Friday Financial Purchases Shares of 1,328 Broadcom Inc. $AVGO

Key Points

• Friday Financial acquired 1,328 shares of Broadcom Inc., valued at approximately $366,000, in its recent SEC filing.
• Several large investors have also increased their stakes in Broadcom, with institutional investors owning 76.43% of the company's stock.
• Broadcom's CEO recently sold 148,154 shares for nearly $49.9 million, resulting in a 15.21% decrease in his ownership of the company.

Friday Financial acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,328 shares of the semiconductor manufacturer's stock, valued at approximately $366,000.

A number of other large investors also recently made changes to their positions in the company. Sawyer & Company Inc increased its position in Broadcom by 62.1% during the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock worth $26,000 after buying an additional 36 shares during the period. Waddell & Associates LLC increased its position in Broadcom by 2.1% during the first quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer's stock worth $350,000 after acquiring an additional 43 shares during the period. Luts & Greenleigh Group Inc. raised its stake in Broadcom by 1.3% in the 2nd quarter. Luts & Greenleigh Group Inc. now owns 3,405 shares of the semiconductor manufacturer's stock worth $939,000 after purchasing an additional 44 shares in the last quarter. Challenger Wealth Management boosted its holdings 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 purchasing an additional 45 shares during the period. Finally, High Net Worth Advisory Group LLC boosted its holdings in Broadcom by 1.7% in the 2nd quarter. High Net Worth Advisory Group LLC now owns 2,671 shares of the semiconductor manufacturer's stock valued at $736,000 after purchasing an additional 45 shares during the period. Institutional investors own 76.43% of the company's stock.

Analysts Set New Price Targets

AVGO has been the topic of several recent research reports. Piper Sandler raised their target price on shares of Broadcom from $315.00 to $375.00 and gave the stock an "overweight" rating in a report on Friday, September 5th. Arete Research upgraded Broadcom to a "strong-buy" rating in a research note on Monday, July 28th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $340.00 price objective on shares of Broadcom in a report on Wednesday, August 13th. Oppenheimer reiterated an "outperform" rating and set a $360.00 target price (up from $325.00) on shares of Broadcom in a research report on Friday, September 5th. Finally, JPMorgan Chase & Co. raised their price target on Broadcom from $325.00 to $400.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $356.48.

Insider Buying and Selling at Broadcom

In other news, CEO Hock E. Tan sold 148,154 shares of the firm's stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $336.67, for a total transaction of $49,879,007.18. Following the completion of the transaction, the chief executive officer directly owned 825,998 shares in the company, valued at $278,088,746.66. This trade represents a 15.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark David Brazeal sold 16,558 shares of the company's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total value of $5,755,726.38. Following the completion of the sale, the insider owned 329,302 shares in the company, valued at $114,468,668.22. The trade was a 4.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 3,550 shares of company stock worth $1,227,869 and sold 240,274 shares worth $78,571,804. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Up 0.0%

Shares of NASDAQ AVGO opened at $338.94 on Wednesday. The company has a 50 day simple moving average of $310.48 and a 200 day simple moving average of $249.83. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $374.23. The firm has a market cap of $1.60 trillion, a PE ratio of 86.46, a price-to-earnings-growth ratio of 1.87 and a beta of 1.16.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.03. The firm had revenue of $15.95 billion during the quarter, compared to analysts' expectations of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The company's revenue was up 22.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. On average, research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

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

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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