Broadcom Inc. $AVGO is Bay Rivers Group's Largest Position

Key Points

• Broadcom Inc. is the largest position for Bay Rivers Group, which holds 56,662 shares valued at approximately $15.6 million, despite a 1.9% decrease in their stake during the second quarter.
• The company reported favorable earnings with $1.69 EPS, surpassing estimates, and a year-over-year revenue increase of 22%, totaling $15.95 billion.
• Broadcom has announced a quarterly dividend of $0.59 per share, indicating a 0.7% yield and a dividend payout ratio of 60.20%.

Bay Rivers Group decreased its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 56,662 shares of the semiconductor manufacturer's stock after selling 1,081 shares during the period. Broadcom comprises 7.1% of Bay Rivers Group's investment portfolio, making the stock its biggest position. Bay Rivers Group's holdings in Broadcom were worth $15,619,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Waddell & Associates LLC increased its holdings in Broadcom by 2.1% in the first quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer's stock valued at $350,000 after buying an additional 43 shares in the last quarter. Challenger Wealth Management increased its holdings in Broadcom by 1.3% in the first quarter. Challenger Wealth Management now owns 3,504 shares of the semiconductor manufacturer's stock valued at $587,000 after buying an additional 45 shares in the last quarter. Martingale Asset Management L P increased its holdings in Broadcom by 1.3% in the first quarter. Martingale Asset Management L P now owns 3,876 shares of the semiconductor manufacturer's stock valued at $649,000 after buying an additional 48 shares in the last quarter. Wescott Financial Advisory Group LLC increased its holdings in Broadcom by 3.8% in the first quarter. Wescott Financial Advisory Group LLC now owns 1,326 shares of the semiconductor manufacturer's stock valued at $222,000 after buying an additional 48 shares in the last quarter. Finally, Monterey Private Wealth Inc. increased its holdings in Broadcom by 1.8% in the first quarter. Monterey Private Wealth Inc. now owns 2,780 shares of the semiconductor manufacturer's stock valued at $465,000 after buying an additional 48 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom Stock Performance

NASDAQ:AVGO opened at $360.00 on Wednesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. The firm has a market capitalization of $1.70 trillion, a price-to-earnings ratio of 91.84, a PEG ratio of 2.01 and a beta of 1.16. The company's 50-day moving average is $303.88 and its two-hundred day moving average is $244.46. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $374.23.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.03. The company had revenue of $15.95 billion for the quarter, compared to analyst estimates 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 period in the previous year, the business posted $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. Analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

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

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 50,000 shares of the company's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $253.28, for a total value of $12,664,000.00. Following the transaction, the insider directly owned 415,956 shares in the company, valued at approximately $105,353,335.68. This represents a 10.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 148,154 shares of the company's stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $336.67, for a total transaction of $49,879,007.18. Following the completion of the transaction, the chief executive officer owned 825,998 shares in the company, valued at approximately $278,088,746.66. This represents a 15.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 3,550 shares of company stock worth $1,227,869 and sold 793,802 shares worth $220,478,166. 2.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of research reports. Rosenblatt Securities boosted their target price on shares of Broadcom from $340.00 to $400.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. The Goldman Sachs Group reissued a "buy" rating and set a $340.00 target price on shares of Broadcom in a research note on Wednesday, August 13th. Benchmark boosted their target price on shares of Broadcom from $315.00 to $385.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Susquehanna boosted their target price on shares of Broadcom from $280.00 to $300.00 and gave the stock a "positive" rating in a research note on Friday, June 6th. Finally, Argus boosted their target price on shares of Broadcom from $285.00 to $375.00 and gave the stock a "buy" rating in a research note on Monday, September 8th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $356.48.

Broadcom 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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