Fortis Capital Advisors LLC Acquires 4,982 Shares of Broadcom Inc. $AVGO

Key Points

• Fortis Capital Advisors LLC has increased its holdings in Broadcom Inc. by 129.1%, acquiring an additional 4,982 shares, bringing its total to 8,842 shares worth $1.48 million.
• Broadcom announced a quarterly dividend of $0.59, translating to an annual yield of 0.7%, with a payout ratio of 60.20%.
• The semiconductor company's stock has a consensus rating of "Buy" from multiple analysts, with target prices raised to as high as $400.

Fortis Capital Advisors LLC grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 129.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,842 shares of the semiconductor manufacturer's stock after buying an additional 4,982 shares during the quarter. Fortis Capital Advisors LLC's holdings in Broadcom were worth $1,480,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC increased its holdings in Broadcom by 21.8% during the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock valued at $6,882,000 after purchasing an additional 5,322 shares during the period. Revolve Wealth Partners LLC lifted its stake in Broadcom by 10.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock worth $1,854,000 after acquiring an additional 756 shares during the period. Bank Pictet & Cie Europe AG boosted its holdings in Broadcom by 16.4% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 221,199 shares of the semiconductor manufacturer's stock valued at $51,283,000 after acquiring an additional 31,225 shares in the last quarter. Lighthouse Investment Partners LLC increased its position in Broadcom by 88.2% during the 4th quarter. Lighthouse Investment Partners LLC now owns 7,529 shares of the semiconductor manufacturer's stock valued at $1,746,000 after purchasing an additional 3,529 shares during the period. Finally, NDVR Inc. increased its position in Broadcom by 10.7% during the 4th quarter. NDVR Inc. now owns 1,753 shares of the semiconductor manufacturer's stock valued at $406,000 after purchasing an additional 170 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Price Performance

AVGO stock opened at $336.67 on Wednesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. The firm has a 50 day moving average price of $294.92 and a 200-day moving average price of $238.95. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $356.34. The firm has a market capitalization of $1.58 trillion, a price-to-earnings ratio of 85.89, a PEG ratio of 1.89 and a beta of 1.16.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.03. The company had revenue of $15.95 billion for the quarter, compared to the consensus estimate of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The firm's quarterly 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 forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

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

Insider Buying and Selling

In related news, CFO Kirsten M. Spears sold 56,310 shares of the stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $251.75, for a total transaction of $14,176,042.50. Following the sale, the chief financial officer directly owned 361,937 shares of the company's stock, valued at approximately $91,117,639.75. This represents a 13.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 50,000 shares of Broadcom stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $253.28, for a total transaction of $12,664,000.00. Following the completion of the transaction, the insider directly owned 415,956 shares of the company's stock, valued at $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. Insiders have sold a total of 820,516 shares of company stock worth $214,757,657 over the last quarter. 2.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of research reports. Cowen reaffirmed a "buy" rating on shares of Broadcom in a research note on Friday, June 6th. HSBC upgraded shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price objective for the company in a report on Tuesday, June 24th. Sanford C. Bernstein upped their target price on Broadcom from $295.00 to $400.00 and gave the stock an "outperform" rating in a report on Friday, September 5th. Bank of America increased their target price on Broadcom from $300.00 to $400.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Finally, Oppenheimer restated an "outperform" rating and set a $360.00 price target (up from $325.00) on shares of Broadcom in a research report on Friday, September 5th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $351.92.

Broadcom Company 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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