Ridgeline Wealth Planning LLC bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the second quarter, according to its most recent filing with the SEC. The fund bought 904 shares of the semiconductor manufacturer's stock, valued at approximately $249,000.
A number of other hedge funds also recently made changes to their positions in AVGO. Nuveen LLC bought a new stake in shares of Broadcom during the 1st quarter worth $6,649,117,000. Price T Rowe Associates Inc. MD raised its stake in shares of Broadcom by 37.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer's stock worth $10,968,270,000 after purchasing an additional 17,985,046 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Broadcom by 16.7% during the 1st 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 period. Deutsche Bank AG raised its stake 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 worth $2,638,512,000 after purchasing an additional 4,245,345 shares during the period. Finally, Alliancebernstein L.P. raised its stake in shares of Broadcom by 16.0% during the 1st quarter. Alliancebernstein L.P. now owns 29,513,814 shares of the semiconductor manufacturer's stock worth $4,941,498,000 after purchasing an additional 4,077,910 shares during the period. 76.43% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Broadcom
In other news, CEO Hock E. Tan sold 148,154 shares of the business's stock in a transaction dated 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 owned 825,998 shares of the company's stock, valued at approximately $278,088,746.66. The trade was a 15.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 3,893 shares of the business's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total value of $1,354,063.26. Following the transaction, the insider directly owned 25,295 shares of the company's stock, valued at $8,798,106.90. The trade was a 13.34% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 3,550 shares of company stock worth $1,227,869 and have sold 664,471 shares worth $225,184,128. 2.00% of the stock is owned by corporate insiders.
Broadcom Stock Up 2.1%
AVGO stock opened at $351.33 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 firm has a market capitalization of $1.66 trillion, a PE ratio of 89.63, a PEG ratio of 1.91 and a beta of 1.20. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $374.23. The stock has a 50-day simple moving average of $325.83 and a two-hundred day simple moving average of $266.04.
Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results 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. The business had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The company's quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. On average, equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.
Broadcom Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders 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 payout ratio is presently 60.20%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on the company. UBS Group set a $415.00 target price on Broadcom and gave the stock a "buy" rating in a research note on Tuesday. Oppenheimer reiterated an "outperform" rating and set a $360.00 target price (up from $325.00) on shares of Broadcom in a research note on Friday, September 5th. Benchmark lifted their price objective on Broadcom from $315.00 to $385.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Argus lifted their price objective on Broadcom from $285.00 to $375.00 and gave the stock a "buy" rating in a report on Monday, September 8th. Finally, Sanford C. Bernstein lifted their price objective on Broadcom from $295.00 to $400.00 and gave the stock an "outperform" rating in a report on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $372.33.
Get Our Latest Stock Analysis on Broadcom
About Broadcom
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGO - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Broadcom, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Broadcom wasn't on the list.
While Broadcom currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
