Broadcom Inc. $AVGO Shares Acquired by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System grew its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 223,974 shares of the semiconductor manufacturer's stock after acquiring an additional 8,549 shares during the quarter. Broadcom comprises approximately 1.4% of Maryland State Retirement & Pension System's investment portfolio, making the stock its 10th biggest position. Maryland State Retirement & Pension System's holdings in Broadcom were worth $61,738,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Sawyer & Company Inc increased its stake in shares of 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 acquiring an additional 36 shares during the last quarter. PFS Partners LLC grew its holdings in shares of Broadcom by 38.4% during the 2nd quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer's stock worth $38,000 after purchasing an additional 38 shares during the period. Waddell & Associates LLC grew its holdings in shares of Broadcom by 2.1% during the 1st quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer's stock worth $350,000 after purchasing an additional 43 shares during the period. Luts & Greenleigh Group Inc. grew its holdings in shares of Broadcom by 1.3% during the 2nd quarter. Luts & Greenleigh Group Inc. now owns 3,405 shares of the semiconductor manufacturer's stock worth $939,000 after purchasing an additional 44 shares during the period. Finally, Challenger Wealth Management grew its holdings in shares of Broadcom by 1.3% during the 1st quarter. Challenger Wealth Management now owns 3,504 shares of the semiconductor manufacturer's stock worth $587,000 after purchasing an additional 45 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Performance

Shares of AVGO opened at $356.70 on Tuesday. The stock has a 50-day simple moving average of $323.82 and a 200-day simple moving average of $264.90. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. The stock has a market capitalization of $1.68 trillion, a PE ratio of 90.99, a PEG 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.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $15.95 billion during 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 business's quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. On average, analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, September 22nd. Broadcom's dividend payout ratio (DPR) is presently 60.20%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AVGO. Bank of America increased their price target on Broadcom from $300.00 to $400.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Weiss Ratings cut Broadcom from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, October 8th. Rosenblatt Securities increased their price target on Broadcom from $340.00 to $400.00 and gave the stock a "buy" rating in a report on Friday, September 5th. JPMorgan Chase & Co. increased their price target on Broadcom from $325.00 to $400.00 and gave the stock an "overweight" rating in a report on Friday, September 5th. Finally, Piper Sandler increased their price target on Broadcom from $315.00 to $375.00 and gave the stock an "overweight" rating in a report on Friday, September 5th. Three 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 company's stock. According to MarketBeat.com, Broadcom currently has an average rating of "Buy" and an average price target of $359.44.

Insiders Place Their Bets

In other news, insider Charlie B. Kawwas sold 3,893 shares of Broadcom stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total value of $1,354,063.26. Following the completion of the transaction, the insider owned 25,295 shares in the company, valued at approximately $8,798,106.90. This trade represents a 13.34% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kirsten M. Spears sold 7,498 shares of Broadcom stock in a transaction dated 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 transaction, the chief financial officer owned 313,330 shares of the company's stock, valued at $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 ninety days, insiders have bought 3,550 shares of company stock worth $1,227,869 and have sold 664,471 shares worth $225,184,128. 2.00% of the stock is owned by corporate insiders.

Broadcom 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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