Middleton & Co. Inc. MA lessened its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 5.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 143,285 shares of the semiconductor manufacturer's stock after selling 7,776 shares during the period. Broadcom makes up approximately 2.8% of Middleton & Co. Inc. MA's investment portfolio, making the stock its 7th largest position. Middleton & Co. Inc. MA's holdings in Broadcom were worth $23,990,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the company. Plan Group Financial LLC grew its position in shares of Broadcom by 51.2% during the 1st quarter. Plan Group Financial LLC now owns 10,796 shares of the semiconductor manufacturer's stock worth $1,808,000 after purchasing an additional 3,655 shares in the last quarter. Wills Financial Group LLC acquired a new stake in shares of Broadcom in the first quarter valued at approximately $2,996,000. Kickstand Ventures LLC. boosted its stake in shares of Broadcom by 13.2% in the first quarter. Kickstand Ventures LLC. now owns 2,319 shares of the semiconductor manufacturer's stock valued at $388,000 after buying an additional 270 shares during the period. Westfield Capital Management Co. LP grew its position in Broadcom by 3.2% during the first quarter. Westfield Capital Management Co. LP now owns 1,398,303 shares of the semiconductor manufacturer's stock worth $234,118,000 after buying an additional 43,326 shares in the last quarter. Finally, Sfmg LLC increased its stake in Broadcom by 8.1% during the 1st quarter. Sfmg LLC now owns 16,897 shares of the semiconductor manufacturer's stock worth $2,829,000 after acquiring an additional 1,268 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on AVGO. Truist Financial set a $295.00 target price on Broadcom and gave the company a "buy" rating in a research report on Friday, June 6th. The Goldman Sachs Group assumed coverage on shares of Broadcom in a research report on Thursday, July 10th. They issued a "buy" rating and a $315.00 target price for the company. Evercore ISI reiterated an "outperform" rating and set a $304.00 price target (up previously from $267.00) on shares of Broadcom in a research report on Friday, June 6th. Wall Street Zen raised shares of Broadcom from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Finally, Susquehanna upped their target price on Broadcom from $280.00 to $300.00 and gave the stock a "positive" rating in a research note on Friday, June 6th. One research analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $294.92.
View Our Latest Stock Report on AVGO
Broadcom Trading Up 3.1%
NASDAQ AVGO opened at $297.72 on Tuesday. The firm has a market capitalization of $1.40 trillion, a PE ratio of 111.51, a price-to-earnings-growth ratio of 2.05 and a beta of 1.15. The business's 50-day moving average price is $267.94 and its two-hundred day moving average price is $224.92. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $306.95.
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 (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.01. The firm had revenue of $15 billion during the quarter, compared to analyst estimates of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The company's revenue was up 20.2% compared to the same quarter last year. During the same quarter last year, the business earned $10.96 EPS. On average, analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.
Broadcom Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Friday, June 20th. This represents a $2.36 annualized dividend and a yield of 0.8%. Broadcom's dividend payout ratio (DPR) is currently 88.39%.
Broadcom declared that its board has initiated a share buyback program on Monday, April 7th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.
Insider Buying and Selling at Broadcom
In other Broadcom news, CEO Hock E. Tan sold 40,000 shares of the business's stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $268.29, for a total value of $10,731,600.00. Following the transaction, the chief executive officer directly owned 482,836 shares of the company's stock, valued at approximately $129,540,070.44. The trade was a 7.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Justine Page sold 800 shares of the stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $274.30, for a total value of $219,440.00. Following the transaction, the director owned 24,582 shares in the company, valued at $6,742,842.60. The trade was a 3.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 830,516 shares of company stock valued at $217,224,641 over the last ninety days. Insiders own 2.00% of the company's stock.
Broadcom Company Profile
(
Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Broadcom, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Broadcom wasn't on the list.
While Broadcom currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of ten stocks that are set to soar in Summer 2025, despite the threat of tariffs and other economic uncertainty. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
Get This Free Report
