Broadcom Inc. $AVGO Stock Position Raised by Atticus Wealth Management LLC

Key Points

• Atticus Wealth Management LLC increased its stake in Broadcom Inc. by 142.6% during the second quarter, bringing its total holdings to approximately $1.90 million.
• Broadcom reported earnings of $1.69 per share for the last quarter, exceeding analysts' expectations and reflecting a 22.0% increase in revenue year-over-year.
• The company's quarterly dividend of $0.59 per share will be paid on September 30, with an annualized yield of 0.7%.

Atticus Wealth Management LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 142.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,873 shares of the semiconductor manufacturer's stock after purchasing an additional 4,040 shares during the quarter. Atticus Wealth Management LLC's holdings in Broadcom were worth $1,895,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of AVGO. Sawyer & Company Inc lifted its position in shares of Broadcom by 62.1% in the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock valued at $26,000 after acquiring an additional 36 shares in the last quarter. Sunbeam Capital Management LLC purchased a new stake in shares of Broadcom during the fourth quarter worth about $28,000. Vermillion Wealth Management Inc. acquired a new position in shares of Broadcom in the fourth quarter valued at approximately $30,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Broadcom during the first quarter valued at approximately $25,000. Finally, Cheviot Value Management LLC purchased a new position in shares of Broadcom during the 1st quarter worth $25,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AVGO has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on Broadcom from $300.00 to $350.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Macquarie began coverage on shares of Broadcom in a report on Monday, September 15th. They issued an "outperform" rating and a $420.00 target price for the company. Redburn Atlantic began coverage on shares of Broadcom in a research note on Wednesday, May 28th. They set a "buy" rating and a $301.00 price target on the stock. TD Cowen boosted their price objective on shares of Broadcom from $355.00 to $370.00 and gave the company a "buy" rating in a research note on Friday, September 5th. Finally, Morgan Stanley upped their price objective on Broadcom from $338.00 to $357.00 and gave the stock an "overweight" rating in a report on Tuesday, September 2nd. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Broadcom currently has an average rating of "Buy" and an average price target of $356.48.

Broadcom Stock Down 1.4%

Shares of NASDAQ AVGO traded down $4.91 during trading on Monday, reaching $339.44. 16,399,772 shares of the stock were exchanged, compared to its average volume of 26,399,619. The company has a market capitalization of $1.60 trillion, a price-to-earnings ratio of 86.76, a price-to-earnings-growth ratio of 1.91 and a beta of 1.16. The business's 50-day moving average price is $308.05 and its 200 day moving average price is $248.20. 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 Inc. has a twelve month low of $138.10 and a twelve month high of $374.23.

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 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 analysts' expectations of $15.82 billion. During the same quarter in the previous year, the firm posted $1.24 earnings per share. The company's revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. As a group, equities analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

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

Insider Transactions at Broadcom

In other news, CFO Kirsten M. Spears sold 7,498 shares of the stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the transaction, the chief financial officer owned 313,330 shares of the company's stock, valued at approximately $108,932,307.80. This trade represents a 2.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Harry L. You acquired 500 shares of the stock in a transaction that occurred on Wednesday, September 10th. The stock was purchased at an average cost of $363.38 per share, with a total value of $181,690.00. Following the completion of the acquisition, the director owned 35,602 shares of the company's stock, valued at $12,937,054.76. The trade was a 1.42% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 3,550 shares of company stock valued at $1,227,869 and sold 790,522 shares valued at $224,295,124. Insiders own 2.00% of the company's stock.

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.