Broadcom Inc. $AVGO Shares Acquired by Gabelli Funds LLC

Key Points

• Gabelli Funds LLC has increased its holdings in Broadcom Inc. by 34% to 256,317 shares, valued at approximately $42.92 million.
• Analysts remain optimistic about Broadcom, with a consensus buy rating and target prices raised by several firms, including UBS Group and Rosenblatt Securities.
• Broadcom recently declared a quarterly dividend of $0.59 per share, indicating a yield of 0.8% and a high dividend payout ratio of 88.39%.

Gabelli Funds LLC raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 34.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 256,317 shares of the semiconductor manufacturer's stock after purchasing an additional 65,034 shares during the period. Gabelli Funds LLC's holdings in Broadcom were worth $42,915,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Waddell & Associates LLC raised its holdings in shares of Broadcom by 2.1% in the first quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer's stock worth $350,000 after buying an additional 43 shares during the last quarter. True Wealth Design LLC raised its holdings in shares of Broadcom by 7.2% in the fourth quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock worth $165,000 after buying an additional 48 shares during the last quarter. Wescott Financial Advisory Group LLC raised its holdings in shares of Broadcom by 3.8% in the first quarter. Wescott Financial Advisory Group LLC now owns 1,326 shares of the semiconductor manufacturer's stock worth $222,000 after buying an additional 48 shares during the last quarter. Martingale Asset Management L P raised its holdings in shares of Broadcom by 1.3% in the first quarter. Martingale Asset Management L P now owns 3,876 shares of the semiconductor manufacturer's stock worth $649,000 after buying an additional 48 shares during the last quarter. Finally, Fulton Breakefield Broenniman LLC raised its holdings in shares of Broadcom by 2.4% in the first quarter. Fulton Breakefield Broenniman LLC now owns 2,130 shares of the semiconductor manufacturer's stock worth $357,000 after buying an additional 50 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of research analyst reports. Barclays raised 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. Citigroup raised their price target on shares of Broadcom from $285.00 to $315.00 and gave the stock a "buy" rating in a report on Monday, July 7th. JPMorgan Chase & Co. raised 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. KeyCorp raised their price target on shares of Broadcom from $315.00 to $330.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Finally, Seaport Res Ptn raised shares of Broadcom to a "strong-buy" rating in a report on Wednesday, April 30th. Three analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Broadcom presently has a consensus rating of "Buy" and a consensus target price of $300.96.

Broadcom Stock Performance

Shares of NASDAQ:AVGO traded up $2.24 during midday trading on Wednesday, reaching $300.25. The company's stock had a trading volume of 13,776,491 shares, compared to its average volume of 18,096,018. The firm has a market capitalization of $1.41 trillion, a PE ratio of 112.45, a P/E/G ratio of 2.12 and a beta of 1.15. Broadcom Inc. has a twelve month low of $134.90 and a twelve month high of $317.35. The stock has a fifty day moving average of $285.64 and a 200 day moving average of $233.74. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, topping analysts' consensus estimates of $1.57 by $0.01. The firm had revenue of $15 billion for 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%. The business's quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $10.96 earnings per share. Broadcom has set its Q3 2025 guidance at EPS. On average, equities analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

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

Insider Activity at Broadcom

In related news, CFO Kirsten M. Spears sold 36,350 shares of the firm's stock in a transaction on 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 sale, the chief financial officer owned 325,587 shares in the company, valued at approximately $85,066,115.49. This trade 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 hyperlink. Also, Director Gayla J. Delly sold 3,000 shares of the firm's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $265.13, for a total transaction of $795,390.00. Following the sale, the director owned 33,352 shares in the company, valued at approximately $8,842,615.76. This represents a 8.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 830,516 shares of company stock valued at $217,286,457 in the last quarter. 2.00% of the stock is currently owned by insiders.

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.