BOCHK Asset Management Ltd Invests $689,000 in Broadcom Inc. $AVGO

Key Points

• BOCHK Asset Management Ltd invested approximately $689,000 in Broadcom Inc. during the second quarter, acquiring 2,500 shares, which constitutes about 0.2% of its total holdings.
• Several hedge funds have also increased their positions in Broadcom, with Sawyer & Company Inc growing its stake by 62.1%, indicating strong institutional interest in the semiconductor manufacturer.
• Analysts have raised their price targets for Broadcom, with Bank of America setting a new price objective of $400, while the overall average target price is now $357.22.

BOCHK Asset Management Ltd purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,500 shares of the semiconductor manufacturer's stock, valued at approximately $689,000. Broadcom makes up approximately 0.2% of BOCHK Asset Management Ltd's holdings, making the stock its 15th biggest holding.

Other hedge funds have also made changes to their positions in the company. Sawyer & Company Inc grew its position in shares of 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. acquired a new stake in shares of Broadcom during the second quarter worth approximately $28,000. Maseco LLP acquired a new stake in shares of Broadcom during the second quarter worth approximately $34,000. PFS Partners LLC grew its position in shares of 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 acquired a new stake in shares of Broadcom during the first quarter worth approximately $25,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Analysts Set New Price Targets

AVGO has been the topic of several research analyst reports. Bank of America raised their price objective on Broadcom from $300.00 to $400.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. The Goldman Sachs Group restated a "buy" rating and set a $340.00 price objective on shares of Broadcom in a research note on Wednesday, August 13th. Hsbc Global Res upgraded Broadcom from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 24th. Citigroup raised their price objective on Broadcom from $315.00 to $350.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Broadcom from $300.00 to $350.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Three investment analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Broadcom presently has an average rating of "Buy" and an average target price of $357.22.

Insider Activity

In related news, insider Mark David Brazeal sold 16,558 shares of Broadcom stock in a transaction dated Wednesday, September 17th. The stock was 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 trade represents a 4.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 3,893 shares of Broadcom stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total value of $1,354,063.26. Following the completion of the transaction, the insider directly owned 25,295 shares in the company, valued at $8,798,106.90. This represents a 13.34% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 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 currently owned by insiders.

Broadcom Price Performance

NASDAQ:AVGO opened at $338.37 on Monday. The business's 50-day moving average price is $318.43 and its 200 day moving average price is $258.24. The firm has a market cap of $1.60 trillion, a P/E ratio of 86.32, a PEG ratio of 1.87 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 earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.66 by $0.03. The firm had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.Broadcom's revenue was up 22.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.24 earnings per share. 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 fiscal year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were issued 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 was Monday, September 22nd. Broadcom's payout ratio is presently 60.20%.

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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