Assenagon Asset Management S.A. Acquires 3,065,809 Shares of Broadcom Inc. $AVGO

Key Points

• Assenagon Asset Management S.A. increased its holdings in Broadcom Inc. by 272.8%, acquiring a total of 4,189,531 shares valued at over $1.15 billion, making it the firm's sixth-largest position.
• Wall Street analysts remain optimistic about Broadcom's stock, with a consensus rating of "Buy" and an average target price of $356.48, following several target price increases from firms like Piper Sandler and Barclays.
• Broadcom announced a quarterly dividend of $0.59 per share, reflecting an annualized rate of $2.36 and a yield of 0.7%, with the dividend payable on September 30th.

Assenagon Asset Management S.A. lifted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 272.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,189,531 shares of the semiconductor manufacturer's stock after buying an additional 3,065,809 shares during the quarter. Broadcom makes up about 1.7% of Assenagon Asset Management S.A.'s investment portfolio, making the stock its 6th largest position. Assenagon Asset Management S.A. owned about 0.09% of Broadcom worth $1,154,844,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC raised its stake in Broadcom by 21.8% during the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock valued at $6,882,000 after purchasing an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in Broadcom by 10.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock valued at $1,854,000 after purchasing an additional 756 shares in the last quarter. Bank Pictet & Cie Europe AG raised its stake in shares of Broadcom by 16.4% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 221,199 shares of the semiconductor manufacturer's stock valued at $51,283,000 after acquiring an additional 31,225 shares during the period. Retirement Planning Group LLC raised its stake in shares of Broadcom by 4.9% in the fourth quarter. Retirement Planning Group LLC now owns 2,240 shares of the semiconductor manufacturer's stock valued at $519,000 after acquiring an additional 104 shares during the period. Finally, Fourth Dimension Wealth LLC purchased a new stake in shares of Broadcom in the fourth quarter valued at $116,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom Trading Down 0.0%

Shares of NASDAQ AVGO traded down $0.12 during mid-day trading on Tuesday, reaching $338.67. The company had a trading volume of 10,082,009 shares, compared to its average volume of 26,376,787. 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 Inc. has a 52 week low of $138.10 and a 52 week high of $374.23. The business's 50-day moving average is $309.32 and its 200-day moving average is $249.20. The stock has a market cap of $1.60 trillion, a price-to-earnings ratio of 86.59, a price-to-earnings-growth ratio of 1.91 and a beta of 1.16.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, beating the consensus estimate of $1.66 by $0.03. The business had revenue of $15.95 billion during 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 company's quarterly revenue was up 22.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. Equities analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, September 22nd. Broadcom's payout ratio is presently 60.20%.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several recent analyst reports. Benchmark increased their target price on shares of Broadcom from $315.00 to $385.00 and gave the company a "buy" rating in a research note on Friday, September 5th. Hsbc Global Res raised shares of Broadcom from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 24th. The Goldman Sachs Group reissued a "buy" rating and issued a $340.00 target price on shares of Broadcom in a research note on Wednesday, August 13th. Piper Sandler increased their target price on shares of Broadcom from $315.00 to $375.00 and gave the company an "overweight" rating in a research note on Friday, September 5th. Finally, Cowen reissued a "buy" rating on shares of Broadcom in a research note on Friday, June 6th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $356.48.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 3,893 shares of Broadcom stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total transaction of $1,354,063.26. Following the completion of the sale, the insider directly owned 25,295 shares in the company, valued at approximately $8,798,106.90. The trade was a 13.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 16,558 shares of Broadcom stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the sale, the insider owned 329,302 shares of the company's stock, valued at approximately $114,468,668.22. The trade was a 4.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 3,550 shares of company stock worth $1,227,869 and sold 714,172 shares worth $204,311,160. 2.00% of the stock is currently owned by insiders.

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.