Broadcom Inc. $AVGO Shares Purchased by Salem Investment Counselors Inc.

Key Points

• Salem Investment Counselors Inc. increased its stake in Broadcom Inc. by 7.0%, owning 32,074 shares valued at approximately $8.84 million as of its latest SEC filing.
• Insider trading activities were notable, with Director Henry Samueli and another insider selling over 500,000 shares between them, contributing to a decrease in their respective ownership positions.
• Analysts have a consensus rating of "Buy" for Broadcom, with a target price averaging $356.48, indicating positive expectations for the company’s stock performance.

Salem Investment Counselors Inc. increased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 7.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,074 shares of the semiconductor manufacturer's stock after purchasing an additional 2,089 shares during the quarter. Salem Investment Counselors Inc.'s holdings in Broadcom were worth $8,841,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Barnes Dennig Private Wealth Management LLC purchased a new position in Broadcom during the first quarter valued at approximately $25,000. Cheviot Value Management LLC purchased a new stake in shares of Broadcom in the first quarter valued at approximately $25,000. Inlight Wealth Management LLC purchased a new stake in shares of Broadcom in the first quarter valued at approximately $26,000. Sunbeam Capital Management LLC purchased a new stake in shares of Broadcom in the fourth quarter valued at approximately $28,000. Finally, Vermillion Wealth Management Inc. purchased a new stake in shares of Broadcom in the fourth quarter valued at approximately $30,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Henry Samueli sold 473,898 shares of the company's 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 transaction, the director owned 38,188,575 shares of the company's stock, valued at $10,132,574,604.75. This represents a 1.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark David Brazeal sold 50,000 shares of the company's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $253.28, for a total value of $12,664,000.00. Following the completion of the transaction, the insider directly owned 415,956 shares in the company, valued at approximately $105,353,335.68. This trade represents a 10.73% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 3,550 shares of company stock worth $1,227,869 and have sold 850,112 shares worth $234,654,209. Company insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Cowen restated a "buy" rating on shares of Broadcom in a research report on Friday, June 6th. JPMorgan Chase & Co. boosted their price objective on Broadcom from $325.00 to $400.00 and gave the company an "overweight" rating in a research report on Friday, September 5th. Redburn Atlantic initiated coverage on Broadcom in a research report on Wednesday, May 28th. They issued a "buy" rating and a $301.00 price objective for the company. Wall Street Zen raised Broadcom from a "hold" rating to a "buy" rating in a research note on Saturday, September 6th. Finally, TD Cowen lifted their price target on Broadcom from $355.00 to $370.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $356.48.

Broadcom Stock Performance

NASDAQ AVGO opened at $364.09 on Tuesday. The stock's fifty day moving average is $302.11 and its two-hundred day moving average is $243.65. The firm has a market capitalization of $1.72 trillion, a P/E ratio of 92.88, a price-to-earnings-growth ratio of 1.99 and a beta of 1.16. 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 Inc. has a fifty-two week low of $138.10 and a fifty-two week high of $374.23.

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 for the quarter, topping analysts' consensus estimates of $1.66 by $0.03. The company had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The firm's revenue for the quarter was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. On average, research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, September 22nd. Broadcom's dividend payout ratio is 60.20%.

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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