Broadcom Inc. $AVGO Shares Bought by River Street Advisors LLC

Key Points

• River Street Advisors LLC increased its stake in Broadcom Inc. by 6.5%, acquiring a total of 20,874 shares valued at approximately $5.75 million.
• Several institutional investors, including Nuveen LLC and Price T Rowe Associates, have significantly modified their holdings in Broadcom, with institutional ownership now at 76.43%.
• Broadcom’s recent quarterly earnings surpassed expectations, reporting an EPS of $1.69 and revenues of $15.95 billion, reflecting a year-over-year revenue increase of 22%.

River Street Advisors LLC boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 6.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,874 shares of the semiconductor manufacturer's stock after acquiring an additional 1,272 shares during the quarter. Broadcom comprises 2.5% of River Street Advisors LLC's holdings, making the stock its 10th largest holding. River Street Advisors LLC's holdings in Broadcom were worth $5,754,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of AVGO. Nuveen LLC purchased a new stake in shares of Broadcom in the 1st quarter valued at $6,649,117,000. Price T Rowe Associates Inc. MD boosted its position in shares of 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 worth $10,968,270,000 after acquiring an additional 17,985,046 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Broadcom by 16.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer's stock worth $5,333,384,000 after acquiring an additional 4,550,647 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of Broadcom by 36.9% in the 1st quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer's stock valued at $2,638,512,000 after purchasing an additional 4,245,345 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of Broadcom by 16.0% in the 1st quarter. Alliancebernstein L.P. now owns 29,513,814 shares of the semiconductor manufacturer's stock valued at $4,941,498,000 after purchasing an additional 4,077,910 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AVGO. Wells Fargo & Company boosted their target price on Broadcom from $255.00 to $345.00 and gave the company an "equal weight" rating in a report on Friday, September 5th. Evercore ISI reissued an "outperform" rating and set a $342.00 target price (up from $304.00) on shares of Broadcom in a research note on Thursday, September 4th. Oppenheimer reissued an "outperform" rating and set a $360.00 target price (up from $325.00) on shares of Broadcom in a research note on Friday, September 5th. Morgan Stanley increased their target price on Broadcom from $338.00 to $357.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 2nd. Finally, Rosenblatt Securities increased their target price on Broadcom from $340.00 to $400.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Three investment analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Broadcom has an average rating of "Buy" and a consensus price target of $357.22.

Broadcom Stock Performance

AVGO opened at $336.41 on Wednesday. The stock has a market cap of $1.59 trillion, a P/E ratio of 85.82, a P/E/G ratio of 1.86 and a beta of 1.20. 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 stock's 50 day simple moving average is $320.03 and its 200 day simple moving average is $259.78. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $374.23.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, topping analysts' consensus estimates of $1.66 by $0.03. The business had revenue of $15.95 billion for the quarter, compared to analysts' expectations of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The company's revenue was up 22.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. As a group, equities analysts anticipate 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 was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Monday, September 22nd. Broadcom's dividend payout ratio is 60.20%.

Insider Activity

In other Broadcom news, CFO Kirsten M. Spears sold 7,498 shares of the stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the sale, the chief financial officer owned 313,330 shares in the company, valued at approximately $108,932,307.80. This represents a 2.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 3,893 shares of the stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total value of $1,354,063.26. Following the sale, the insider owned 25,295 shares in the company, valued at approximately $8,798,106.90. This trade represents a 13.34% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 3,550 shares of company stock worth $1,227,869 and have sold 666,071 shares worth $225,623,008. Corporate insiders own 2.00% of the company's stock.

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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