Broadleaf Partners LLC Makes New Investment in Broadcom Inc. $AVGO

Key Points

• Broadleaf Partners LLC has acquired a new position in Broadcom Inc., purchasing 36,563 shares valued at approximately $6.1 million, representing 1.6% of their investment portfolio.
• Broadcom recently reported earnings of $1.58 per share for the quarter, surpassing analysts' estimates, and recorded a quarterly revenue of $15 billion, marking a 20.2% increase from the previous year.
• The company announced a quarterly dividend of $0.59 per share, which translates to an annual yield of 0.8%, with a payout ratio of 88.39%.

Broadleaf Partners LLC bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 36,563 shares of the semiconductor manufacturer's stock, valued at approximately $6,122,000. Broadcom accounts for 1.6% of Broadleaf Partners LLC's investment portfolio, making the stock its 22nd largest position.

A number of other hedge funds also recently bought and sold shares of the business. PARUS FINANCE UK Ltd lifted its stake in Broadcom by 175.3% in the first quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer's stock worth $16,840,000 after acquiring an additional 64,038 shares during the period. Keener Financial Planning LLC boosted its stake in shares of Broadcom by 34.8% during the 1st quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer's stock valued at $149,000 after purchasing an additional 230 shares in the last quarter. Diversify Wealth Management LLC increased its position in shares of Broadcom by 5.6% during the first quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer's stock valued at $6,365,000 after buying an additional 2,016 shares during the period. OMNI 360 Wealth Inc. raised its stake in Broadcom by 51.6% in the first quarter. OMNI 360 Wealth Inc. now owns 2,980 shares of the semiconductor manufacturer's stock worth $499,000 after buying an additional 1,014 shares in the last quarter. Finally, Algert Global LLC raised its stake in Broadcom by 8.2% in the first quarter. Algert Global LLC now owns 60,976 shares of the semiconductor manufacturer's stock worth $10,209,000 after buying an additional 4,618 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Buying and Selling

In other Broadcom news, CFO Kirsten M. Spears sold 36,350 shares of Broadcom stock in a transaction on 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 completion of the transaction, the chief financial officer directly owned 325,587 shares of the company's stock, valued at $85,066,115.49. The trade was a 10.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Hock E. Tan sold 40,000 shares of the stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $268.29, for a total transaction of $10,731,600.00. Following the completion of the sale, the chief executive officer directly owned 482,836 shares in the company, valued at approximately $129,540,070.44. This represents a 7.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 830,516 shares of company stock valued at $217,286,457 over the last 90 days. 2.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of research analyst reports. Citigroup upped their target price on Broadcom from $285.00 to $315.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Arete Research raised Broadcom to a "strong-buy" rating in a research report on Monday, July 28th. KeyCorp upped their target price on shares of Broadcom from $315.00 to $330.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. HSBC raised shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price target for the company in a research report on Tuesday, June 24th. Finally, Erste Group Bank upgraded shares of Broadcom from a "hold" rating to a "buy" rating in a report on Thursday, June 5th. Three analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, Broadcom presently has a consensus rating of "Buy" and a consensus target price of $300.96.

Broadcom Price Performance

Broadcom stock traded up $2.24 during midday trading on Wednesday, reaching $300.25. 13,617,354 shares of the stock traded hands, compared to its average volume of 25,826,541. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. Broadcom Inc. has a 12 month low of $134.90 and a 12 month high of $317.35. The stock's fifty day moving average is $284.66 and its 200-day moving average is $233.28. The stock has a market cap of $1.41 trillion, a P/E ratio of 112.45, a PEG ratio of 2.09 and a beta of 1.15.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.01. The firm had revenue of $15 billion for the quarter, compared to analysts' expectations of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The business's revenue was up 20.2% compared to the same quarter last year. During the same period in the prior year, the company earned $10.96 EPS. Broadcom has set its Q3 2025 guidance at EPS. As a group, equities research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

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 annualized dividend and a dividend yield of 0.8%. Broadcom's payout ratio is currently 88.39%.

Broadcom 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.