GK Wealth Management LLC bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 1,378 shares of the semiconductor manufacturer's stock, valued at approximately $380,000.
Other large investors also recently made changes to their positions in the company. Waddell & Associates LLC lifted its stake in Broadcom by 2.1% in the first quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer's stock valued at $350,000 after buying an additional 43 shares during the period. Challenger Wealth Management increased its stake in shares of 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 acquiring an additional 45 shares during the last quarter. True Wealth Design LLC increased its stake in shares of Broadcom by 7.2% in the 4th quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock valued at $165,000 after acquiring an additional 48 shares during the last quarter. Wescott Financial Advisory Group LLC raised its position in shares of Broadcom by 3.8% in the 1st quarter. Wescott Financial Advisory Group LLC now owns 1,326 shares of the semiconductor manufacturer's stock valued at $222,000 after acquiring an additional 48 shares during the period. Finally, Martingale Asset Management L P boosted its stake in Broadcom by 1.3% during the 1st quarter. Martingale Asset Management L P now owns 3,876 shares of the semiconductor manufacturer's stock worth $649,000 after acquiring an additional 48 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have commented on AVGO. TD Cowen upped their target price on shares of Broadcom from $355.00 to $370.00 and gave the company a "buy" rating in a research note on Friday, September 5th. Oppenheimer restated an "outperform" rating and issued a $360.00 price objective (up previously from $325.00) on shares of Broadcom in a research report on Friday, September 5th. KeyCorp raised their price objective on Broadcom from $330.00 to $400.00 and gave the stock an "overweight" rating in a research note on Friday, September 5th. Arete Research upgraded Broadcom to a "strong-buy" rating in a report on Monday, July 28th. Finally, Morgan Stanley increased their price target on Broadcom from $338.00 to $357.00 and gave the stock an "overweight" rating in a report on Tuesday, September 2nd. Three analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $354.04.
Check Out Our Latest Analysis on Broadcom
Broadcom Price Performance
AVGO stock opened at $359.87 on Monday. The stock has a 50-day moving average price of $300.31 and a two-hundred day moving average price of $242.50. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $374.23. The stock has a market cap of $1.70 trillion, a PE ratio of 91.80, a price-to-earnings-growth ratio of 1.99 and a beta of 1.16. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86.
Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.Broadcom's revenue for the quarter was up 22.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. Equities analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.
Broadcom Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be paid a dividend of $0.59 per share. 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 dividend payout ratio (DPR) is currently 60.20%.
Insider Buying and Selling
In related news, CEO Hock E. Tan sold 148,154 shares of the firm's stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $336.67, for a total value of $49,879,007.18. Following the completion of the transaction, the chief executive officer owned 825,998 shares of the company's stock, valued at approximately $278,088,746.66. This trade represents a 15.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gayla J. Delly sold 3,000 shares of Broadcom 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 completion of the sale, the director owned 33,352 shares in the company, valued at $8,842,615.76. The trade was a 8.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 3,550 shares of company stock valued at $1,227,869 and sold 850,112 shares valued at $234,654,209. 2.00% of the stock is currently owned by company insiders.
About Broadcom
(
Free Report)
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.
Recommended Stories
Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGO - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Broadcom, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Broadcom wasn't on the list.
While Broadcom currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
