First Long Island Investors LLC Has $12.74 Million Stock Holdings in Broadcom Inc. $AVGO

Key Points

• First Long Island Investors LLC increased its stake in Broadcom Inc. by 8,264.5%, holding $12.74 million worth of shares after acquiring 75,207 additional shares in the first quarter.
• Broadcom's recent earnings report showed an EPS of $1.69, exceeding estimates and a revenue of $15.95 billion, representing a 22% increase year-over-year.
• The company announced a quarterly dividend of $0.59 per share, with a yield of 0.7%, and a payout ratio of 60.20%, to be paid on September 30th.

First Long Island Investors LLC boosted its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 8,264.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 76,117 shares of the semiconductor manufacturer's stock after buying an additional 75,207 shares during the quarter. First Long Island Investors LLC's holdings in Broadcom were worth $12,744,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Waddell & Associates LLC raised its position in Broadcom by 2.1% in the 1st quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer's stock valued at $350,000 after buying an additional 43 shares during the last quarter. Challenger Wealth Management raised its position in Broadcom by 1.3% in the 1st quarter. Challenger Wealth Management now owns 3,504 shares of the semiconductor manufacturer's stock valued at $587,000 after buying an additional 45 shares during the last quarter. True Wealth Design LLC raised its position in Broadcom by 7.2% in the 4th quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock valued at $165,000 after buying an additional 48 shares during the last quarter. Wescott Financial Advisory Group LLC raised its position in Broadcom by 3.8% in the 1st quarter. Wescott Financial Advisory Group LLC now owns 1,326 shares of the semiconductor manufacturer's stock valued at $222,000 after buying an additional 48 shares during the last quarter. Finally, Martingale Asset Management L P raised its position in Broadcom by 1.3% in the 1st quarter. Martingale Asset Management L P now owns 3,876 shares of the semiconductor manufacturer's stock valued at $649,000 after buying an additional 48 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $359.63 on Friday. 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 12 month low of $138.10 and a 12 month high of $374.23. The stock has a 50 day moving average of $298.61 and a 200-day moving average of $240.90. The company has a market capitalization of $1.69 trillion, a P/E ratio of 91.74, a P/E/G ratio of 2.04 and a beta of 1.16.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its 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. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The company had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.82 billion. During the same period in the previous year, the company posted $1.24 EPS. The firm's revenue for the quarter was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. As a group, equities research analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

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

Insider Activity at Broadcom

In other news, Director Gayla J. Delly sold 3,000 shares of Broadcom stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $265.13, for a total transaction of $795,390.00. Following the completion of the transaction, the director directly owned 33,352 shares in the company, valued at approximately $8,842,615.76. The trade was a 8.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kirsten M. Spears sold 56,310 shares of Broadcom stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $251.75, for a total value of $14,176,042.50. Following the transaction, the chief financial officer owned 361,937 shares of the company's stock, valued at $91,117,639.75. This represents a 13.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders purchased 3,550 shares of company stock worth $1,227,869 and sold 702,758 shares worth $184,975,481. 2.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AVGO. Wall Street Zen raised Broadcom from a "hold" rating to a "buy" rating in a research report on Saturday, September 6th. Citigroup boosted their price target on Broadcom from $315.00 to $350.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Barclays boosted their price target on Broadcom from $265.00 to $400.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. Oppenheimer reaffirmed an "outperform" rating and set a $360.00 price target (up previously from $325.00) on shares of Broadcom in a research report on Friday, September 5th. Finally, Benchmark boosted their price target on Broadcom from $315.00 to $385.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $351.92.

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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