Boltwood Capital Management Acquires 843 Shares of Broadcom Inc. $AVGO

Key Points

• Boltwood Capital Management increased its holdings in Broadcom Inc. by 34.9% during Q2, acquiring an additional 843 shares, bringing their total to 3,256 shares worth approximately $898,000.
• Broadcom reported a 22% year-over-year revenue increase, with a revenue of $15.95 billion and an EPS of $1.69, exceeding analysts' expectations.
• The company announced a quarterly dividend of $0.59 per share, with an ex-dividend date set for September 22nd, representing an annual yield of 0.7%.

Boltwood Capital Management increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 34.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,256 shares of the semiconductor manufacturer's stock after buying an additional 843 shares during the period. Boltwood Capital Management's holdings in Broadcom were worth $898,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of AVGO. Waddell & Associates LLC grew its holdings in Broadcom by 2.1% during the first quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer's stock valued at $350,000 after purchasing an additional 43 shares during the period. Challenger Wealth Management grew its holdings in Broadcom by 1.3% during the first quarter. Challenger Wealth Management now owns 3,504 shares of the semiconductor manufacturer's stock valued at $587,000 after purchasing an additional 45 shares during the period. True Wealth Design LLC grew its holdings in Broadcom by 7.2% during the fourth quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock valued at $165,000 after purchasing an additional 48 shares during the period. Wescott Financial Advisory Group LLC grew its holdings in Broadcom by 3.8% during the first quarter. Wescott Financial Advisory Group LLC now owns 1,326 shares of the semiconductor manufacturer's stock valued at $222,000 after purchasing an additional 48 shares during the period. Finally, Martingale Asset Management L P grew its holdings in Broadcom by 1.3% during the first quarter. Martingale Asset Management L P now owns 3,876 shares of the semiconductor manufacturer's stock valued at $649,000 after purchasing an additional 48 shares during the period. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Performance

Shares of AVGO opened at $359.87 on Monday. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $374.23. The firm has a fifty day simple moving average of $300.31 and a 200 day simple moving average of $242.50. The stock has a market capitalization of $1.70 trillion, a price-to-earnings ratio of 91.80, a PEG ratio of 1.99 and a beta of 1.16. 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 (NASDAQ:AVGO - Get Free Report) last announced its 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 net margin of 31.59% and a return on equity of 36.60%. The business had revenue of $15.95 billion during the quarter, compared to analysts' expectations of $15.82 billion. During the same quarter in the prior year, the company posted $1.24 earnings per share. The firm's revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. Research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

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

Insider Buying and Selling at Broadcom

In related news, Director Henry Samueli sold 473,898 shares of the stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the completion of the transaction, the director owned 38,188,575 shares in the company, valued at approximately $10,132,574,604.75. This represents a 1.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 50,000 shares of the stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $253.28, for a total transaction of $12,664,000.00. Following the transaction, the insider owned 415,956 shares of the company's stock, valued at $105,353,335.68. The trade was a 10.73% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have acquired 3,550 shares of company stock valued at $1,227,869 and have sold 850,112 shares valued at $234,654,209. Company insiders own 2.00% of the company's stock.

Analyst Ratings Changes

AVGO has been the subject of a number of analyst reports. Sanford C. Bernstein boosted their price objective on shares of Broadcom from $295.00 to $400.00 and gave the company an "outperform" rating in a report on Friday, September 5th. Wells Fargo & Company boosted their price objective on shares of Broadcom from $255.00 to $345.00 and gave the company an "equal weight" rating in a report on Friday, September 5th. Cowen restated a "buy" rating on shares of Broadcom in a report on Friday, June 6th. KeyCorp upped their price target on shares of Broadcom from $330.00 to $400.00 and gave the company an "overweight" rating in a report on Friday, September 5th. Finally, Evercore ISI reiterated an "outperform" rating and issued a $342.00 price target (up previously from $304.00) on shares of Broadcom in a report on Thursday, September 4th. Three research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $354.04.

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.

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