E Fund Management Hong Kong Co. Ltd. Has $780,000 Holdings in Broadcom Inc. $AVGO

Key Points

• E Fund Management Hong Kong Co. Ltd. increased its holdings in Broadcom Inc. by 94.4% during the second quarter, holding 2,831 shares valued at approximately $780,000.
• Broadcom reported a 22% increase in revenue year-over-year, with earnings per share of $1.69, surpassing analysts' expectations.
• Several analysts have upgraded Broadcom's stock ratings, and the average price target has risen to $370.07, reflecting a strong buy sentiment among research firms.

E Fund Management Hong Kong Co. Ltd. lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 94.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,831 shares of the semiconductor manufacturer's stock after purchasing an additional 1,375 shares during the quarter. Broadcom accounts for about 0.8% of E Fund Management Hong Kong Co. Ltd.'s portfolio, making the stock its 16th biggest position. E Fund Management Hong Kong Co. Ltd.'s holdings in Broadcom were worth $780,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. US Bancorp DE raised its holdings in Broadcom by 2.0% during the 2nd quarter. US Bancorp DE now owns 1,247,384 shares of the semiconductor manufacturer's stock worth $343,845,000 after buying an additional 24,536 shares during the period. Golden Reserve Retirement LLC acquired a new stake in Broadcom during the 2nd quarter worth approximately $3,875,000. Fulton Breakefield Broenniman LLC raised its holdings in shares of Broadcom by 220.6% during the second quarter. Fulton Breakefield Broenniman LLC now owns 6,828 shares of the semiconductor manufacturer's stock worth $1,882,000 after acquiring an additional 4,698 shares during the period. Allegiance Financial Group Advisory Services LLC acquired a new stake in shares of Broadcom during the second quarter worth $308,000. Finally, Beaumont Asset Management L.L.C. raised its holdings in shares of Broadcom by 0.8% during the second quarter. Beaumont Asset Management L.L.C. now owns 9,040 shares of the semiconductor manufacturer's stock worth $2,492,000 after acquiring an additional 74 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Trading Down 3.5%

Shares of Broadcom stock opened at $344.13 on Wednesday. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $374.23. The stock has a market cap of $1.63 trillion, a P/E ratio of 87.79, a P/E/G ratio of 1.98 and a beta of 1.20. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86. The business's 50 day moving average is $324.84 and its 200-day moving average is $265.45.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.66 by $0.03. The company had revenue of $15.95 billion for 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. Equities research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Henry Samueli sold 368,797 shares of the company's stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $337.91, for a total value of $124,620,194.27. Following the transaction, the director owned 37,722,534 shares of the company's stock, valued at approximately $12,746,821,463.94. This represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 3,893 shares of the company's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total value of $1,354,063.26. Following the completion of the transaction, the insider directly owned 25,295 shares in the company, valued at $8,798,106.90. The trade was a 13.34% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 3,550 shares of company stock worth $1,227,869 and have sold 664,471 shares worth $225,184,128. Corporate insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on AVGO. Argus lifted their price target on Broadcom from $285.00 to $375.00 and gave the company a "buy" rating in a research note on Monday, September 8th. Wall Street Zen raised Broadcom from a "hold" rating to a "buy" rating in a research report on Saturday, September 6th. Wells Fargo & Company lifted their target price on Broadcom from $255.00 to $345.00 and gave the company an "equal weight" rating in a research report on Friday, September 5th. Arete Research raised Broadcom to a "strong-buy" rating in a research report on Monday, July 28th. Finally, Oppenheimer reiterated an "outperform" rating and issued a $360.00 price objective (up from $325.00) on shares of Broadcom in a report on Friday, September 5th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Broadcom presently has an average rating of "Buy" and an average target price of $370.07.

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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