Broadcom Inc. $AVGO Shares Bought by Matrix Trust Co

Key Points

• Matrix Trust Co increased its holdings in Broadcom Inc. by 6.1% in the second quarter, acquiring an additional 833 shares, bringing its total to 14,486 shares valued at approximately $3.99 million.
• Analysts have raised their price targets for Broadcom, with Bank of America now setting it at $400.00 and Mizuho at $410.00, both maintaining a "buy" rating for the stock.
• Broadcom announced a quarterly dividend of $0.59 per share, with a record date of September 22nd, representing an annualized yield of 0.7%.

Matrix Trust Co boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 6.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,486 shares of the semiconductor manufacturer's stock after acquiring an additional 833 shares during the quarter. Broadcom comprises 0.6% of Matrix Trust Co's holdings, making the stock its 23rd largest holding. Matrix Trust Co's holdings in Broadcom were worth $3,993,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Nuveen LLC acquired a new stake in shares of Broadcom in the first quarter valued at $6,649,117,000. Price T Rowe Associates Inc. MD grew its stake in shares of Broadcom by 37.8% in the first 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 buying an additional 17,985,046 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Broadcom by 18,179.3% in the first quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer's stock valued at $2,892,548,000 after buying an additional 17,181,652 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Broadcom by 16.7% in the first quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer's stock valued at $5,333,384,000 after buying an additional 4,550,647 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in shares of Broadcom by 36.9% in the first quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer's stock valued at $2,638,512,000 after buying an additional 4,245,345 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on AVGO. Bank of America lifted their target price on Broadcom from $300.00 to $400.00 and gave the company a "buy" rating in a report on Friday, September 5th. Mizuho lifted their target price on Broadcom from $355.00 to $410.00 and gave the company an "outperform" rating in a report on Friday, September 12th. Wall Street Zen upgraded Broadcom from a "hold" rating to a "buy" rating in a report on Saturday, September 6th. Benchmark lifted their target price on Broadcom from $315.00 to $385.00 and gave the company a "buy" rating in a report on Friday, September 5th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $300.00 target price on shares of Broadcom in a report on Friday, June 6th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $356.48.

Broadcom Stock Performance

NASDAQ AVGO opened at $338.79 on Tuesday. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. The business's 50 day moving average is $309.32 and its two-hundred day moving average is $249.20. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $374.23. The stock has a market capitalization of $1.60 trillion, a price-to-earnings ratio of 86.43, a PEG ratio of 1.91 and a beta of 1.16.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, topping 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 company had revenue of $15.95 billion for the quarter, compared to analysts' expectations of $15.82 billion. During the same quarter in the previous year, the firm posted $1.24 EPS. The firm's quarterly revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. Research analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The firm 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. The ex-dividend date is Monday, September 22nd. This represents a $2.36 annualized dividend and a yield of 0.7%. Broadcom's payout ratio is presently 60.20%.

Insider Activity at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 148,154 shares of the business's stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $336.67, for a total transaction of $49,879,007.18. Following the transaction, the chief executive officer owned 825,998 shares in the company, valued at approximately $278,088,746.66. The trade was a 15.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 16,558 shares of the business'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 transaction, the insider owned 329,302 shares in the company, valued at $114,468,668.22. The trade was a 4.79% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have acquired 3,550 shares of company stock worth $1,227,869 and have sold 714,172 shares worth $204,311,160. Company insiders own 2.00% of the company's stock.

Broadcom Company 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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