Broadcom Inc. $AVGO is Panagora Asset Management Inc.'s 10th Largest Position

Key Points

• Panagora Asset Management Inc. increased its stake in Broadcom Inc. (NASDAQ:AVGO) by 92.8% in Q1, bringing its total shares to approximately 1.55 million, valued at nearly $259.8 million.
• Broadcom reported a net income of $1.58 EPS for the quarter ending June 5th, surpassing analysts' expectations and demonstrating a 20.2% year-over-year revenue increase.
• Several analysts have given Broadcom a consensus Buy rating with a target price near $301.79, indicating strong investor confidence amid recent insider selling activities.

Panagora Asset Management Inc. grew its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 92.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,551,735 shares of the semiconductor manufacturer's stock after buying an additional 746,843 shares during the quarter. Broadcom accounts for about 1.3% of Panagora Asset Management Inc.'s investment portfolio, making the stock its 10th biggest holding. Panagora Asset Management Inc.'s holdings in Broadcom were worth $259,807,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. PARUS FINANCE UK Ltd grew its position in Broadcom by 175.3% in the first quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer's stock valued at $16,840,000 after purchasing an additional 64,038 shares in the last quarter. Keener Financial Planning LLC increased its position in shares of Broadcom by 34.8% in the first quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer's stock valued at $149,000 after acquiring an additional 230 shares during the last quarter. Diversify Wealth Management LLC increased its position in shares of Broadcom by 5.6% in the first quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer's stock valued at $6,365,000 after acquiring an additional 2,016 shares during the last quarter. OMNI 360 Wealth Inc. increased its position in shares of Broadcom by 51.6% in the first quarter. OMNI 360 Wealth Inc. now owns 2,980 shares of the semiconductor manufacturer's stock valued at $499,000 after acquiring an additional 1,014 shares during the last quarter. Finally, Gamco Investors INC. ET AL increased its position in shares of Broadcom by 1.3% in the first quarter. Gamco Investors INC. ET AL now owns 54,406 shares of the semiconductor manufacturer's stock valued at $9,109,000 after acquiring an additional 700 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Insiders Place Their Bets

In related news, Director Henry Samueli sold 473,898 shares of the stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total value of $125,739,356.34. Following the completion of the sale, the director directly owned 38,188,575 shares in the company, valued at $10,132,574,604.75. This represents a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Justine Page sold 800 shares of the company's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $307.46, for a total transaction of $245,968.00. Following the sale, the director directly owned 23,782 shares in the company, valued at $7,312,013.72. This trade represents a 3.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 830,516 shares of company stock valued at $217,286,457 over the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Performance

Shares of NASDAQ:AVGO traded up $0.97 during trading on Tuesday, reaching $298.36. 15,618,853 shares of the stock were exchanged, compared to its average volume of 25,697,164. Broadcom Inc. has a 12 month low of $134.90 and a 12 month high of $317.35. The firm has a market cap of $1.40 trillion, a PE ratio of 111.75, a PEG ratio of 2.11 and a beta of 1.16. The stock has a 50-day moving average price of $288.61 and a 200-day moving average price of $235.11. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89.

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

Broadcom Dividend Announcement

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

Analyst Ratings Changes

A number of research firms recently issued reports on AVGO. Mizuho lifted their target price on Broadcom from $315.00 to $320.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Citigroup lifted their target price on Broadcom from $285.00 to $315.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Oppenheimer reaffirmed an "outperform" rating and issued a $325.00 target price (up previously from $305.00) on shares of Broadcom in a research report on Thursday, August 28th. Wall Street Zen downgraded Broadcom from a "buy" rating to a "hold" rating in a research report on Monday, August 25th. Finally, Rosenblatt Securities lifted their target price on Broadcom from $223.00 to $340.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Three research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $302.58.

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.