Broadcom Inc. $AVGO Stock Holdings Raised by Eventide Asset Management LLC

Key Points

• Eventide Asset Management LLC increased its holdings in Broadcom Inc. by 9.8%, acquiring a total of 31,587 shares worth approximately $5.3 million.
• Broadcom reported impressive quarterly earnings, posting $1.69 EPS compared to analysts' expectations of $1.66, along with a revenue of $15.95 billion for the quarter.
• The company has declared a quarterly dividend of $0.59 per share, with a yield of 0.8%, set to be paid on September 30th.

Eventide Asset Management LLC increased its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 9.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,587 shares of the semiconductor manufacturer's stock after acquiring an additional 2,810 shares during the period. Eventide Asset Management LLC's holdings in Broadcom were worth $5,298,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Broadcom in the first quarter valued at about $25,000. Cheviot Value Management LLC purchased a new stake in shares of Broadcom in the first quarter valued at about $25,000. Inlight Wealth Management LLC purchased a new stake in shares of Broadcom in the first quarter valued at about $26,000. Sunbeam Capital Management LLC purchased a new stake in shares of Broadcom in the fourth quarter valued at about $28,000. Finally, Vermillion Wealth Management Inc. purchased a new stake in shares of Broadcom in the fourth quarter valued at about $30,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Piper Sandler upped their price target on shares of Broadcom from $315.00 to $375.00 and gave the company an "overweight" rating in a report on Friday. Mizuho upped their price objective on shares of Broadcom from $320.00 to $355.00 and gave the company an "outperform" rating in a research note on Friday. Hsbc Global Res raised shares of Broadcom from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 24th. JPMorgan Chase & Co. upped their price objective on shares of Broadcom from $325.00 to $400.00 and gave the company an "overweight" rating in a research note on Friday. Finally, Benchmark upped their price objective on shares of Broadcom from $315.00 to $385.00 and gave the company a "buy" rating in a research note on Friday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $351.00.

Insider Buying and Selling

In other news, CEO Hock E. Tan sold 40,000 shares of the stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $268.29, for a total value of $10,731,600.00. Following the completion of the sale, the chief executive officer owned 482,836 shares of the company's stock, valued at $129,540,070.44. This represents a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Justine Page sold 800 shares of the firm'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 of the company's stock, valued at approximately $7,312,013.72. The trade was a 3.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 830,516 shares of company stock valued at $217,286,457. 2.00% of the stock is owned by corporate insiders.

Broadcom Trading Up 9.4%

AVGO stock traded up $28.79 on Friday, hitting $334.89. 78,318,626 shares of the company were exchanged, compared to its average volume of 17,635,120. Broadcom Inc. has a twelve month low of $134.90 and a twelve month high of $356.34. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. The business's fifty day moving average is $292.09 and its two-hundred day moving average is $237.25. The stock has a market capitalization of $1.58 trillion, a price-to-earnings ratio of 85.43, a price-to-earnings-growth ratio of 2.38 and a beta of 1.16.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data 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 net margin of 31.59% and a return on equity of 37.17%. The company had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. During the same quarter in the prior year, the business earned $1.24 earnings per share. The business's quarterly revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. As a group, research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be given a $0.59 dividend. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Broadcom's dividend payout ratio is presently 88.39%.

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.