FORA Capital LLC Acquires Shares of 42,305 Broadcom Inc. $AVGO

Key Points

• FORA Capital LLC has made a new investment of approximately $7.08 million in Broadcom Inc. by purchasing 42,305 shares, making it one of its significant holdings.
• A number of institutional investors, including Vanguard Group Inc. and Price T Rowe Associates Inc. MD, have also increased their positions in Broadcom, reflecting strong interest in the semiconductor manufacturer.
• Broadcom recently announced a quarterly dividend of $0.59 per share, representing an annualized yield of 0.8%, with a substantial payout ratio of 88.39%.

FORA Capital LLC acquired a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 42,305 shares of the semiconductor manufacturer's stock, valued at approximately $7,083,000. Broadcom makes up 0.7% of FORA Capital LLC's portfolio, making the stock its 25th biggest holding.

Several other hedge funds also recently modified their holdings of AVGO. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Broadcom in the 1st quarter valued at $25,000. Cheviot Value Management LLC bought a new stake in shares of Broadcom in the 1st quarter valued at $25,000. Inlight Wealth Management LLC bought a new stake in shares of Broadcom in the 1st quarter valued at $26,000. Sunbeam Capital Management LLC bought a new stake in Broadcom during the 4th quarter valued at $28,000. Finally, Vermillion Wealth Management Inc. acquired a new position in Broadcom during the fourth quarter worth $30,000. Institutional investors own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several research reports. Seaport Res Ptn upgraded shares of Broadcom to a "strong-buy" rating in a report on Wednesday, April 30th. Wells Fargo & Company upped their price objective on shares of Broadcom from $230.00 to $255.00 and gave the stock an "equal weight" rating in a report on Friday, June 6th. Redburn Atlantic initiated coverage on shares of Broadcom in a report on Wednesday, May 28th. They set a "buy" rating and a $301.00 price objective on the stock. Cantor Fitzgerald restated an "overweight" rating and set a $300.00 price objective on shares of Broadcom in a report on Friday, June 6th. Finally, Morgan Stanley set a $338.00 price objective on shares of Broadcom and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Three analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $300.96.

Insiders Place Their Bets

In related news, CFO Kirsten M. Spears sold 36,350 shares of the stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $261.27, for a total transaction of $9,497,164.50. Following the completion of the transaction, the chief financial officer owned 325,587 shares in the company, valued at approximately $85,066,115.49. This represents a 10.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Henry Samueli sold 473,898 shares of the stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the transaction, the director owned 38,188,575 shares of the company's stock, valued at approximately $10,132,574,604.75. The trade was a 1.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 830,516 shares of company stock worth $217,286,457 in the last ninety days. 2.00% of the stock is owned by corporate insiders.

Broadcom Stock Up 0.8%

AVGO stock traded up $2.24 during trading on Wednesday, reaching $300.25. The stock had a trading volume of 13,776,491 shares, compared to its average volume of 18,096,018. Broadcom Inc. has a one year low of $134.90 and a one year high of $317.35. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. The company's 50 day moving average is $285.64 and its two-hundred day moving average is $233.74. The company has a market capitalization of $1.41 trillion, a price-to-earnings ratio of 112.45, a P/E/G ratio of 2.12 and a beta of 1.15.

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

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom's dividend payout ratio is presently 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.