 disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom's dividend payout ratio (DPR) is presently 88.39%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Rosenblatt Securities increased their target price on Broadcom from $223.00 to $340.00 and gave the company a "buy" rating in a research report on Friday, June 6th. JPMorgan Chase & Co. increased their target price on Broadcom from $250.00 to $325.00 and gave the company an "overweight" rating in a research report on Friday, June 6th. Evercore ISI reiterated an "outperform" rating and set a $304.00 target price (up previously from $267.00) on shares of Broadcom in a research report on Friday, June 6th. Cowen reiterated a "buy" rating on shares of Broadcom in a research report on Friday, June 6th. Finally, Citigroup increased their target price on Broadcom from $285.00 to $315.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $301.79.

Insider Activity

In related news, CEO Hock E. Tan sold 40,000 shares of the firm's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $268.29, for a total transaction of $10,731,600.00. Following the completion of the sale, the chief executive officer directly owned 482,836 shares of the company's stock, valued at approximately $129,540,070.44. This trade represents a 7.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kirsten M. Spears sold 36,350 shares of the firm's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $261.27, for a total value of $9,497,164.50. Following the sale, the chief financial officer directly owned 325,587 shares of the company's stock, valued at $85,066,115.49. The trade was a 10.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 830,516 shares of company stock worth $217,286,457. 2.00% of the stock is currently owned by corporate insiders.

Broadcom 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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