Cullinan Associates Inc. Increases Stake in Broadcom Inc. $AVGO

Key Points

• Cullinan Associates Inc. increased its stake in Broadcom Inc. by 11.5%, acquiring an additional 1,000 shares, bringing their total holdings to 9,700 shares valued at approximately $2.67 million.
• Broadcom reported a 22% year-over-year revenue increase with $15.95 billion, overshadowing analysts' expectations, and achieved an earnings per share (EPS) of $1.69, beating estimates by $0.03.
• The firm announced a quarterly dividend of $0.59 per share, with an annualized dividend yield of 0.7%, highlighting its continued commitment to returning capital to shareholders.

Cullinan Associates Inc. increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 11.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,700 shares of the semiconductor manufacturer's stock after buying an additional 1,000 shares during the period. Cullinan Associates Inc.'s holdings in Broadcom were worth $2,674,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC boosted its holdings in Broadcom by 21.8% in the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock valued at $6,882,000 after purchasing an additional 5,322 shares during the period. Revolve Wealth Partners LLC raised its position in Broadcom by 10.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock valued at $1,854,000 after purchasing an additional 756 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Broadcom by 9.2% during the first quarter. GAMMA Investing LLC now owns 103,184 shares of the semiconductor manufacturer's stock worth $17,276,000 after buying an additional 8,672 shares during the period. Noble Wealth Management PBC increased its stake in shares of Broadcom by 9.7% during the first quarter. Noble Wealth Management PBC now owns 845 shares of the semiconductor manufacturer's stock worth $141,000 after buying an additional 75 shares during the period. Finally, Rockland Trust Co. increased its stake in shares of Broadcom by 17.1% during the first quarter. Rockland Trust Co. now owns 3,042 shares of the semiconductor manufacturer's stock worth $509,000 after buying an additional 445 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Stock Performance

Shares of AVGO stock opened at $324.63 on Friday. The stock's 50-day moving average is $322.64 and its two-hundred day moving average is $262.37. The firm has a market cap of $1.53 trillion, a price-to-earnings ratio of 82.81, a PEG ratio of 1.91 and a beta of 1.20. Broadcom Inc. has a 1 year low of $138.10 and a 1 year 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 earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.66 by $0.03. The firm 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 business's revenue was up 22.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. Analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have commented on AVGO. Truist Financial boosted their price target on shares of Broadcom from $295.00 to $365.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Benchmark lifted their price objective 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. Sanford C. Bernstein raised their price target on Broadcom from $295.00 to $400.00 and gave the company an "outperform" rating in a research note on Friday, September 5th. Rosenblatt Securities raised their price target on Broadcom from $340.00 to $400.00 and gave the company a "buy" rating in a research note on Friday, September 5th. Finally, Piper Sandler increased their price objective on Broadcom from $315.00 to $375.00 and gave the company an "overweight" rating in a report on Friday, September 5th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Broadcom presently has a consensus rating of "Buy" and a consensus price target of $357.22.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 16,558 shares of Broadcom stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total value of $5,755,726.38. Following the transaction, the insider directly owned 329,302 shares of the company's stock, valued at $114,468,668.22. The trade was a 4.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Henry Samueli sold 368,797 shares of the firm's stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $337.91, for a total transaction of $124,620,194.27. Following the transaction, the director directly owned 37,722,534 shares in the company, valued at $12,746,821,463.94. The trade was a 0.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 3,550 shares of company stock worth $1,227,869 and sold 666,071 shares worth $225,623,008. Insiders own 2.00% of the company's stock.

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.

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