21 West Wealth Management LLC Takes $344,000 Position in Broadcom Inc. $AVGO

Key Points

• 21 West Wealth Management LLC has acquired a $344,000 stake in Broadcom Inc., purchasing 1,248 shares during the second quarter.
• Broadcom reported $1.69 earnings per share for the last quarter, exceeding analysts' expectations and reflecting a 22% increase in revenue compared to the same quarter last year.
• The company declared a quarterly dividend of $0.59 per share, with a dividend yield of 0.7%, payable on September 30th.

21 West Wealth Management LLC bought a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,248 shares of the semiconductor manufacturer's stock, valued at approximately $344,000.

Other institutional investors have also modified their holdings of the company. Sunbeam Capital Management LLC bought a new stake in shares of Broadcom during the 4th quarter valued at about $28,000. Vermillion Wealth Management Inc. bought a new stake in shares of Broadcom during the 4th quarter valued at about $30,000. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Broadcom during the 1st quarter valued at about $25,000. Cheviot Value Management LLC bought a new stake in shares of Broadcom during the 1st quarter valued at about $25,000. Finally, Inlight Wealth Management LLC bought a new stake in shares of Broadcom during the 1st quarter valued at about $26,000. Institutional investors own 76.43% of the company's stock.

Broadcom Trading Up 0.1%

Shares of NASDAQ:AVGO opened at $359.87 on Monday. The stock has a market capitalization of $1.70 trillion, a price-to-earnings ratio of 91.80, a PEG 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 company has a 50 day moving average price of $300.31 and a 200 day moving average price of $242.50.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results 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 firm 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% compared to the same quarter last year. During the same period last year, the firm posted $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. On average, research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on AVGO. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $300.00 price objective on shares of Broadcom in a research report on Friday, June 6th. Susquehanna upped their target price on shares of Broadcom from $280.00 to $300.00 and gave the stock a "positive" rating in a research report on Friday, June 6th. JPMorgan Chase & Co. upped their target price 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. Evercore ISI restated an "outperform" rating and issued a $342.00 target price (up previously from $304.00) on shares of Broadcom in a research report on Thursday, September 4th. Finally, Rosenblatt Securities upped their target price on shares of Broadcom from $340.00 to $400.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $354.04.

Insiders Place Their Bets

In related news, Director Gayla J. Delly sold 3,000 shares of the company's stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $265.13, for a total value of $795,390.00. Following the completion of the sale, the director owned 33,352 shares in the company, valued at approximately $8,842,615.76. This represents a 8.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 148,154 shares of the company's stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $336.67, for a total transaction of $49,879,007.18. Following the completion of the sale, the chief executive officer owned 825,998 shares of the company's stock, valued at approximately $278,088,746.66. This trade represents a 15.21% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have bought 3,550 shares of company stock worth $1,227,869 and have sold 850,112 shares worth $234,654,209. Insiders own 2.00% of the company's stock.

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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