Broadcom Inc. $AVGO Shares Bought by Graypoint LLC

Key Points

• Graypoint LLC increased its stake in Broadcom Inc. by 1.8% during the second quarter, owning 58,499 shares valued at $16.1 million.
• CEO Hock E. Tan sold 100,000 shares for approximately $33.96 million, reducing his ownership by 12.11%.
• Broadcom's shares have a market cap of $1.58 trillion and have recently reached price targets above $400, with a consensus price target of $356.48 from analysts.

Graypoint LLC grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58,499 shares of the semiconductor manufacturer's stock after purchasing an additional 1,042 shares during the quarter. Broadcom makes up about 0.9% of Graypoint LLC's holdings, making the stock its 26th biggest position. Graypoint LLC's holdings in Broadcom were worth $16,125,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AVGO. Brighton Jones LLC raised its holdings in Broadcom by 21.8% during the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock worth $6,882,000 after purchasing an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Broadcom by 10.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock valued at $1,854,000 after acquiring an additional 756 shares during the period. Central Pacific Bank Trust Division increased its holdings in shares of Broadcom by 20.5% in the 1st quarter. Central Pacific Bank Trust Division now owns 25,260 shares of the semiconductor manufacturer's stock valued at $4,229,000 after acquiring an additional 4,305 shares during the period. Baring Financial LLC acquired a new position in shares of Broadcom in the 1st quarter valued at $213,000. Finally, Moody National Bank Trust Division increased its holdings in shares of Broadcom by 2.3% in the 1st quarter. Moody National Bank Trust Division now owns 60,320 shares of the semiconductor manufacturer's stock valued at $10,099,000 after acquiring an additional 1,333 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Insiders Place Their Bets

In related news, CEO Hock E. Tan sold 100,000 shares of the business's stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $339.58, for a total value of $33,958,000.00. Following the sale, the chief executive officer directly owned 725,638 shares in the company, valued at $246,412,152.04. The trade was a 12.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Henry Samueli sold 368,797 shares of the business's stock in a transaction dated 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 completion of the sale, the director owned 37,722,534 shares in the company, valued at $12,746,821,463.94. This represents a 0.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 3,550 shares of company stock worth $1,227,869 and sold 666,071 shares worth $225,623,008. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $334.53 on Friday. The firm has a market capitalization of $1.58 trillion, a P/E ratio of 85.34, a PEG ratio of 1.86 and a beta of 1.16. Broadcom Inc. has a one year low of $138.10 and a one year high of $374.23. The company's fifty day moving average is $313.66 and its two-hundred day moving average is $252.49. 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 issued its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping the consensus estimate of $1.66 by $0.03. The company had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The business's revenue was up 22.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. Analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Monday, September 22nd. Broadcom's payout ratio is presently 60.20%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on AVGO shares. Hsbc Global Res raised shares of Broadcom from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 24th. Rosenblatt Securities lifted their target price on shares of Broadcom from $340.00 to $400.00 and gave the company a "buy" rating in a report on Friday, September 5th. Sanford C. Bernstein lifted their price objective on shares of Broadcom from $295.00 to $400.00 and gave the company an "outperform" rating in a research report on Friday, September 5th. TD Cowen lifted their price objective on shares of Broadcom from $355.00 to $370.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Finally, Truist Financial lifted their price objective on shares of Broadcom from $295.00 to $365.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $356.48.

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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