Broadcom Inc. $AVGO Shares Acquired by Brown Miller Wealth Management LLC

Key Points

• Brown Miller Wealth Management LLC increased its stake in Broadcom Inc. by 18.4% during the second quarter, bringing their total holdings to 23,155 shares worth approximately $6.38 million.
• Institutional investors now own a substantial 76.43% of Broadcom's stock, with multiple firms like Nuveen LLC and Price T Rowe Associates significantly raising their positions.
• Broadcom reported earnings of $1.69 EPS for the last quarter, surpassing expectations, while analysts maintain a consensus rating of "Buy" with an average price target of $357.22.

Brown Miller Wealth Management LLC boosted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 18.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,155 shares of the semiconductor manufacturer's stock after purchasing an additional 3,602 shares during the quarter. Broadcom comprises 2.0% of Brown Miller Wealth Management LLC's investment portfolio, making the stock its 5th biggest position. Brown Miller Wealth Management LLC's holdings in Broadcom were worth $6,383,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Nuveen LLC acquired a new position in Broadcom during the first quarter worth about $6,649,117,000. Price T Rowe Associates Inc. MD raised its stake 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 acquiring an additional 17,985,046 shares in the last quarter. Goldman Sachs Group Inc. raised its stake 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 acquiring an additional 4,550,647 shares in the last quarter. Deutsche Bank AG raised its stake 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 acquiring an additional 4,245,345 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake 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 acquiring an additional 4,077,910 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

AVGO has been the subject of several research analyst reports. Evercore ISI reissued an "outperform" rating and set a $342.00 target price (up previously from $304.00) on shares of Broadcom in a research note on Thursday, September 4th. KeyCorp reissued an "overweight" rating and set a $420.00 target price (up previously from $400.00) on shares of Broadcom in a research note on Tuesday, September 30th. Oppenheimer reissued an "outperform" rating and set a $360.00 target price (up previously from $325.00) on shares of Broadcom in a research note on Friday, September 5th. TD Cowen boosted their price target on Broadcom from $355.00 to $370.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Finally, Wells Fargo & Company boosted their price target on Broadcom from $255.00 to $345.00 and gave the stock an "equal weight" rating in a report on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $357.22.

Insiders Place Their Bets

In related news, insider Mark David Brazeal sold 16,558 shares of the company's stock in a transaction that occurred 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 sale, the insider directly owned 329,302 shares in the company, valued at $114,468,668.22. This represents a 4.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Kirsten M. Spears sold 7,498 shares of the company's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total value of $2,606,754.68. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over 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. Insiders own 2.00% of the company's stock.

Broadcom Stock Performance

Shares of AVGO stock opened at $345.02 on Friday. The business's 50 day simple moving average is $321.92 and its 200 day simple moving average is $261.43. Broadcom Inc. has a one year low of $138.10 and a one year high of $374.23. The stock has a market capitalization of $1.63 trillion, a PE ratio of 88.02, a PEG ratio of 1.91 and a beta of 1.20. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37.

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, beating the consensus estimate of $1.66 by $0.03. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The business had revenue of $15.95 billion for the quarter, compared to analysts' expectations of $15.82 billion. During the same period in the prior year, the business posted $1.24 earnings per share. The firm's revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. As a group, research analysts forecast 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 was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were issued a $0.59 dividend. The ex-dividend date was Monday, September 22nd. This represents a $2.36 annualized dividend and a yield of 0.7%. Broadcom's dividend payout ratio is presently 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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