Broadcom Inc. $AVGO Shares Bought by Means Investment CO. Inc.

Key Points

• Means Investment CO. Inc. increased its stake in Broadcom by 18.4% during the second quarter, purchasing an additional 3,194 shares, bringing its total shares owned to 20,555, valued at $5,666,000.
• Broadcom reported an EPS of $1.69 for the last quarter, exceeding expectations, with revenue of $15.95 billion, representing a 22% year-over-year increase.
• The company also announced a quarterly dividend of $0.59 per share, translating to an annualized dividend of $2.36, with a yield of 0.7%.

Means Investment CO. Inc. raised its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 18.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,555 shares of the semiconductor manufacturer's stock after buying an additional 3,194 shares during the quarter. Means Investment CO. Inc.'s holdings in Broadcom were worth $5,666,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Sawyer & Company Inc lifted its position in shares of Broadcom by 62.1% during the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock worth $26,000 after purchasing an additional 36 shares in the last quarter. Legend Financial Advisors Inc. acquired a new stake in shares of Broadcom during the second quarter worth about $28,000. Maseco LLP acquired a new stake in shares of Broadcom during the second quarter worth about $34,000. PFS Partners LLC lifted its position in shares of Broadcom by 38.4% during the second quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer's stock worth $38,000 after purchasing an additional 38 shares in the last quarter. Finally, Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Broadcom during the first quarter worth about $25,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $349.33 on Friday. The company's fifty day moving average price is $327.73 and its 200 day moving average price is $268.57. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $374.23. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. The firm has a market capitalization of $1.65 trillion, a P/E ratio of 89.11, a P/E/G ratio of 1.99 and a beta of 1.20.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly 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. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The firm had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. During the same period last year, the business earned $1.24 EPS. Broadcom's revenue for the quarter was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. As a group, sell-side analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AVGO. Evercore ISI increased their price target on shares of Broadcom from $342.00 to $403.00 and gave the stock an "outperform" rating in a research report on Wednesday. HSBC upgraded shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price target for the company in a report on Tuesday, June 24th. Piper Sandler increased their price objective on shares of Broadcom from $315.00 to $375.00 and gave the company an "overweight" rating in a research report on Friday, September 5th. Truist Financial increased 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. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $360.00 price target (up from $325.00) on shares of Broadcom in a report on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Broadcom currently has an average rating of "Buy" and a consensus price target of $372.33.

Insider Buying and Selling at Broadcom

In other news, CFO Kirsten M. Spears sold 7,498 shares of the firm's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the transaction, the chief financial officer directly owned 313,330 shares in the company, valued at approximately $108,932,307.80. This trade represents a 2.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Hock E. Tan sold 148,154 shares of the firm'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. This trade represents a 15.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders bought 3,550 shares of company stock valued at $1,227,869 and sold 665,271 shares valued at $225,464,248. 2.00% of the stock is currently owned by insiders.

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.

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