Broadcom Inc. $AVGO Position Increased by Shell Asset Management Co.

Key Points

• Shell Asset Management Co. increased its holdings in Broadcom Inc. by 31.6% during Q2, making Broadcom its 6th largest position, valued at approximately $61.3 million.
• Insider Mark David Brazeal and Director Henry Samueli sold significant shares of Broadcom, totaling over $130 million combined, with corporate insiders having sold a total of 664,471 shares in the last three months.
• Broadcom reported earnings of $1.69 EPS in its last quarter, exceeding estimates, and raised analysts' price targets for the stock to an average of $357.22.

Shell Asset Management Co. lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 31.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 222,466 shares of the semiconductor manufacturer's stock after acquiring an additional 53,449 shares during the quarter. Broadcom accounts for about 2.1% of Shell Asset Management Co.'s investment portfolio, making the stock its 6th biggest position. Shell Asset Management Co.'s holdings in Broadcom were worth $61,323,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Sawyer & Company Inc raised its holdings in shares of Broadcom by 62.1% during the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock valued at $26,000 after buying an additional 36 shares during the last quarter. PFS Partners LLC raised its holdings in shares of Broadcom by 38.4% during the second quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer's stock valued at $38,000 after buying an additional 38 shares during the last quarter. Waddell & Associates LLC raised its holdings in shares of Broadcom by 2.1% during 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 during the last quarter. Luts & Greenleigh Group Inc. raised its holdings in shares of Broadcom by 1.3% during the second quarter. Luts & Greenleigh Group Inc. now owns 3,405 shares of the semiconductor manufacturer's stock valued at $939,000 after buying an additional 44 shares during the last quarter. Finally, Challenger Wealth Management raised its holdings in shares of 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 during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Broadcom news, insider Mark David Brazeal sold 16,558 shares of the company's stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total value of $5,755,726.38. Following the transaction, the insider owned 329,302 shares of the company's stock, valued at approximately $114,468,668.22. This represents a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Henry Samueli sold 368,797 shares of Broadcom stock in a transaction that occurred on Wednesday, September 24th. The stock was 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 in the company, valued at approximately $12,746,821,463.94. The trade was a 0.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have purchased 3,550 shares of company stock valued at $1,227,869 and have sold 664,471 shares valued at $225,184,128. Corporate insiders own 2.00% of the company's stock.

Broadcom Price Performance

NASDAQ AVGO opened at $324.63 on Monday. The stock has a market capitalization of $1.53 trillion, a P/E ratio of 82.81, a P/E/G ratio of 1.80 and a beta of 1.20. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $374.23. The business's fifty day moving average is $322.64 and its two-hundred day moving average is $263.58. 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 posted its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) 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 analysts' expectations of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The firm's revenue was up 22.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. On average, research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. UBS Group lifted their price target on Broadcom from $290.00 to $345.00 and gave the company a "buy" rating in a report on Monday, August 25th. Mizuho lifted their price target on Broadcom from $355.00 to $410.00 and gave the company an "outperform" rating in a report on Friday, September 12th. Oppenheimer reissued an "outperform" rating and set a $360.00 target price (up previously from $325.00) on shares of Broadcom in a report on Friday, September 5th. Deutsche Bank Aktiengesellschaft boosted their target price on Broadcom from $300.00 to $350.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Finally, Evercore ISI reissued an "outperform" rating and set a $342.00 target price (up previously from $304.00) on shares of Broadcom in a report on Thursday, September 4th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $357.22.

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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