Freedom Investment Management Inc. Has $2.09 Million Stock Position in Broadcom Inc. $AVGO

Key Points

• Freedom Investment Management Inc. has increased its stake in Broadcom Inc. by 29% in Q1, owning 12,480 shares valued at approximately $2.09 million.
• Insider transactions revealed that CEO Hock E. Tan sold 117,758 shares for roughly $29.78 million, reducing his ownership by 10.4%.
• Broadcom received multiple analyst upgrades, with targets reaching as high as $340.00, reflecting a consensus rating of "Buy" among analysts.

Freedom Investment Management Inc. lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 29.0% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 12,480 shares of the semiconductor manufacturer's stock after buying an additional 2,807 shares during the period. Freedom Investment Management Inc.'s holdings in Broadcom were worth $2,089,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Synovus Financial Corp increased its stake in Broadcom by 1.5% during the first quarter. Synovus Financial Corp now owns 228,545 shares of the semiconductor manufacturer's stock worth $38,266,000 after acquiring an additional 3,350 shares during the last quarter. Broadleaf Partners LLC acquired a new position in shares of Broadcom during the first quarter worth about $6,122,000. Southeast Asset Advisors LLC boosted its position in shares of Broadcom by 3.7% in the first quarter. Southeast Asset Advisors LLC now owns 1,806 shares of the semiconductor manufacturer's stock worth $302,000 after buying an additional 65 shares during the period. Enterprise Financial Services Corp grew its stake in shares of Broadcom by 1.0% in the first quarter. Enterprise Financial Services Corp now owns 8,066 shares of the semiconductor manufacturer's stock valued at $1,350,000 after buying an additional 76 shares in the last quarter. Finally, Jump Financial LLC raised its holdings in shares of Broadcom by 31.6% during the 1st quarter. Jump Financial LLC now owns 198,055 shares of the semiconductor manufacturer's stock valued at $33,160,000 after buying an additional 47,549 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Justine Page sold 800 shares of the business's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $307.46, for a total transaction of $245,968.00. Following the sale, the director owned 23,782 shares in the company, valued at approximately $7,312,013.72. The trade was a 3.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kirsten M. Spears sold 36,350 shares of the company's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $261.27, for a total transaction of $9,497,164.50. Following the sale, the chief financial officer directly owned 325,587 shares of the company's stock, valued at $85,066,115.49. This represents a 10.04% decrease in their ownership of the stock. 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 90 days. 2.00% of the stock is owned by insiders.

Broadcom Stock Performance

NASDAQ AVGO traded up $3.78 during trading hours on Tuesday, reaching $298.01. The company's stock had a trading volume of 25,663,382 shares, compared to its average volume of 25,905,787. Broadcom Inc. has a 52 week low of $134.90 and a 52 week high of $317.35. The stock has a market cap of $1.40 trillion, a PE ratio of 111.61, a PEG ratio of 2.09 and a beta of 1.15. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. The business has a 50-day simple moving average of $283.69 and a 200 day simple moving average of $232.83.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $1.57 by $0.01. The company had revenue of $15 billion for 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 business's revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $10.96 earnings per share. Broadcom has set its Q3 2025 guidance at EPS. Equities research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on AVGO shares. Citigroup lifted their price objective on shares of Broadcom from $285.00 to $315.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Susquehanna lifted their price target on shares of Broadcom from $280.00 to $300.00 and gave the stock a "positive" rating in a research note on Friday, June 6th. Oppenheimer boosted their price objective on shares of Broadcom from $265.00 to $305.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. JPMorgan Chase & Co. raised their target price on Broadcom from $250.00 to $325.00 and gave the company an "overweight" rating in a research note on Friday, June 6th. Finally, Wall Street Zen cut Broadcom from a "buy" rating to a "hold" rating in a research note on Monday. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $300.96.

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.