Broadcom Inc. $AVGO is Congress Asset Management Co.'s 9th Largest Position

Key Points

• Congress Asset Management Co. increased its holdings in Broadcom Inc. by 24.7% in Q2, making it the fund's 9th largest position, with shares valued at $203.4 million.
• Several institutional investors have also raised their stakes in Broadcom, with ownership by institutional investors reaching 76.43% of the stock.
• Analysts recently upgraded Broadcom’s price target to as high as $400, reflecting a positive outlook for the stock amidst strong quarterly performance.

Congress Asset Management Co. raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 24.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 737,729 shares of the semiconductor manufacturer's stock after purchasing an additional 146,128 shares during the quarter. Broadcom accounts for approximately 1.4% of Congress Asset Management Co.'s investment portfolio, making the stock its 9th largest holding. Congress Asset Management Co.'s holdings in Broadcom were worth $203,355,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in AVGO. Brighton Jones LLC lifted its position in shares of Broadcom by 21.8% during the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock worth $6,882,000 after purchasing an additional 5,322 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in shares of Broadcom by 10.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock worth $1,854,000 after purchasing an additional 756 shares during the last quarter. Cerro Pacific Wealth Advisors LLC lifted its position in shares of Broadcom by 3.2% during the first quarter. Cerro Pacific Wealth Advisors LLC now owns 19,138 shares of the semiconductor manufacturer's stock worth $3,204,000 after purchasing an additional 601 shares during the last quarter. Burr Financial Services LLC lifted its position in shares of Broadcom by 30.7% during the first quarter. Burr Financial Services LLC now owns 31,419 shares of the semiconductor manufacturer's stock worth $5,260,000 after purchasing an additional 7,382 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC lifted its position in shares of Broadcom by 15.8% during the first quarter. Fifth Third Wealth Advisors LLC now owns 111,475 shares of the semiconductor manufacturer's stock worth $18,664,000 after purchasing an additional 15,178 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Hock E. Tan sold 148,154 shares of the business's stock in a transaction dated 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 sale, the chief executive officer owned 825,998 shares in the company, valued at approximately $278,088,746.66. The trade was a 15.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kirsten M. Spears sold 7,498 shares of the business's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total value of $2,606,754.68. Following the sale, the chief financial officer owned 313,330 shares in the company, valued at $108,932,307.80. The trade was a 2.34% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders purchased 3,550 shares of company stock valued at $1,227,869 and sold 666,071 shares valued at $225,623,008. Company insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on AVGO shares. Sanford C. Bernstein lifted their price objective on Broadcom from $295.00 to $400.00 and gave the company an "outperform" rating in a report on Friday, September 5th. TD Cowen lifted their price objective on Broadcom from $355.00 to $370.00 and gave the company a "buy" rating in a report on Friday, September 5th. Rosenblatt Securities lifted their price objective on Broadcom from $340.00 to $400.00 and gave the company a "buy" rating in a report on Friday, September 5th. Cantor Fitzgerald restated an "overweight" rating and issued a $300.00 price objective on shares of Broadcom in a report on Friday, June 6th. Finally, Barclays lifted their price objective on Broadcom from $265.00 to $400.00 and gave the company an "overweight" rating in a report on Friday, September 5th. Three investment 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $356.48.

Broadcom Stock Performance

Shares of Broadcom stock opened at $334.53 on Monday. The company has a market capitalization of $1.58 trillion, a PE ratio of 85.34, a P/E/G ratio of 1.85 and a beta of 1.16. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. The company has a 50-day simple moving average of $313.66 and a two-hundred day simple moving average of $253.32. Broadcom Inc. has a one year low of $138.10 and a one year high of $374.23.

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 analysts' consensus estimates of $1.66 by $0.03. The business had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The firm's revenue was up 22.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. Research analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

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

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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