Broadcom Inc. $AVGO Shares Bought by Sax Wealth Advisors LLC

Key Points

• Sax Wealth Advisors LLC increased its stake in Broadcom by 9.7%, holding 8,725 shares valued at approximately $2.4 million as of their latest SEC filing.
• Broadcom reported a 22% year-over-year revenue increase, with quarterly earnings of $1.69 per share surpassing expectations.
• The company recently declared a quarterly dividend of $0.59, reflecting a 0.7% dividend yield and a payout ratio of 60.20%.

Sax Wealth Advisors LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 9.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,725 shares of the semiconductor manufacturer's stock after acquiring an additional 772 shares during the period. Sax Wealth Advisors LLC's holdings in Broadcom were worth $2,405,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Barnes Dennig Private Wealth Management LLC bought a new position in Broadcom in the 1st quarter worth approximately $25,000. Cheviot Value Management LLC bought a new position in Broadcom in the 1st quarter worth approximately $25,000. Inlight Wealth Management LLC bought a new position in Broadcom in the 1st quarter worth approximately $26,000. Sawyer & Company Inc grew its holdings in Broadcom by 62.1% in the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock worth $26,000 after buying an additional 36 shares in the last quarter. Finally, Legend Financial Advisors Inc. bought a new position in Broadcom in the 2nd quarter worth approximately $28,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Price Performance

NASDAQ AVGO opened at $324.63 on Monday. The stock has a market capitalization of $1.53 trillion, a P/E ratio of 82.81, a P/E/G ratio of 1.80 and a beta of 1.20. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $374.23. The business's fifty day moving average is $322.64 and its two-hundred day moving average is $263.58. 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 posted its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.03. The company 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 firm's revenue was up 22.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. On average, research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were issued a $0.59 dividend. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Broadcom's dividend payout ratio is currently 60.20%.

Insider Buying and Selling

In other Broadcom news, insider Mark David Brazeal sold 16,558 shares of the company's stock in a transaction 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 of the company's stock, valued at approximately $114,468,668.22. This represents a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Henry Samueli sold 368,797 shares of the company's stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $337.91, for a total value of $124,620,194.27. Following the completion of the transaction, the director directly owned 37,722,534 shares in the company, valued at $12,746,821,463.94. This represents a 0.97% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have purchased 3,550 shares of company stock valued at $1,227,869 and have sold 664,471 shares valued at $225,184,128. Corporate insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AVGO. Morgan Stanley increased their price objective on Broadcom from $338.00 to $357.00 and gave the stock an "overweight" rating in a report on Tuesday, September 2nd. HSBC raised Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price objective for the company in a report on Tuesday, June 24th. Barclays upped their target price on Broadcom from $265.00 to $400.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. KeyCorp restated an "overweight" rating and issued a $420.00 target price (up from $400.00) on shares of Broadcom in a research report on Tuesday, September 30th. Finally, Wells Fargo & Company upped their target price on Broadcom from $255.00 to $345.00 and gave the stock an "equal weight" rating in a research report on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Broadcom currently has an average rating of "Buy" and an average price target of $357.22.

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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