Flputnam Investment Management Co. Has $86.49 Million Position in Broadcom Inc. $AVGO

Key Points

• Flputnam Investment Management Co. reduced its stake in Broadcom Inc. by 2.5%, bringing its holdings to 516,595 shares valued at approximately $86.49 million.
• Broadcom's CEO Hock E. Tan sold 117,758 shares for over $29.78 million, resulting in a 10.40% reduction in his ownership.
• Investment analysts generally maintain a positive outlook on Broadcom, with a consensus rating of "Buy" and an average price target of $301.79.

Flputnam Investment Management Co. lessened its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 516,595 shares of the semiconductor manufacturer's stock after selling 13,069 shares during the quarter. Broadcom makes up about 1.6% of Flputnam Investment Management Co.'s investment portfolio, making the stock its 10th largest position. Flputnam Investment Management Co.'s holdings in Broadcom were worth $86,493,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the business. Betterment LLC raised its stake in Broadcom by 6.0% during the first quarter. Betterment LLC now owns 1,336 shares of the semiconductor manufacturer's stock valued at $224,000 after purchasing an additional 76 shares in the last quarter. Benchstone Capital Management LP purchased a new stake in Broadcom during the first quarter valued at $28,767,000. Calton & Associates Inc. purchased a new stake in Broadcom during the first quarter valued at $444,000. Saudi Central Bank purchased a new stake in Broadcom during the first quarter valued at $293,000. Finally, Grand Alliance Asset Management Ltd raised its stake in Broadcom by 73.5% during the first quarter. Grand Alliance Asset Management Ltd now owns 59,000 shares of the semiconductor manufacturer's stock valued at $9,878,000 after purchasing an additional 25,000 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Activity

In other news, CEO Hock E. Tan sold 117,758 shares of Broadcom stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $252.91, for a total transaction of $29,782,175.78. Following the completion of the transaction, the chief executive officer directly owned 1,014,152 shares of the company's stock, valued at $256,489,182.32. The trade was a 10.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark David Brazeal sold 50,000 shares of Broadcom stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $253.28, for a total transaction of $12,664,000.00. Following the transaction, the insider directly owned 415,956 shares of the company's stock, valued at approximately $105,353,335.68. This trade represents a 10.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 830,516 shares of company stock worth $217,286,457. 2.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Arete Research upgraded shares of Broadcom to a "strong-buy" rating in a research report on Monday, July 28th. Cowen restated a "buy" rating on shares of Broadcom in a report on Friday, June 6th. Erste Group Bank upgraded shares of Broadcom from a "hold" rating to a "buy" rating in a report on Thursday, June 5th. JPMorgan Chase & Co. upped their price target on shares of Broadcom from $250.00 to $325.00 and gave the stock an "overweight" rating in a report on Friday, June 6th. Finally, Barclays upped their price target on shares of Broadcom from $215.00 to $265.00 and gave the stock an "overweight" rating in a report on Monday, June 9th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $301.79.

Broadcom Stock Down 3.6%

NASDAQ:AVGO opened at $297.39 on Friday. Broadcom Inc. has a fifty-two week low of $134.90 and a fifty-two week high of $317.35. The stock has a market capitalization of $1.40 trillion, a P/E ratio of 111.38, a P/E/G ratio of 2.11 and a beta of 1.15. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08. The company's 50-day simple moving average is $287.74 and its 200-day simple moving average is $234.67.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, beating the consensus estimate of $1.57 by $0.01. The firm had revenue of $15 billion during the quarter, compared to analyst estimates of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. Broadcom's revenue was up 20.2% on a year-over-year basis. During the same period last year, the firm posted $10.96 EPS. Broadcom has set its Q3 2025 guidance at EPS. On average, equities analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom's payout ratio is 88.39%.

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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