Redwood Investment Management LLC Has $1.30 Million Stock Holdings in Broadcom Inc. $AVGO

Key Points

• Redwood Investment Management LLC increased its holdings in Broadcom Inc. by 35.9%, acquiring a total of 7,748 shares valued at approximately $1.3 million.
• Analysts have raised their target prices for Broadcom, with Barclays setting a new target of $265 and Oppenheimer raising it to $305, reflecting strong market confidence in the stock.
• Recently, Broadcom declared a quarterly dividend of $0.59 per share, contributing to an annualized dividend yield of 0.8%.

Redwood Investment Management LLC boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 35.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,748 shares of the semiconductor manufacturer's stock after acquiring an additional 2,048 shares during the quarter. Redwood Investment Management LLC's holdings in Broadcom were worth $1,297,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AVGO. Brighton Jones LLC raised its position in shares of Broadcom by 21.8% in the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock valued at $6,882,000 after purchasing an additional 5,322 shares during the period. Revolve Wealth Partners LLC raised its position in shares of Broadcom by 10.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock valued at $1,854,000 after purchasing an additional 756 shares during the period. Bank Pictet & Cie Europe AG raised its position in shares of Broadcom by 16.4% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 221,199 shares of the semiconductor manufacturer's stock valued at $51,283,000 after purchasing an additional 31,225 shares during the period. Renaissance Technologies LLC bought a new position in shares of Broadcom in the fourth quarter valued at about $602,000. Finally, Evergreen Wealth Solutions LLC bought a new position in shares of Broadcom in the fourth quarter valued at about $757,000. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Down 3.6%

Shares of Broadcom stock traded down $11.26 during trading on Friday, reaching $297.39. 21,581,160 shares of the company traded hands, compared to its average volume of 17,621,516. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. Broadcom Inc. has a 1-year low of $134.90 and a 1-year high of $317.35. The company has a 50 day moving average price of $287.74 and a 200-day moving average price of $234.67. The firm has a market capitalization of $1.40 trillion, a PE ratio of 111.38, a P/E/G ratio of 2.11 and a beta of 1.15.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.57 by $0.01. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The company had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.98 billion. During the same quarter in the previous year, the company earned $10.96 EPS. Broadcom's quarterly revenue was up 20.2% compared to the same quarter last year. Broadcom has set its Q3 2025 guidance at EPS. As a group, equities research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, June 20th. Broadcom's payout ratio is presently 88.39%.

Insider Activity at Broadcom

In related news, CEO Hock E. Tan sold 117,758 shares of the business's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $252.91, for a total transaction of $29,782,175.78. Following the transaction, the chief executive officer owned 1,014,152 shares in the company, valued at $256,489,182.32. The trade was a 10.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Henry Samueli sold 473,898 shares of the business's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the transaction, the director owned 38,188,575 shares in the company, valued at $10,132,574,604.75. The trade was a 1.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 830,516 shares of company stock worth $217,286,457 over the last ninety days. 2.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AVGO. KeyCorp increased their price objective on shares of Broadcom from $315.00 to $330.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Morgan Stanley set a $338.00 price target on shares of Broadcom and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Piper Sandler upped their price target on shares of Broadcom from $300.00 to $315.00 and gave the company an "overweight" rating in a research note on Friday, August 22nd. Mizuho upped their price target on shares of Broadcom from $315.00 to $320.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Finally, UBS Group upped their price target on shares of Broadcom from $290.00 to $345.00 and gave the company a "buy" rating in a research note on Monday, August 25th. Three analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Broadcom has a consensus rating of "Buy" and a consensus price target of $301.79.

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.