Argent Capital Management LLC Boosts Position in Broadcom Inc. $AVGO

Key Points

• Argent Capital Management LLC increased its stake in Broadcom Inc. by 0.3%, acquiring an additional 1,305 shares during the second quarter, bringing their total holdings to 379,526 shares valued at $104.6 million.
• Broadcom's stock has seen several upgrades from analysts, with target prices now reaching as high as $400, reflecting strong growth expectations and a consensus rating of "Buy."
• The company announced a quarterly dividend of $0.59 per share, representing an annualized yield of 0.7% and a payout ratio of 60.20%.

Argent Capital Management LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 0.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 379,526 shares of the semiconductor manufacturer's stock after acquiring an additional 1,305 shares during the quarter. Broadcom makes up 3.0% of Argent Capital Management LLC's investment portfolio, making the stock its 6th largest position. Argent Capital Management LLC's holdings in Broadcom were worth $104,616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of AVGO. Brighton Jones LLC grew its position in Broadcom by 21.8% during the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock worth $6,882,000 after acquiring an additional 5,322 shares during the last quarter. Revolve Wealth Partners LLC grew its position in shares of Broadcom by 10.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock worth $1,854,000 after buying an additional 756 shares during the last quarter. Copia Wealth Management bought a new stake in shares of Broadcom in the 4th quarter worth approximately $194,000. Mattson Financial Services LLC grew its position in shares of Broadcom by 1,110.8% in the 4th quarter. Mattson Financial Services LLC now owns 17,460 shares of the semiconductor manufacturer's stock worth $4,048,000 after buying an additional 16,018 shares during the last quarter. Finally, Capstone Triton Financial Group LLC grew its position in shares of Broadcom by 1.5% in the 4th quarter. Capstone Triton Financial Group LLC now owns 5,873 shares of the semiconductor manufacturer's stock worth $1,362,000 after buying an additional 87 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AVGO. Deutsche Bank Aktiengesellschaft lifted their price objective on Broadcom from $300.00 to $350.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Wells Fargo & Company lifted 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, September 5th. HSBC upgraded Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price objective on the stock in a research report on Tuesday, June 24th. Evercore ISI restated an "outperform" rating and issued a $342.00 target price (up previously from $304.00) on shares of Broadcom in a research note on Thursday, September 4th. Finally, Citigroup raised their target price on Broadcom from $315.00 to $350.00 and gave the company a "buy" rating in a research note on Friday, September 5th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $356.48.

Broadcom Stock Up 0.1%

Shares of NASDAQ:AVGO opened at $339.31 on Thursday. 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 stock has a fifty day simple moving average of $311.64 and a two-hundred day simple moving average of $250.44. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $374.23. The stock has a market capitalization of $1.60 trillion, a price-to-earnings ratio of 86.56, a PEG ratio of 1.87 and a beta of 1.16.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping the consensus estimate of $1.66 by $0.03. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The business had revenue of $15.95 billion for the quarter, compared to the consensus estimate of $15.82 billion. During the same period in the previous year, the company posted $1.24 earnings per share. The company'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. On average, research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, September 22nd. Broadcom's payout ratio is 60.20%.

Insiders Place Their Bets

In other Broadcom news, insider Charlie B. Kawwas sold 3,893 shares of the business's stock in a transaction on 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 sale, the insider directly owned 25,295 shares of the company's stock, valued at approximately $8,798,106.90. The trade was a 13.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kirsten M. Spears sold 7,498 shares of the company's stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total value of $2,606,754.68. Following the transaction, the chief financial officer directly owned 313,330 shares in the company, valued at approximately $108,932,307.80. The trade was a 2.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 3,550 shares of company stock valued at $1,227,869 and sold 197,274 shares valued at $67,044,814. 2.00% of the stock is owned by insiders.

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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