Connective Portfolio Management LLC boosted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 93.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,295 shares of the semiconductor manufacturer's stock after purchasing an additional 4,000 shares during the quarter. Broadcom comprises 4.8% of Connective Portfolio Management LLC's portfolio, making the stock its 7th largest position. Connective Portfolio Management LLC's holdings in Broadcom were worth $2,240,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of the stock. Waddell & Associates LLC grew 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 purchasing an additional 43 shares during the period. Challenger Wealth Management lifted its position 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 buying an additional 45 shares in the last quarter. Martingale Asset Management L P lifted its position 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 buying an additional 48 shares in the last quarter. Wescott Financial Advisory Group LLC lifted its position 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 buying an additional 48 shares in the last quarter. Finally, Monterey Private Wealth Inc. lifted its position in Broadcom by 1.8% during 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. 76.43% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Broadcom
In other news, insider Mark David Brazeal sold 50,000 shares of the firm's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $253.28, for a total transaction of $12,664,000.00. Following the completion of the transaction, the insider owned 415,956 shares in the company, valued at approximately $105,353,335.68. This trade represents a 10.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Hock E. Tan sold 148,154 shares of the firm's stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $336.67, for a total transaction of $49,879,007.18. Following the transaction, the chief executive officer owned 825,998 shares of the company's stock, valued at approximately $278,088,746.66. This trade represents a 15.21% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 3,550 shares of company stock worth $1,227,869 and have sold 793,802 shares worth $220,478,166. 2.00% of the stock is currently owned by corporate insiders.
Broadcom Stock Down 1.1%
Broadcom stock opened at $360.00 on Wednesday. The company has a 50-day simple moving average of $303.88 and a 200-day simple moving average of $244.46. The firm has a market capitalization of $1.70 trillion, a P/E ratio of 91.84, a P/E/G ratio of 2.01 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. 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 31.59% and a return on equity of 36.60%. Broadcom's revenue was up 22.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. As a group, equities analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.
Broadcom Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 22nd will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Monday, September 22nd. Broadcom's dividend payout ratio is currently 60.20%.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on AVGO shares. Citigroup lifted their price target on shares of Broadcom from $315.00 to $350.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $300.00 price target on shares of Broadcom in a research report on Friday, June 6th. Erste Group Bank raised shares of Broadcom from a "hold" rating to a "buy" rating in a research report on Thursday, June 5th. Mizuho boosted their target price on shares of Broadcom from $355.00 to $410.00 and gave the stock an "outperform" rating in a research report on Friday, September 12th. Finally, 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 report on Friday, June 6th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $356.48.
Check Out Our Latest Stock Report on AVGO
About Broadcom
(
Free Report)
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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