Bar Harbor Wealth Management Takes Position in Broadcom Inc. $AVGO

Bar Harbor Wealth Management acquired a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 12,624 shares of the semiconductor manufacturer's stock, valued at approximately $3,480,000.

Several other large investors have also made changes to their positions in AVGO. Sawyer & Company Inc boosted its holdings in Broadcom by 62.1% during the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock worth $26,000 after buying an additional 36 shares in the last quarter. Legend Financial Advisors Inc. purchased a new stake in Broadcom during the second quarter worth $28,000. Maseco LLP purchased a new stake in Broadcom during the second quarter worth $34,000. PFS Partners LLC boosted its holdings in Broadcom by 38.4% during the second quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer's stock worth $38,000 after buying an additional 38 shares in the last quarter. Finally, Barnes Dennig Private Wealth Management LLC purchased a new stake in Broadcom during the first quarter worth $25,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Trading Up 9.9%

Shares of AVGO opened at $356.70 on Tuesday. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $374.23. The firm has a 50-day moving average price of $323.82 and a 200 day moving average price of $264.90. The firm has a market capitalization of $1.68 trillion, a P/E ratio of 90.99, a P/E/G ratio of 1.80 and a beta of 1.20.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. During the same quarter in the prior year, the firm posted $1.24 earnings per share. Broadcom's quarterly revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. Sell-side analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were issued a $0.59 dividend. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom's dividend payout ratio is currently 60.20%.

Insider Transactions at Broadcom

In other Broadcom news, Director Henry Samueli sold 368,797 shares of the 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 completion of the transaction, the director owned 37,722,534 shares of the company's stock, valued at $12,746,821,463.94. This trade represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Hock E. Tan sold 100,000 shares of the stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $339.58, for a total transaction of $33,958,000.00. Following the transaction, the chief executive officer directly owned 725,638 shares of the company's stock, valued at approximately $246,412,152.04. This trade represents a 12.11% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have bought 3,550 shares of company stock valued at $1,227,869 and have sold 664,471 shares valued at $225,184,128. Company insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AVGO. UBS Group increased their price target on shares of Broadcom from $290.00 to $345.00 and gave the stock a "buy" rating in a report on Monday, August 25th. JPMorgan Chase & Co. upped their price objective on shares of Broadcom from $325.00 to $400.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. Evercore ISI restated an "outperform" rating and set a $342.00 price objective (up from $304.00) on shares of Broadcom in a research report on Thursday, September 4th. Citigroup upped their price objective on shares of Broadcom from $315.00 to $350.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Finally, HSBC upgraded shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price objective for the company in a research report on Tuesday, June 24th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $359.44.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.