Ballentine Partners LLC Acquires 8,859 Shares of Broadcom Inc. $AVGO

Key Points

• Ballentine Partners LLC increased its holdings in Broadcom Inc. by 9.9%, acquiring 8,859 shares and bringing its total to 98,109 shares worth approximately $27 million.
• Broadcom reported quarterly earnings of $1.69 EPS, exceeding analyst expectations with a revenue of $15.95 billion, showing a year-over-year increase of 22.0%.
• Several brokerage firms have significantly raised their price targets on Broadcom's stock, with new targets reaching as high as $400.00, indicating a strong bullish sentiment among analysts.

Ballentine Partners LLC lifted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 9.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 98,109 shares of the semiconductor manufacturer's stock after acquiring an additional 8,859 shares during the period. Ballentine Partners LLC's holdings in Broadcom were worth $27,044,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in AVGO. Nuveen LLC acquired a new stake in shares of Broadcom in the 1st quarter valued at about $6,649,117,000. Price T Rowe Associates Inc. MD grew 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 buying an additional 17,985,046 shares during the period. GAMMA Investing LLC grew 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 valued at $2,892,548,000 after buying an additional 17,181,652 shares during the period. Goldman Sachs Group Inc. grew 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 valued at $5,333,384,000 after buying an additional 4,550,647 shares during the period. Finally, Deutsche Bank AG grew 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 valued at $2,638,512,000 after buying an additional 4,245,345 shares during the period. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Down 0.5%

Broadcom stock opened at $334.53 on Friday. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $374.23. The firm has a 50 day moving average price of $313.66 and a 200-day moving average price of $252.49. The company has a market capitalization of $1.58 trillion, a P/E ratio of 85.34, a P/E/G ratio of 1.86 and a beta of 1.16. 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 posted 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. The company had revenue of $15.95 billion for the quarter, compared to analysts' expectations of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. Broadcom's revenue was up 22.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. As a group, equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current 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 issued 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 of this dividend is Monday, September 22nd. Broadcom's payout ratio is 60.20%.

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 16,558 shares of the company's 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 transaction, the insider owned 329,302 shares of the company's stock, valued at approximately $114,468,668.22. This represents a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Kirsten M. Spears sold 7,498 shares of the company'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 completion of 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 3,550 shares of company stock worth $1,227,869 and have sold 666,071 shares worth $225,623,008. 2.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on AVGO. Sanford C. Bernstein raised their target price on Broadcom from $295.00 to $400.00 and gave the company an "outperform" rating in a research note on Friday, September 5th. KeyCorp boosted their price objective on Broadcom from $330.00 to $400.00 and gave the stock an "overweight" rating in a report on Friday, September 5th. Cantor Fitzgerald reissued an "overweight" rating and set a $300.00 price objective on shares of Broadcom in a report on Friday, June 6th. UBS Group boosted their price objective on Broadcom from $290.00 to $345.00 and gave the stock a "buy" rating in a report on Monday, August 25th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Broadcom from $300.00 to $350.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $356.48.

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.

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