Almanack Investment Partners LLC. Takes Position in Broadcom Inc. $AVGO

Key Points

• Almanack Investment Partners LLC acquired a new stake in Broadcom Inc. worth approximately $240,000 by purchasing 869 shares during the second quarter.
• Recent analyst reports show a consensus rating of "Buy" for Broadcom, with multiple price targets including $415.00 from UBS Group and $400.00 from Rosenblatt Securities.
• Broadcom reported a 22% year-over-year increase in revenue for the last quarter, with earnings per share of $1.69, beating analyst expectations.

Almanack Investment Partners LLC. purchased a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 869 shares of the semiconductor manufacturer's stock, valued at approximately $240,000.

A number of other hedge funds also recently made changes to their positions in AVGO. PARUS FINANCE UK Ltd boosted its position in Broadcom by 175.3% during the 1st quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer's stock worth $16,840,000 after buying an additional 64,038 shares during the period. Geneos Wealth Management Inc. boosted its position in Broadcom by 27.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 64,130 shares of the semiconductor manufacturer's stock worth $10,737,000 after buying an additional 13,978 shares during the period. Asio Capital LLC boosted its position in Broadcom by 2.0% during the 2nd quarter. Asio Capital LLC now owns 54,459 shares of the semiconductor manufacturer's stock worth $15,012,000 after buying an additional 1,089 shares during the period. Keener Financial Planning LLC boosted its position in Broadcom by 34.8% during the 1st quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer's stock worth $149,000 after buying an additional 230 shares during the period. Finally, Diversify Wealth Management LLC boosted its position in Broadcom by 5.6% during the 1st quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer's stock worth $6,365,000 after buying an additional 2,016 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AVGO has been the topic of several recent research reports. UBS Group set a $415.00 target price on shares of Broadcom and gave the stock a "buy" rating in a research report on Tuesday. The Goldman Sachs Group restated a "buy" rating and issued a $340.00 price target on shares of Broadcom in a research report on Wednesday, August 13th. Rosenblatt Securities boosted their price target 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. Hsbc Global Res upgraded shares of Broadcom from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, June 24th. Finally, Benchmark boosted their price target on shares of Broadcom from $315.00 to $385.00 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-nine have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $372.33.

Broadcom Stock Performance

NASDAQ:AVGO opened at $349.33 on Friday. The company has a fifty day moving average of $327.73 and a 200-day moving average of $269.24. The firm has a market capitalization of $1.65 trillion, a P/E ratio of 89.11, a P/E/G ratio of 1.97 and a beta of 1.20. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $374.23.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.03. The company had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. Broadcom's revenue for the quarter was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. As a group, sell-side analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were paid 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 was Monday, September 22nd. Broadcom's payout ratio is 60.20%.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 16,558 shares of the business's stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the completion of the sale, the insider owned 329,302 shares in the company, valued at approximately $114,468,668.22. The trade was a 4.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 100,000 shares of the business's stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $339.58, for a total transaction of $33,958,000.00. Following the sale, the chief executive officer owned 725,638 shares of the company's stock, valued at $246,412,152.04. This trade represents a 12.11% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 3,550 shares of company stock worth $1,227,869 and have sold 665,271 shares worth $225,464,248. Company insiders own 2.00% of the company's stock.

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.

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.