CX Institutional Raises Position in Broadcom Inc. $AVGO

Key Points

• CX Institutional increased its stake in Broadcom Inc. by 5.5% during the second quarter, owning a total of 100,832 shares valued at approximately $27.8 million.
• Broadcom reported a quarterly earnings per share (EPS) of $1.69, surpassing analysts' expectations, with a year-over-year revenue increase of 22%.
• The company announced a quarterly dividend of $0.59 per share to be paid on September 30th, representing an annualized yield of 0.7%.

CX Institutional increased its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 5.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 100,832 shares of the semiconductor manufacturer's stock after acquiring an additional 5,251 shares during the quarter. Broadcom makes up 1.0% of CX Institutional's holdings, making the stock its 26th largest holding. CX Institutional's holdings in Broadcom were worth $27,794,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of AVGO. Sawyer & Company Inc raised its stake in shares of Broadcom by 62.1% in the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock valued at $26,000 after acquiring an additional 36 shares in the last quarter. Vermillion Wealth Management Inc. bought a new stake in shares of Broadcom during the fourth quarter worth $30,000. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Broadcom during the first quarter worth approximately $25,000. Cheviot Value Management LLC acquired a new position in Broadcom during the first quarter valued at approximately $25,000. Finally, Inlight Wealth Management LLC acquired a new position in shares of Broadcom in the 1st quarter valued at approximately $26,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Performance

Shares of AVGO traded down $6.15 on Monday, reaching $338.79. 28,599,739 shares of the company's stock traded hands, compared to its average volume of 29,009,098. The stock's 50 day simple moving average is $308.05 and its two-hundred day simple moving average is $248.20. 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 Inc. has a 52-week low of $138.10 and a 52-week high of $374.23. The stock has a market cap of $1.60 trillion, a PE ratio of 86.43, a PEG ratio of 1.91 and a beta of 1.16.

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 the consensus estimate of $1.66 by $0.03. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The firm had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. During the same period last year, the firm posted $1.24 EPS. The business's revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. On average, analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

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

Analyst Ratings Changes

Several analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of Broadcom from $300.00 to $350.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Truist Financial lifted their price target on Broadcom from $295.00 to $365.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Erste Group Bank upgraded Broadcom from a "hold" rating to a "buy" rating in a research note on Thursday, June 5th. Argus lifted their target price on Broadcom from $285.00 to $375.00 and gave the stock a "buy" rating in a research note on Monday, September 8th. Finally, Wells Fargo & Company raised their price target on Broadcom from $255.00 to $345.00 and gave the company an "equal weight" rating in a report on Friday, September 5th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Broadcom has a consensus rating of "Buy" and a consensus target price of $356.48.

Insider Buying and Selling at Broadcom

In other Broadcom 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Harry L. You purchased 500 shares of the company's stock in a transaction that occurred on Wednesday, September 10th. The stock was acquired at an average cost of $363.38 per share, with a total value of $181,690.00. Following the purchase, the director directly owned 35,602 shares of the company's stock, valued at $12,937,054.76. This trade represents a 1.42% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 3,550 shares of company stock valued at $1,227,869 and sold 790,522 shares valued at $224,295,124. Corporate 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.