Contour Asset Management LLC Makes New $45.29 Million Investment in Broadcom Inc. $AVGO

Contour Asset Management LLC purchased a new position in Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 270,500 shares of the semiconductor manufacturer's stock, valued at approximately $45,290,000. Broadcom makes up 1.8% of Contour Asset Management LLC's portfolio, making the stock its 20th biggest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AVGO. Brighton Jones LLC raised its position in Broadcom by 21.8% in the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock worth $6,882,000 after acquiring an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC raised its position in Broadcom by 10.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock worth $1,854,000 after acquiring an additional 756 shares in the last quarter. Bank Pictet & Cie Europe AG raised its position in Broadcom by 16.4% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 221,199 shares of the semiconductor manufacturer's stock worth $51,283,000 after acquiring an additional 31,225 shares in the last quarter. Baker Avenue Asset Management LP raised its position in Broadcom by 9.0% in the fourth quarter. Baker Avenue Asset Management LP now owns 19,274 shares of the semiconductor manufacturer's stock worth $4,468,000 after acquiring an additional 1,587 shares in the last quarter. Finally, Chapman Financial Group LLC bought a new stake in Broadcom in the fourth quarter worth about $134,000. 76.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on AVGO shares. Rosenblatt Securities boosted their price objective on Broadcom from $223.00 to $340.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Oppenheimer restated an "outperform" rating and set a $325.00 price objective (up previously from $305.00) on shares of Broadcom in a report on Thursday. Benchmark boosted their price objective on Broadcom from $255.00 to $315.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Barclays boosted their price objective on Broadcom from $215.00 to $265.00 and gave the stock an "overweight" rating in a report on Monday, June 9th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $300.00 price objective on shares of Broadcom in a report on Friday, June 6th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Broadcom presently has a consensus rating of "Buy" and an average target price of $301.79.

Insiders Place Their Bets

In related news, Director Henry Samueli sold 473,898 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total value of $125,739,356.34. Following the completion of the sale, the director owned 38,188,575 shares of the company's stock, valued at approximately $10,132,574,604.75. The trade was a 1.23% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Hock E. Tan sold 40,000 shares of the business's stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $268.29, for a total value of $10,731,600.00. Following the completion of the sale, the chief executive officer directly 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 position. 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 in the last quarter. Corporate insiders own 2.00% of the company's stock.

Broadcom Trading Down 3.6%

NASDAQ:AVGO opened at $297.39 on Tuesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. Broadcom Inc. has a fifty-two week low of $134.90 and a fifty-two week high of $317.35. The stock's 50-day moving average is $288.61 and its two-hundred day moving average is $235.11. The stock has a market cap of $1.40 trillion, a PE ratio of 111.38, a price-to-earnings-growth ratio of 2.11 and a beta of 1.16.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, beating 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 company had revenue of $15 billion for the quarter, compared to analysts' expectations of $14.98 billion. During the same quarter in the previous year, the business posted $10.96 EPS. The business'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 research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom's payout ratio is 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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