Asset Allocation & Management Company LLC raised its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 12.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,098 shares of the semiconductor manufacturer's stock after acquiring an additional 908 shares during the quarter. Broadcom makes up about 1.0% of Asset Allocation & Management Company LLC's investment portfolio, making the stock its 16th largest holding. Asset Allocation & Management Company LLC's holdings in Broadcom were worth $2,232,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in AVGO. Nuveen LLC acquired a new stake in Broadcom in the first quarter valued at $6,649,117,000. Price T Rowe Associates Inc. MD lifted its stake in Broadcom by 37.8% in the first 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 during the last quarter. Goldman Sachs Group Inc. lifted its stake in Broadcom by 16.7% in the first quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer's stock valued at $5,333,384,000 after acquiring an additional 4,550,647 shares during the last quarter. Deutsche Bank AG lifted its stake in Broadcom by 36.9% in the first quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer's stock valued at $2,638,512,000 after acquiring an additional 4,245,345 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its stake in Broadcom by 16.0% in the first quarter. Alliancebernstein L.P. now owns 29,513,814 shares of the semiconductor manufacturer's stock valued at $4,941,498,000 after acquiring an additional 4,077,910 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have commented on the stock. Sanford C. Bernstein increased their price target on shares of Broadcom from $295.00 to $400.00 and gave the company an "outperform" rating in a research note on Friday, September 5th. Piper Sandler increased their price objective on shares of Broadcom from $315.00 to $375.00 and gave the company an "overweight" rating in a research report on Friday, September 5th. Morgan Stanley increased their price objective on shares of Broadcom from $338.00 to $357.00 and gave the company an "overweight" rating in a research report on Tuesday, September 2nd. Truist Financial increased their price objective on shares of Broadcom from $295.00 to $365.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Finally, Citigroup increased their price objective on shares of Broadcom from $315.00 to $350.00 and gave the company a "buy" rating in a research report 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. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $356.48.
Check Out Our Latest Stock Analysis on Broadcom
Broadcom Price Performance
NASDAQ:AVGO opened at $327.90 on Tuesday. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $374.23. The firm has a market cap of $1.55 trillion, a price-to-earnings ratio of 83.65, a P/E/G ratio of 1.85 and a beta of 1.16. The firm's 50-day simple moving average is $314.46 and its 200 day simple moving average is $254.25. 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 (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping analysts' consensus estimates 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 analyst estimates of $15.82 billion. During the same period last year, the firm earned $1.24 earnings per share. Broadcom'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. As a group, sell-side analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.
Broadcom Dividend Announcement
The firm also recently declared 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. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Monday, September 22nd. Broadcom's dividend payout ratio (DPR) is currently 60.20%.
Insider Buying and Selling at Broadcom
In related news, Director Henry Samueli sold 368,797 shares of the firm's stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $337.91, for a total transaction of $124,620,194.27. Following the transaction, the director directly owned 37,722,534 shares of the company's stock, valued at approximately $12,746,821,463.94. This trade represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark David Brazeal sold 16,558 shares of the firm's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the transaction, the insider directly owned 329,302 shares in the company, valued at approximately $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. In the last quarter, insiders purchased 3,550 shares of company stock valued at $1,227,869 and sold 666,071 shares valued at $225,623,008. 2.00% of the stock is owned by insiders.
About Broadcom
(
Free Report)
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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