Broadcom Inc. $AVGO is Harrell Investment Partners LLC's Largest Position

Key Points

• Harrell Investment Partners LLC significantly increased its stake in Broadcom, now owning 7.4% of its portfolio in the company, valued at approximately $29.2 million.
• Several analysts upgraded Broadcom's stock price targets recently, with Barclays raising it from $265 to $400, reflecting overall strong market confidence as the stock maintains a consensus rating of "Buy".
• Broadcom recently announced a quarterly dividend of $0.59 per share, indicating a commitment to returning value to shareholders amid solid financial performance, including a net margin of 31.59%.

Harrell Investment Partners LLC grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 13.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 105,902 shares of the semiconductor manufacturer's stock after acquiring an additional 12,462 shares during the period. Broadcom comprises 7.4% of Harrell Investment Partners LLC's investment portfolio, making the stock its biggest position. Harrell Investment Partners LLC's holdings in Broadcom were worth $29,192,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of AVGO. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Broadcom during the 1st quarter valued at approximately $25,000. Cheviot Value Management LLC bought a new position in shares of Broadcom during the 1st quarter valued at approximately $25,000. Inlight Wealth Management LLC bought a new position in Broadcom in the 1st quarter worth approximately $26,000. Sawyer & Company Inc boosted its holdings in Broadcom by 62.1% in the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock worth $26,000 after buying an additional 36 shares during the period. Finally, Wood Tarver Financial Group LLC boosted its holdings in Broadcom by 342.5% in the 1st quarter. Wood Tarver Financial Group LLC now owns 177 shares of the semiconductor manufacturer's stock worth $30,000 after buying an additional 137 shares during the period. 76.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on AVGO shares. Barclays raised their price objective on shares of Broadcom from $265.00 to $400.00 and gave the stock an "overweight" rating in a report on Friday, September 5th. Argus raised their price objective on shares of Broadcom from $285.00 to $375.00 and gave the stock a "buy" rating in a report on Monday, September 8th. Hsbc Global Res raised shares of Broadcom from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 24th. Evercore ISI reaffirmed an "outperform" rating and issued a $342.00 price objective (up from $304.00) on shares of Broadcom in a report on Thursday, September 4th. Finally, Benchmark raised their price objective on shares of Broadcom from $315.00 to $385.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $356.48.

Insider Activity

In other news, insider Mark David Brazeal sold 16,558 shares of the firm's stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the sale, the insider owned 329,302 shares in the company, valued at approximately $114,468,668.22. This trade represents a 4.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Kirsten M. Spears sold 7,498 shares of Broadcom stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the completion of the transaction, the chief financial officer owned 313,330 shares in the company, valued at approximately $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 90 days, insiders have bought 3,550 shares of company stock worth $1,227,869 and have sold 666,071 shares worth $225,623,008. Corporate insiders own 2.00% of the company's stock.

Broadcom Stock Down 0.5%

Shares of NASDAQ:AVGO opened at $334.53 on Friday. The firm has a fifty day moving average price of $313.66 and a two-hundred day moving average price of $252.49. 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 company has a market cap of $1.58 trillion, a price-to-earnings ratio of 85.34, a PEG ratio of 1.86 and a beta of 1.16. 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 posted its quarterly earnings data 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 firm had revenue of $15.95 billion for the quarter, compared to analysts' expectations of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The business's quarterly revenue was up 22.0% on a year-over-year basis. During the same quarter last year, the company posted $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. Analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal 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 given a dividend of $0.59 per share. The ex-dividend date is Monday, September 22nd. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Broadcom's dividend payout ratio (DPR) is 60.20%.

Broadcom Company 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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