Seneca House Advisors Makes New Investment in Broadcom Inc. $AVGO

Key Points

• Seneca House Advisors has acquired 924 shares of Broadcom Inc. (NASDAQ:AVGO), valued at approximately $255,000, marking a new position for the institutional investor in the semiconductor manufacturer.
• Broadcom's stock is currently down by 3.8%, with a market cap of $1.63 trillion and a PE ratio of 88.31, while the latest earnings report showed a revenue of $15.95 billion for the quarter.
• The company has declared a quarterly dividend of $0.59 per share, which will be paid on September 30th, reflecting a 0.7% dividend yield and a payout ratio of 60.20%.

Seneca House Advisors purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 924 shares of the semiconductor manufacturer's stock, valued at approximately $255,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Broadcom by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer's stock worth $79,900,968,000 after acquiring an additional 2,085,534 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Broadcom by 37.8% during 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 purchasing an additional 17,985,046 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Broadcom in the first quarter worth about $6,649,117,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Broadcom by 2.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 35,243,467 shares of the semiconductor manufacturer's stock worth $5,900,814,000 after buying an additional 842,088 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Broadcom by 3.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 33,852,310 shares of the semiconductor manufacturer's stock worth $5,668,134,000 after buying an additional 1,043,948 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Insider Activity

In related news, insider Charlie B. Kawwas sold 3,893 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider directly owned 25,295 shares in the company, valued at approximately $8,798,106.90. The trade was a 13.34% 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 Mark David Brazeal sold 16,558 shares of the business's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total value of $5,755,726.38. Following the sale, the insider owned 329,302 shares of the company's stock, valued at $114,468,668.22. The trade was a 4.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders bought 3,550 shares of company stock valued at $1,227,869 and sold 840,522 shares valued at $236,959,124. Company insiders own 2.00% of the company's stock.

Broadcom Stock Down 0.1%

Shares of AVGO traded down $0.41 during midday trading on Friday, reaching $344.94. 41,147,297 shares of the stock were exchanged, compared to its average volume of 27,762,164. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $374.23. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. The company's 50 day moving average is $308.05 and its two-hundred day moving average is $247.72. The company has a market capitalization of $1.63 trillion, a P/E ratio of 87.99, a PEG ratio of 1.91 and a beta of 1.16.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued 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. The company had revenue of $15.95 billion for the quarter, compared to the consensus estimate of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The firm's revenue for the quarter was up 22.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. On average, sell-side analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current 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 dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Monday, September 22nd. Broadcom's payout ratio is presently 60.20%.

Analyst Upgrades and Downgrades

AVGO has been the topic of several research analyst reports. Wall Street Zen upgraded shares of Broadcom from a "hold" rating to a "buy" rating in a research report on Saturday, September 6th. Cantor Fitzgerald reiterated an "overweight" rating and set a $300.00 price target on shares of Broadcom in a research report on Friday, June 6th. Macquarie began coverage on shares of Broadcom in a report on Monday, September 15th. They issued an "outperform" rating and a $420.00 target price on the stock. Evercore ISI restated an "outperform" rating and issued a $342.00 target price (up previously from $304.00) on shares of Broadcom in a report on Thursday, September 4th. Finally, HSBC upgraded shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 target price on the stock in a report on Tuesday, June 24th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $356.48.

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.