Broadcom Inc. $AVGO Stake Lifted by Gries Financial LLC

Key Points

• Gries Financial LLC increased its stake in Broadcom Inc. by 27.3% in Q2, now holding 7,948 shares valued at approximately $2.19 million.
• Analysts have raised their price targets for Broadcom, with a new consensus target of $356.48 and 29 analysts rating the stock as a "Buy."
• Broadcom announced a quarterly dividend of $0.59 per share, which will be paid to shareholders on September 30th, representing an annual yield of 0.7%.

Gries Financial LLC boosted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 27.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,948 shares of the semiconductor manufacturer's stock after buying an additional 1,703 shares during the period. Gries Financial LLC's holdings in Broadcom were worth $2,191,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Nuveen LLC bought a new position in Broadcom in the 1st quarter worth about $6,649,117,000. Price T Rowe Associates Inc. MD boosted its position in shares of Broadcom by 37.8% during the first 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 buying an additional 17,985,046 shares during the period. GAMMA Investing LLC grew its holdings in Broadcom by 18,179.3% in the 1st quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer's stock worth $2,892,548,000 after buying an additional 17,181,652 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Broadcom by 16.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer's stock valued at $5,333,384,000 after acquiring an additional 4,550,647 shares during the period. Finally, Deutsche Bank AG increased its position in 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 acquiring an additional 4,245,345 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on AVGO shares. The Goldman Sachs Group reiterated a "buy" rating and set a $340.00 price target on shares of Broadcom in a research report on Wednesday, August 13th. Cowen reaffirmed a "buy" rating on shares of Broadcom in a report on Friday, June 6th. UBS Group raised their target price on shares of Broadcom from $290.00 to $345.00 and gave the company a "buy" rating in a research note on Monday, August 25th. KeyCorp boosted their price target on shares of Broadcom from $330.00 to $400.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. Finally, Redburn Atlantic started coverage on shares of Broadcom in a report on Wednesday, May 28th. They issued a "buy" rating and a $301.00 price objective for the company. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $356.48.

Insider Buying and Selling at Broadcom

In other news, Director Harry L. You acquired 2,050 shares of the business's stock in a transaction that occurred on Monday, September 8th. The stock was acquired at an average cost of $344.78 per share, for a total transaction of $706,799.00. Following the completion of the acquisition, the director owned 34,102 shares in the company, valued at approximately $11,757,687.56. The trade was a 6.40% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kirsten M. Spears sold 7,498 shares of Broadcom stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total value of $2,606,754.68. Following the sale, the chief financial officer directly owned 313,330 shares of the company's stock, valued at approximately $108,932,307.80. The trade was a 2.34% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 3,550 shares of company stock worth $1,227,869 and sold 197,274 shares worth $67,044,814. Insiders own 2.00% of the company's stock.

Broadcom Price Performance

AVGO stock opened at $339.31 on Thursday. Broadcom Inc. has a one year low of $138.10 and a one year high of $374.23. The firm has a 50-day moving average of $311.64 and a two-hundred day moving average of $250.44. The firm has a market capitalization of $1.60 trillion, a PE ratio of 86.56, a P/E/G ratio of 1.87 and a beta of 1.16. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86.

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

Broadcom Dividend Announcement

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