D.B. Root & Company LLC Raises Stock Position in Broadcom Inc. $AVGO

Key Points

• D.B. Root & Company LLC has increased its stake in Broadcom Inc. by 19.7%, owning 5,388 shares valued at approximately $1.485 million.
• Multiple institutional investors have significantly boosted their holdings in Broadcom, with Price T Rowe Associates increasing their stake by 37.8% in the first quarter.
• Despite a recent 5.9% decrease in stock price, Broadcom reported a positive earnings beat with $1.69 EPS for the quarter, higher than expected.

D.B. Root & Company LLC increased its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 19.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,388 shares of the semiconductor manufacturer's stock after purchasing an additional 887 shares during the quarter. D.B. Root & Company LLC's holdings in Broadcom were worth $1,485,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AVGO. Nuveen LLC purchased a new stake in Broadcom in the first quarter worth approximately $6,649,117,000. Price T Rowe Associates Inc. MD boosted its holdings in Broadcom by 37.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer's stock worth $10,968,270,000 after purchasing an additional 17,985,046 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Broadcom by 16.7% in the first quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer's stock worth $5,333,384,000 after purchasing an additional 4,550,647 shares during the last quarter. Deutsche Bank AG boosted its holdings in Broadcom by 36.9% in the first quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer's stock worth $2,638,512,000 after purchasing an additional 4,245,345 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of Broadcom by 16.0% during the 1st quarter. Alliancebernstein L.P. now owns 29,513,814 shares of the semiconductor manufacturer's stock worth $4,941,498,000 after acquiring an additional 4,077,910 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AVGO. Weiss Ratings downgraded shares of Broadcom from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday. Barclays boosted their price objective on shares of Broadcom from $265.00 to $400.00 and gave the company an "overweight" rating in a research report on Friday, September 5th. Sanford C. Bernstein boosted their price objective on shares of Broadcom from $295.00 to $400.00 and gave the company an "outperform" rating in a research report on Friday, September 5th. Hsbc Global Res raised shares of Broadcom from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, June 24th. Finally, Mizuho boosted their price objective on shares of Broadcom from $355.00 to $410.00 and gave the company an "outperform" rating in a research report on Friday, September 12th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Broadcom has a consensus rating of "Buy" and an average target price of $357.22.

Insiders Place Their Bets

In other news, CFO Kirsten M. Spears sold 7,498 shares of the company's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the sale, the chief financial officer directly owned 313,330 shares in the company, valued at approximately $108,932,307.80. This represents a 2.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Henry Samueli sold 368,797 shares of the company's stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $337.91, for a total transaction of $124,620,194.27. Following the transaction, the director 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 90 days, insiders have bought 3,550 shares of company stock worth $1,227,869 and have sold 666,071 shares worth $225,623,008. 2.00% of the stock is owned by company insiders.

Broadcom Stock Down 5.9%

AVGO opened at $324.63 on Friday. 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 Inc. has a fifty-two week low of $138.10 and a fifty-two week high of $374.23. The firm's fifty day moving average is $322.64 and its 200 day moving average is $262.95. The stock has a market cap of $1.53 trillion, a price-to-earnings ratio of 82.81, a price-to-earnings-growth ratio of 1.80 and a beta of 1.20.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping the consensus estimate of $1.66 by $0.03. The business had revenue of $15.95 billion for the quarter, compared to analysts' expectations of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The business's quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. On average, sell-side analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

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

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.