Broadcom Inc. $AVGO is Highland Capital Management LLC's 3rd Largest Position

Key Points

• Highland Capital Management reduced its position in Broadcom Inc. by 4.7%, now holding approximately 245,273 shares, which constitutes about 3.7% of its portfolio, making it the firm's 3rd largest position.
• Institutional investors collectively own 76.43% of Broadcom, with several firms, including Price T Rowe Associates and Deutsche Bank, significantly increasing their stakes in the company during the first quarter.
• Broadcom reported earnings of $1.69 per share, surpassing analyst estimates, along with a revenue of $15.95 billion for the quarter, representing a 22% year-over-year increase.

Highland Capital Management LLC reduced its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 245,273 shares of the semiconductor manufacturer's stock after selling 12,120 shares during the period. Broadcom makes up approximately 3.7% of Highland Capital Management LLC's portfolio, making the stock its 3rd largest position. Highland Capital Management LLC's holdings in Broadcom were worth $67,610,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AVGO. Nuveen LLC acquired a new position in Broadcom during the first quarter worth about $6,649,117,000. Price T Rowe Associates Inc. MD grew its position in Broadcom by 37.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer's stock worth $10,968,270,000 after buying an additional 17,985,046 shares during the period. Goldman Sachs Group Inc. grew its position in Broadcom by 16.7% during the first quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer's stock worth $5,333,384,000 after buying an additional 4,550,647 shares during the period. Deutsche Bank AG grew its position in Broadcom by 36.9% during the first quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer's stock worth $2,638,512,000 after buying an additional 4,245,345 shares during the period. Finally, Alliancebernstein L.P. grew its position in Broadcom by 16.0% during the first quarter. Alliancebernstein L.P. now owns 29,513,814 shares of the semiconductor manufacturer's stock worth $4,941,498,000 after buying an additional 4,077,910 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on AVGO shares. Truist Financial upped their target price on shares of Broadcom from $295.00 to $365.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Broadcom from $300.00 to $350.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Macquarie initiated coverage on shares of Broadcom in a research report on Monday, September 15th. They issued an "outperform" rating and a $420.00 price target on the stock. Arete Research upgraded shares of Broadcom to a "strong-buy" rating in a research report on Monday, July 28th. Finally, HSBC upgraded shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price target on the stock in a research report on Tuesday, June 24th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $357.22.

Insider Activity

In other Broadcom news, Director Henry Samueli sold 368,797 shares of the stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $337.91, for a total transaction of $124,620,194.27. Following the transaction, the director owned 37,722,534 shares of the company's stock, valued at $12,746,821,463.94. This trade represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kirsten M. Spears sold 7,498 shares of Broadcom stock in a transaction on Wednesday, September 17th. The shares were 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. This trade represents a 2.34% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 3,550 shares of company stock valued at $1,227,869 and have sold 666,071 shares valued at $225,623,008. 2.00% of the stock is owned by insiders.

Broadcom Stock Down 0.1%

Shares of NASDAQ AVGO opened at $345.02 on Friday. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $374.23. The firm's 50 day moving average price is $321.92 and its 200 day moving average price is $261.43. The firm has a market cap of $1.63 trillion, a P/E ratio of 88.02, a price-to-earnings-growth ratio of 1.91 and a beta of 1.20. 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 (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, topping analysts' consensus estimates of $1.66 by $0.03. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The firm had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. During the same quarter last year, the business earned $1.24 earnings per share. Broadcom's revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. As a group, sell-side analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were given a dividend of $0.59 per share. The ex-dividend date was Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a 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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