Asio Capital LLC Raises Holdings in Broadcom Inc. $AVGO

Key Points

• Asio Capital LLC increased its stake in Broadcom Inc. by 2.0% during the 2nd quarter, now holding 54,459 shares valued at approximately $15 million, making it the firm's 6th largest investment.
• Several other institutional investors, including Vanguard Group and Price T Rowe Associates, have also raised their holdings, demonstrating a growing interest in Broadcom.
• Broadcom's CFO recently sold 7,498 shares, indicating a 2.34% decrease in their ownership, amidst a backdrop of insider selling totaling over 666,000 shares worth approximately $225 million over the past three months.

Asio Capital LLC grew its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,459 shares of the semiconductor manufacturer's stock after purchasing an additional 1,089 shares during the period. Broadcom makes up about 2.5% of Asio Capital LLC's portfolio, making the stock its 6th biggest position. Asio Capital LLC's holdings in Broadcom were worth $15,012,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted 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 valued at $79,900,968,000 after purchasing an additional 2,085,534 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Broadcom by 37.8% in 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 purchasing an additional 17,985,046 shares during the last quarter. Nuveen LLC bought a new stake in shares of Broadcom in the 1st quarter valued at approximately $6,649,117,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Broadcom by 2.4% in the 1st 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 valued at $5,900,814,000 after purchasing an additional 842,088 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Broadcom by 3.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,852,310 shares of the semiconductor manufacturer's stock valued at $5,668,134,000 after purchasing an additional 1,043,948 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Insider Activity at Broadcom

In other Broadcom news, CFO Kirsten M. Spears sold 7,498 shares of the firm's stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the transaction, the chief financial officer directly owned 313,330 shares in the company, valued at $108,932,307.80. This trade represents a 2.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mark David Brazeal sold 16,558 shares of Broadcom stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total value of $5,755,726.38. Following the completion of the transaction, the insider owned 329,302 shares in the company, valued at $114,468,668.22. This represents a 4.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders bought 3,550 shares of company stock worth $1,227,869 and sold 666,071 shares worth $225,623,008. Company insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. HSBC raised Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price objective for the company in a research note on Tuesday, June 24th. Evercore ISI reaffirmed an "outperform" rating and issued a $342.00 price objective (up from $304.00) on shares of Broadcom in a research note on Thursday, September 4th. Oppenheimer reaffirmed an "outperform" rating and issued a $360.00 price objective (up from $325.00) on shares of Broadcom in a research note on Friday, September 5th. Mizuho increased their price target on Broadcom from $355.00 to $410.00 and gave the stock an "outperform" rating in a report on Friday, September 12th. Finally, Argus increased their price target on Broadcom from $285.00 to $375.00 and gave the stock a "buy" rating in a report on Monday, September 8th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $357.22.

Broadcom Trading Up 1.4%

AVGO opened at $338.18 on Friday. The stock's fifty day moving average is $317.47 and its two-hundred day moving average is $256.30. The company has a market capitalization of $1.60 trillion, a P/E ratio of 86.27, a PEG ratio of 1.85 and a beta of 1.20. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $374.23. 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 (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping the consensus estimate 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%.Broadcom's quarterly revenue was up 22.0% on a year-over-year basis. During the same period last year, the business posted $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. Analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date was Monday, September 22nd. Broadcom's dividend payout ratio (DPR) is presently 60.20%.

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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