Chapin Davis Inc. Has $7.02 Million Position in Broadcom Inc. $AVGO

Key Points

• Chapin Davis Inc. increased its stake in Broadcom Inc. by 79.0% during Q2, bringing its total investment to approximately $7.02 million, making Broadcom its 10th largest holding.
• Insider trading activity included CFO Kirsten M. Spears selling 7,498 shares for over $2.6 million and CEO Hock E. Tan selling 148,154 shares valued at nearly $50 million.
• Broadcom's recent earnings report showed adjusted earnings per share of $1.69, beating estimates, with revenue of $15.95 billion—up 22.0% from the previous year.

Chapin Davis Inc. boosted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 79.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 25,452 shares of the semiconductor manufacturer's stock after buying an additional 11,234 shares during the period. Broadcom makes up 1.9% of Chapin Davis Inc.'s portfolio, making the stock its 10th largest holding. Chapin Davis Inc.'s holdings in Broadcom were worth $7,016,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of AVGO. GAMMA Investing LLC boosted its holdings in shares of Broadcom by 11.5% during the second quarter. GAMMA Investing LLC now owns 115,007 shares of the semiconductor manufacturer's stock worth $31,702,000 after acquiring an additional 11,823 shares during the period. Wooster Corthell Wealth Management Inc. acquired a new stake in Broadcom during the 2nd quarter worth approximately $285,000. Ridgewood Investments LLC boosted its stake in Broadcom by 9.8% in the 2nd quarter. Ridgewood Investments LLC now owns 5,774 shares of the semiconductor manufacturer's stock valued at $1,592,000 after purchasing an additional 513 shares during the period. Maryland Capital Advisors Inc. grew its holdings in Broadcom by 52.7% in the 2nd quarter. Maryland Capital Advisors Inc. now owns 2,977 shares of the semiconductor manufacturer's stock valued at $821,000 after buying an additional 1,027 shares in the last quarter. Finally, Strategic Planning Group LLC grew its holdings in Broadcom by 22.6% in the 2nd quarter. Strategic Planning Group LLC now owns 27,744 shares of the semiconductor manufacturer's stock valued at $7,648,000 after buying an additional 5,121 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Kirsten M. Spears sold 7,498 shares of Broadcom stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total value of $2,606,754.68. Following the transaction, the chief financial officer directly owned 313,330 shares of the company's stock, valued at $108,932,307.80. The trade was a 2.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hock E. Tan sold 148,154 shares of the company's stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $336.67, for a total value of $49,879,007.18. Following the completion of the sale, the chief executive officer owned 825,998 shares in the company, valued at $278,088,746.66. The trade was a 15.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders acquired 3,550 shares of company stock worth $1,227,869 and sold 240,274 shares worth $78,571,804. 2.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Piper Sandler lifted their target price on Broadcom from $315.00 to $375.00 and gave the stock an "overweight" rating in a report on Friday, September 5th. Argus lifted their price objective on shares of Broadcom from $285.00 to $375.00 and gave the stock a "buy" rating in a research note on Monday, September 8th. Cantor Fitzgerald restated an "overweight" rating and set a $300.00 target price on shares of Broadcom in a research report on Friday, June 6th. Erste Group Bank raised shares of Broadcom from a "hold" rating to a "buy" rating in a report on Thursday, June 5th. Finally, Hsbc Global Res upgraded Broadcom from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 24th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $356.48.

Broadcom Price Performance

Broadcom stock opened at $338.94 on Wednesday. The stock has a 50-day moving average price of $310.48 and a two-hundred day moving average price of $249.83. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $374.23. The company has a market capitalization of $1.60 trillion, a PE ratio of 86.46, a P/E/G ratio of 1.87 and a beta of 1.16. 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 (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.03. The company had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The firm's revenue was up 22.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. Analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

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

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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