130,000 Shares in Broadcom Inc. $AVGO Purchased by Appaloosa LP

Key Points

• Appaloosa LP has acquired a new stake in Broadcom Inc. (NASDAQ: AVGO), purchasing 130,000 shares valued at approximately $21.77 million in the first quarter.
• A significant number of institutional investors have increased their holdings in Broadcom, with PARUS FINANCE UK Ltd growing its position by 175.3% to own over 100,000 shares.
• Broadcom's recent quarterly earnings exceeded analyst expectations, reporting $1.58 EPS on revenues of $15 billion, marking a 20.2% increase year-over-year.

Appaloosa LP acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 130,000 shares of the semiconductor manufacturer's stock, valued at approximately $21,766,000.

A number of other hedge funds have also recently added to or reduced their stakes in AVGO. Nuveen LLC acquired a new position in Broadcom during the 1st quarter valued at approximately $6,649,117,000. Price T Rowe Associates Inc. MD raised its stake in 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 valued at $10,968,270,000 after acquiring an additional 17,985,046 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Broadcom by 18,179.3% in the 1st quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer's stock worth $2,892,548,000 after buying an additional 17,181,652 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Broadcom by 16.7% in 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 buying an additional 4,550,647 shares in the last quarter. Finally, Deutsche Bank AG raised its stake in shares of Broadcom by 36.9% in the 1st quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer's stock worth $2,638,512,000 after buying an additional 4,245,345 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on AVGO shares. Wells Fargo & Company boosted their price objective on Broadcom from $255.00 to $345.00 and gave the stock an "equal weight" rating in a research report on Friday. Barclays upped their price target on Broadcom from $265.00 to $400.00 and gave the company an "overweight" rating in a report on Friday. HSBC raised Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price target for the company in a report on Tuesday, June 24th. Truist Financial upped their price target on Broadcom from $295.00 to $365.00 and gave the company a "buy" rating in a report on Friday. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and issued a $340.00 price target on shares of Broadcom in a report on Wednesday, August 13th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Broadcom currently has a consensus rating of "Buy" and an average price target of $351.00.

Broadcom Stock Up 9.4%

Shares of NASDAQ AVGO traded up $28.79 during trading on Friday, hitting $334.89. 78,318,626 shares of the company traded hands, compared to its average volume of 20,932,260. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. Broadcom Inc. has a fifty-two week low of $134.90 and a fifty-two week high of $356.34. The firm has a market capitalization of $1.58 trillion, a price-to-earnings ratio of 85.43, a P/E/G ratio of 2.38 and a beta of 1.16. The business's fifty day moving average is $292.09 and its 200 day moving average is $237.38.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.03. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The business had revenue of $15.95 billion for the quarter, compared to analysts' expectations of $15.82 billion. During the same period in the prior year, the company posted $1.24 EPS. The business's revenue for the quarter was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. Equities research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently announced 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. The ex-dividend date is Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom's dividend payout ratio is currently 60.20%.

Insider Activity

In other news, CEO Hock E. Tan sold 117,758 shares of the 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 sale, the chief executive officer owned 1,014,152 shares of the company's stock, valued at approximately $256,489,182.32. This represents a 10.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark David Brazeal sold 50,000 shares of the stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $253.28, for a total transaction of $12,664,000.00. Following the completion of the sale, the insider directly owned 415,956 shares in the company, valued at approximately $105,353,335.68. This represents a 10.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 830,516 shares of company stock valued at $217,286,457 in the last quarter. Company insiders own 2.00% of the company's stock.

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.