APG Asset Management US Inc. Has $24.77 Million Holdings in Broadcom Inc. $AVGO

Key Points

• APG Asset Management US Inc. increased its holdings in Broadcom Inc. by 2.2%, now owning 146,978 shares worth approximately $24.77 million.
• Broadcom stock has received several upgrades, with Morgan Stanley setting a price target of $338.00 and a majority of analysts rating it as a "Buy".
• The company's recent quarterly earnings report showed $1.58 EPS, exceeding expectations, and a revenue increase of 20.2% year-over-year.

APG Asset Management US Inc. grew its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 146,978 shares of the semiconductor manufacturer's stock after purchasing an additional 3,143 shares during the period. APG Asset Management US Inc.'s holdings in Broadcom were worth $24,769,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC increased its holdings in Broadcom by 21.8% during the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock worth $6,882,000 after buying an additional 5,322 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Broadcom by 10.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock valued at $1,854,000 after purchasing an additional 756 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its position in shares of Broadcom by 16.4% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 221,199 shares of the semiconductor manufacturer's stock valued at $51,283,000 after acquiring an additional 31,225 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Broadcom in the fourth quarter valued at about $602,000. Finally, Banco Bilbao Vizcaya Argentaria S.A. boosted its position in shares of Broadcom by 3.8% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer's stock valued at $120,070,000 after acquiring an additional 18,845 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AVGO shares. Erste Group Bank raised shares of Broadcom from a "hold" rating to a "buy" rating in a research report on Thursday, June 5th. Morgan Stanley set a $338.00 price objective on shares of Broadcom and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Wall Street Zen raised shares of Broadcom from a "hold" rating to a "buy" rating in a research report on Sunday, August 17th. Cowen reaffirmed a "buy" rating on shares of Broadcom in a research report on Friday, June 6th. Finally, Redburn Atlantic started coverage on shares of Broadcom in a research report on Wednesday, May 28th. They set a "buy" rating and a $301.00 price objective for the company. Three analysts have rated the stock with a Strong Buy rating, twenty-six 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 an average target price of $298.67.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 10,000 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $252.88, for a total transaction of $2,528,800.00. Following the transaction, the insider directly owned 789,784 shares in the company, valued at approximately $199,720,577.92. This trade represents a 1.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hock E. Tan sold 117,758 shares of the firm's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $252.91, for a total value of $29,782,175.78. Following the transaction, the chief executive officer owned 1,014,152 shares in the company, valued at approximately $256,489,182.32. This trade represents a 10.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 830,516 shares of company stock worth $217,286,457. 2.00% of the stock is currently owned by insiders.

Broadcom Price Performance

Broadcom stock opened at $291.0760 on Friday. The stock has a market capitalization of $1.37 trillion, a price-to-earnings ratio of 108.74, a PEG ratio of 2.07 and a beta of 1.15. Broadcom Inc. has a 52-week low of $134.90 and a 52-week high of $317.35. The stock's 50 day moving average price is $281.94 and its two-hundred day moving average price is $231.84. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08.

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

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were issued a $0.59 dividend. 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 (DPR) 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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