Broadcom Inc. $AVGO Stock Position Lifted by Bridgeway Capital Management LLC

Key Points

• Bridgeway Capital Management LLC increased its stake in Broadcom Inc. by 6.9% during Q1, acquiring an additional 9,887 shares, bringing its total holdings to 152,653 shares valued at approximately $25.6 million.
• Several hedge funds have significantly boosted their positions in Broadcom, with notable purchases including Nuveen LLC's $6.65 billion investment and Price T Rowe Associates increasing its holdings by 37.8% during the same period.
• Analysts are optimistic about Broadcom’s stock, with a consensus rating of "Buy" and a target price set at $302.58, reflecting positive sentiment about the company's performance and potential growth.

Bridgeway Capital Management LLC lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 6.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 152,653 shares of the semiconductor manufacturer's stock after purchasing an additional 9,887 shares during the period. Broadcom comprises approximately 0.6% of Bridgeway Capital Management LLC's investment portfolio, making the stock its 9th largest holding. Bridgeway Capital Management LLC's holdings in Broadcom were worth $25,559,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. PARUS FINANCE UK Ltd raised its stake in shares of Broadcom by 175.3% during the 1st quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer's stock worth $16,840,000 after purchasing an additional 64,038 shares during the period. Keener Financial Planning LLC raised its stake in shares of Broadcom by 34.8% during the 1st quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer's stock worth $149,000 after purchasing an additional 230 shares during the period. Diversify Wealth Management LLC raised its stake in shares of Broadcom by 5.6% during the 1st quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer's stock worth $6,365,000 after purchasing an additional 2,016 shares during the period. OMNI 360 Wealth Inc. raised its stake in Broadcom by 51.6% in the 1st quarter. OMNI 360 Wealth Inc. now owns 2,980 shares of the semiconductor manufacturer's stock valued at $499,000 after acquiring an additional 1,014 shares during the period. Finally, Gamco Investors INC. ET AL raised its stake in Broadcom by 1.3% in the 1st quarter. Gamco Investors INC. ET AL now owns 54,406 shares of the semiconductor manufacturer's stock valued at $9,109,000 after acquiring an additional 700 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on AVGO. Deutsche Bank Aktiengesellschaft boosted their price objective on Broadcom from $300.00 to $350.00 and gave the company a "buy" rating in a research note on Friday. Benchmark upped their target price on Broadcom from $315.00 to $385.00 and gave the stock a "buy" rating in a research note on Friday. Citigroup upped their target price on Broadcom from $315.00 to $350.00 and gave the stock a "buy" rating in a research note on Friday. UBS Group upped their target price on Broadcom from $290.00 to $345.00 and gave the stock a "buy" rating in a research note on Monday, August 25th. Finally, Redburn Atlantic initiated coverage on Broadcom in a research note on Wednesday, May 28th. They issued a "buy" rating and a $301.00 target price for the company. Three investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Broadcom presently has an average rating of "Buy" and an average price target of $351.00.

Insider Buying and Selling

In related news, CFO Kirsten M. Spears sold 36,350 shares of Broadcom stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $261.27, for a total value of $9,497,164.50. Following the completion of the sale, the chief financial officer directly owned 325,587 shares in the company, valued at approximately $85,066,115.49. This trade represents a 10.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Justine Page sold 800 shares of Broadcom stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $307.46, for a total value of $245,968.00. Following the completion of the sale, the director owned 23,782 shares of the company's stock, valued at $7,312,013.72. The trade was a 3.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 830,516 shares of company stock worth $217,286,457 in the last three months. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Up 9.4%

Shares of Broadcom stock traded up $28.79 during trading on Friday, hitting $334.89. The company's stock had a trading volume of 78,318,626 shares, compared to its average volume of 17,635,120. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08. The company has a fifty day simple moving average of $292.09 and a two-hundred day simple moving average of $237.25. The company has a market capitalization of $1.58 trillion, a PE ratio of 85.43, a P/E/G ratio of 2.17 and a beta of 1.16. Broadcom Inc. has a 52 week low of $134.90 and a 52 week high of $356.34.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.03. The firm had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a return on equity of 37.17% and a net margin of 31.59%.Broadcom's quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. Equities research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, September 22nd. Broadcom's payout ratio is currently 88.39%.

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.