Connective Capital Management LLC Invests $2.16 Million in Broadcom Inc. $AVGO

Key Points

• Connective Capital Management LLC invested $2.16 million in Broadcom Inc., acquiring 12,892 shares, marking it as 2.0% of its investment portfolio.
• Broadcom reported a 20.2% increase in revenue year-over-year, reaching $15 billion, and exceeded earnings expectations with an EPS of $1.58.
• Broadcom declared a quarterly dividend of $0.59, representing an annual yield of 0.8% and a payout ratio of 88.39%.

Connective Capital Management LLC purchased a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 12,892 shares of the semiconductor manufacturer's stock, valued at approximately $2,159,000. Broadcom comprises about 2.0% of Connective Capital Management LLC's investment portfolio, making the stock its 15th biggest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Waddell & Associates LLC boosted its position in shares of Broadcom by 2.1% during the 1st quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer's stock valued at $350,000 after acquiring an additional 43 shares during the last quarter. True Wealth Design LLC grew its stake in shares of Broadcom by 7.2% in the 4th quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock valued at $165,000 after buying an additional 48 shares during the period. Wescott Financial Advisory Group LLC grew its stake in shares of Broadcom by 3.8% in the 1st quarter. Wescott Financial Advisory Group LLC now owns 1,326 shares of the semiconductor manufacturer's stock valued at $222,000 after buying an additional 48 shares during the period. Martingale Asset Management L P increased its holdings in shares of Broadcom by 1.3% during the 1st quarter. Martingale Asset Management L P now owns 3,876 shares of the semiconductor manufacturer's stock worth $649,000 after buying an additional 48 shares during the last quarter. Finally, Fulton Breakefield Broenniman LLC raised its position in shares of Broadcom by 2.4% during the 1st quarter. Fulton Breakefield Broenniman LLC now owns 2,130 shares of the semiconductor manufacturer's stock valued at $357,000 after buying an additional 50 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Stock Up 1.5%

Broadcom stock opened at $294.00 on Monday. The firm has a market capitalization of $1.38 trillion, a P/E ratio of 110.11, a P/E/G ratio of 2.09 and a beta of 1.15. 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 twelve month low of $134.90 and a twelve month high of $317.35. The stock's fifty day simple moving average is $282.85 and its 200-day simple moving average is $232.34.

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

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were paid a $0.59 dividend. The ex-dividend date was Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a yield of 0.8%. Broadcom's payout ratio is currently 88.39%.

Analysts Set New Price Targets

Several brokerages recently weighed in on AVGO. KeyCorp increased their price objective on Broadcom from $315.00 to $330.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. The Goldman Sachs Group reissued a "buy" rating and set a $340.00 price objective on shares of Broadcom in a research report on Wednesday, August 13th. JPMorgan Chase & Co. boosted their price objective on shares of Broadcom from $250.00 to $325.00 and gave the company an "overweight" rating in a report on Friday, June 6th. Cowen reaffirmed a "buy" rating on shares of Broadcom in a research note on Friday, June 6th. Finally, Piper Sandler boosted their price target on shares of Broadcom from $300.00 to $315.00 and gave the company an "overweight" rating in a research note on Friday. Three analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $298.67.

Insider Activity at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 117,758 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $252.91, for a total value of $29,782,175.78. Following the sale, the chief executive officer directly owned 1,014,152 shares of the company's stock, valued at approximately $256,489,182.32. This represents a 10.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Mark David Brazeal sold 50,000 shares of Broadcom stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $253.28, for a total transaction of $12,664,000.00. Following the sale, the insider directly owned 415,956 shares of the company's stock, valued at approximately $105,353,335.68. This trade represents a 10.73% 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 worth $217,286,457 over the last ninety days. 2.00% of the stock is currently owned by insiders.

About Broadcom

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.

Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGO - Free Report).

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.