Candriam S.C.A. Boosts Stock Position in Broadcom Inc. $AVGO

Key Points

• Candriam S.C.A. increased its stake in Broadcom Inc. by 3.9% during the first quarter, owning 1,175,811 shares valued at approximately $196.87 million.
• Institutional investors hold 76.43% of Broadcom's shares, with several hedge funds acquiring new stakes valued between $25,000 and $30,000 in the recent quarter.
• Analysts have raised their price targets for Broadcom, with Citigroup setting a new target of $315.00 and HSBC raising theirs to $400.00, reflecting positive sentiment towards the company's growth prospects.

Candriam S.C.A. grew its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,175,811 shares of the semiconductor manufacturer's stock after purchasing an additional 44,274 shares during the quarter. Broadcom makes up about 1.2% of Candriam S.C.A.'s holdings, making the stock its 11th largest position. Candriam S.C.A.'s holdings in Broadcom were worth $196,867,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Barnes Dennig Private Wealth Management LLC acquired a new stake in Broadcom in the first quarter valued at about $25,000. Cheviot Value Management LLC purchased a new stake in Broadcom in the 1st quarter valued at approximately $25,000. Inlight Wealth Management LLC purchased a new stake in Broadcom in the 1st quarter valued at approximately $26,000. Sunbeam Capital Management LLC purchased a new stake in Broadcom in the 4th quarter valued at approximately $28,000. Finally, Vermillion Wealth Management Inc. purchased a new stake in Broadcom in the 4th quarter valued at approximately $30,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Buying and Selling at Broadcom

In other news, Director Gayla J. Delly sold 3,000 shares of the company's stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $265.13, for a total transaction of $795,390.00. Following the completion of the sale, the director directly owned 33,352 shares in the company, valued at $8,842,615.76. This represents a 8.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Hock E. Tan sold 40,000 shares of the company's stock in a transaction 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 sale, the chief executive officer 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 830,516 shares of company stock worth $217,286,457. 2.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on AVGO shares. Citigroup lifted their price objective on Broadcom from $285.00 to $315.00 and gave the company a "buy" rating in a report on Monday, July 7th. UBS Group boosted their price target on Broadcom from $270.00 to $290.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Cantor Fitzgerald reissued an "overweight" rating and set a $300.00 price target on shares of Broadcom in a research note on Friday, June 6th. HSBC raised Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price target on the stock in a research note on Tuesday, June 24th. Finally, The Goldman Sachs Group reissued a "buy" rating and set a $340.00 price target on shares of Broadcom in a research note on Wednesday, August 13th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $295.96.

Broadcom Trading Down 3.5%

Shares of Broadcom stock opened at $294.91 on Wednesday. Broadcom Inc. has a fifty-two week low of $134.90 and a fifty-two week high of $317.35. The firm has a market cap of $1.39 trillion, a PE ratio of 110.45, a P/E/G ratio of 2.17 and a beta of 1.15. The business's fifty day moving average is $280.51 and its two-hundred day moving average is $230.93. 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 (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, topping analysts' consensus estimates of $1.57 by $0.01. Broadcom had a return on equity of 35.49% and a net margin of 22.64%.The company had revenue of $15 billion for the quarter, compared to analyst estimates of $14.98 billion. During the same quarter in the prior year, the company posted $10.96 EPS. The business's revenue for the quarter was up 20.2% compared to the same quarter last year. Broadcom has set its Q3 2025 guidance at EPS. Analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, June 20th. Broadcom's dividend payout ratio is presently 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.

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