The Manufacturers Life Insurance Company Buys 64,720 Shares of Broadcom Inc. $AVGO

Key Points

• The Manufacturers Life Insurance Company has increased its holdings in Broadcom Inc. by 1.4%, owning over 4.5 million shares valued at approximately $759 million.
• Analysts have shown bullish sentiments on Broadcom, with multiple upgrades and a consensus price target of $301.79, reflecting strong expectations for the stock's performance.
• Broadcom announced a quarterly dividend of $0.59 per share, resulting in an annualized dividend of $2.36 with a yield of 0.8%.

The Manufacturers Life Insurance Company increased its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,533,085 shares of the semiconductor manufacturer's stock after acquiring an additional 64,720 shares during the quarter. Broadcom accounts for approximately 0.7% of The Manufacturers Life Insurance Company's portfolio, making the stock its 20th largest position. The Manufacturers Life Insurance Company owned approximately 0.10% of Broadcom worth $759,028,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Nuveen LLC bought a new stake in Broadcom during the 1st quarter valued at $6,649,117,000. Price T Rowe Associates Inc. MD increased its stake in Broadcom by 37.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer's stock valued at $10,968,270,000 after purchasing an additional 17,985,046 shares in the last quarter. GAMMA Investing LLC increased its stake in Broadcom by 18,179.3% during the 1st quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer's stock valued at $2,892,548,000 after purchasing an additional 17,181,652 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Broadcom by 16.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer's stock valued at $5,333,384,000 after purchasing an additional 4,550,647 shares in the last quarter. Finally, Deutsche Bank AG boosted its holdings in Broadcom by 36.9% during the 1st 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 during the last quarter. Institutional investors own 76.43% of the company's stock.

Insiders Place Their Bets

In other Broadcom news, CEO Hock E. Tan sold 117,758 shares of Broadcom stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $252.91, for a total value of $29,782,175.78. Following the sale, the chief executive officer owned 1,014,152 shares of the company's stock, 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 SEC, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 10,000 shares of Broadcom stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $252.88, for a total value of $2,528,800.00. Following the completion of the sale, the insider directly owned 789,784 shares in the company, valued at approximately $199,720,577.92. The trade was a 1.25% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 830,516 shares of company stock valued at $217,286,457. 2.00% of the stock is currently owned by company insiders.

Broadcom Price Performance

Shares of AVGO stock traded down $11.26 during trading on Monday, hitting $297.39. The company had a trading volume of 21,581,160 shares, compared to its average volume of 17,630,644. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. The stock's 50-day moving average is $287.74 and its two-hundred day moving average is $234.66. The stock has a market capitalization of $1.40 trillion, a price-to-earnings ratio of 111.38, a price-to-earnings-growth ratio of 2.11 and a beta of 1.16. Broadcom Inc. has a 52 week low of $134.90 and a 52 week high of $317.35.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $1.57 by $0.01. Broadcom had a return on equity of 35.49% and a net margin of 22.64%.The firm had revenue of $15 billion during the quarter, compared to analyst estimates of $14.98 billion. During the same quarter in the prior year, the firm posted $10.96 earnings per share. The business'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, analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom's dividend payout ratio (DPR) is presently 88.39%.

Analysts Set New Price Targets

AVGO has been the topic of a number of analyst reports. Cowen reaffirmed a "buy" rating on shares of Broadcom in a report on Friday, June 6th. Hsbc Global Res raised shares of Broadcom from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 24th. Wall Street Zen downgraded shares of Broadcom from a "buy" rating to a "hold" rating in a report on Monday, August 25th. Oppenheimer reissued an "outperform" rating and issued a $325.00 price target (up from $305.00) on shares of Broadcom in a report on Thursday. Finally, Benchmark boosted their price target on shares of Broadcom from $255.00 to $315.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Broadcom currently has an average rating of "Buy" and an average price target of $301.79.

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.