Caxton Associates LLP Purchases Shares of 11,970 Broadcom Inc. $AVGO

Key Points

• Caxton Associates LLP has invested $2 million in Broadcom Inc., acquiring nearly 12,000 shares during the first quarter.
• Broadcom's stock has received multiple price target upgrades from various analysts, with Citigroup increasing its target from $315 to $350, and Truist from $295 to $365.
• Despite recent insider selling activities, Broadcom continues to show strong performance, having reported a 22% increase in quarterly revenue year-over-year.

Caxton Associates LLP bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 11,970 shares of the semiconductor manufacturer's stock, valued at approximately $2,004,000.

Several other hedge funds also recently modified their holdings of AVGO. Vanguard Group Inc. raised its stake in shares of Broadcom by 0.4% during the first quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer's stock valued at $79,900,968,000 after purchasing an additional 2,085,534 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Broadcom by 37.8% in 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 last quarter. Nuveen LLC bought a new stake in shares of Broadcom in the first quarter worth $6,649,117,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Broadcom by 1.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 34,401,379 shares of the semiconductor manufacturer's stock worth $7,975,616,000 after buying an additional 581,704 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Broadcom by 3.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 33,852,310 shares of the semiconductor manufacturer's stock worth $5,668,134,000 after buying an additional 1,043,948 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Down 2.5%

Shares of NASDAQ AVGO traded down $9.31 during trading hours on Thursday, hitting $360.27. The stock had a trading volume of 22,001,031 shares, compared to its average volume of 26,253,129. The company has a market capitalization of $1.69 trillion, a P/E ratio of 91.94, a P/E/G ratio of 1.86 and a beta of 1.16. The firm's 50-day moving average price is $296.92 and its two-hundred day moving average price is $239.85. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $374.23. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced 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 analysts' expectations of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The firm's quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. Analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have commented on AVGO shares. Piper Sandler lifted their price objective on shares of Broadcom from $315.00 to $375.00 and gave the stock an "overweight" rating in a report on Friday, September 5th. Wells Fargo & Company lifted their price objective on shares of Broadcom from $255.00 to $345.00 and gave the company an "equal weight" rating in a research note on Friday, September 5th. Wall Street Zen upgraded shares of Broadcom from a "hold" rating to a "buy" rating in a research note on Saturday, September 6th. JPMorgan Chase & Co. lifted their price objective on shares of Broadcom from $325.00 to $400.00 and gave the company an "overweight" rating in a research note on Friday, September 5th. Finally, Benchmark boosted their price target on shares of Broadcom from $315.00 to $385.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Broadcom has a consensus rating of "Buy" and a consensus price target of $351.92.

Insider Activity

In related news, 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Henry Samueli sold 473,898 shares of the company's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total value of $125,739,356.34. Following the completion of the transaction, the director owned 38,188,575 shares of the company's stock, valued at $10,132,574,604.75. The trade was a 1.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 3,550 shares of company stock valued at $1,227,869 and have sold 702,758 shares valued at $184,975,481. Company insiders own 2.00% of the company's stock.

Broadcom Company 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.