19,101 Shares in Broadcom Inc. $AVGO Bought by Totem Point Management LLC

Key Points

• Totem Point Management LLC purchased a new position in Broadcom Inc. by acquiring 19,101 shares valued at approximately $3,198,000, making Broadcom 3.9% of their portfolio.
• CFO Kirsten M. Spears sold 36,350 shares of Broadcom, representing a 10.04% decrease in ownership, while a total of 830,516 shares were sold by insiders last quarter.
• Wall Street analysts have varied opinions on Broadcom, with price targets ranging from $300.00 to $325.00, and an average rating of "Buy".

Totem Point Management LLC bought a new position in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 19,101 shares of the semiconductor manufacturer's stock, valued at approximately $3,198,000. Broadcom makes up 3.9% of Totem Point Management LLC's portfolio, making the stock its 8th largest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barnes Dennig Private Wealth Management LLC purchased a new position in Broadcom in the first quarter worth $25,000. Cheviot Value Management LLC purchased a new position in Broadcom in the first quarter worth $25,000. Inlight Wealth Management LLC purchased a new position in Broadcom in the first quarter worth $26,000. Sunbeam Capital Management LLC purchased a new position in Broadcom in the fourth quarter worth $28,000. Finally, Vermillion Wealth Management Inc. purchased a new position in Broadcom in the fourth quarter worth $30,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Broadcom

In other news, CFO Kirsten M. Spears sold 36,350 shares of the stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $261.27, for a total transaction of $9,497,164.50. Following the completion of the sale, the chief financial officer directly owned 325,587 shares in the company, valued at approximately $85,066,115.49. This represents a 10.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gayla J. Delly sold 3,000 shares of the stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $265.13, for a total transaction of $795,390.00. Following the completion of the transaction, the director directly owned 33,352 shares of the company's stock, valued at approximately $8,842,615.76. The trade was a 8.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 830,516 shares of company stock valued at $217,286,457 in the last quarter. 2.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on AVGO. Mizuho boosted their price target on shares of Broadcom from $315.00 to $320.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Oppenheimer reissued an "outperform" rating and issued a $325.00 price target (up from $305.00) on shares of Broadcom in a research note on Thursday. Cantor Fitzgerald reissued an "overweight" rating and issued a $300.00 price target on shares of Broadcom in a research note on Friday, June 6th. Wall Street Zen downgraded shares of Broadcom from a "buy" rating to a "hold" rating in a research note on Monday. Finally, Hsbc Global Res raised shares of Broadcom from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 24th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $301.79.

Broadcom Stock Performance

Broadcom stock opened at $308.65 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. The firm has a 50-day moving average of $286.79 and a 200-day moving average of $234.25. The firm has a market cap of $1.45 trillion, a P/E ratio of 115.60, a P/E/G ratio of 2.14 and a beta of 1.15. Broadcom Inc. has a 1-year low of $134.90 and a 1-year high of $317.35.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, topping analysts' consensus estimates of $1.57 by $0.01. The company had revenue of $15 billion during the quarter, compared to analyst estimates of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. Broadcom's revenue for the quarter was up 20.2% on a year-over-year basis. During the same period in the prior year, the business posted $10.96 earnings per share. Broadcom has set its Q3 2025 guidance at EPS. Sell-side analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were issued 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 was Friday, June 20th. Broadcom's dividend payout ratio is currently 88.39%.

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.

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