Global Wealth Management LLC bought a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 750 shares of the semiconductor manufacturer's stock, valued at approximately $207,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sawyer & Company Inc grew its stake in Broadcom by 62.1% in the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock valued at $26,000 after purchasing an additional 36 shares in the last quarter. Maseco LLP acquired a new stake in shares of Broadcom in the second quarter worth about $34,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Broadcom in the first quarter worth about $25,000. Cheviot Value Management LLC acquired a new stake in shares of Broadcom in the first quarter worth about $25,000. Finally, Inlight Wealth Management LLC acquired a new stake in shares of Broadcom in the first quarter worth about $26,000. Hedge funds and other institutional investors own 76.43% of the company's stock.
Insider Transactions at Broadcom
In other Broadcom news, CEO Hock E. Tan sold 148,154 shares of the company's stock in a transaction that occurred on Wednesday, September 10th. The stock was 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 $278,088,746.66. This represents a 15.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 approximately $114,468,668.22. This represents 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 have acquired 3,550 shares of company stock worth $1,227,869 and have sold 666,071 shares worth $225,623,008. Insiders own 2.00% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have weighed in on the company. Oppenheimer reaffirmed an "outperform" rating and issued a $360.00 price target (up previously from $325.00) on shares of Broadcom in a research report on Friday, September 5th. Piper Sandler boosted their price target on Broadcom from $315.00 to $375.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. Argus boosted their price target on Broadcom from $285.00 to $375.00 and gave the stock a "buy" rating in a research report on Monday, September 8th. Morgan Stanley boosted their price target on Broadcom from $338.00 to $357.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 2nd. Finally, Truist Financial boosted their price target on Broadcom from $295.00 to $365.00 and gave the stock a "buy" 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 company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $356.48.
Check Out Our Latest Analysis on Broadcom
Broadcom Trading Down 0.5%
Broadcom stock opened at $334.53 on Friday. The business has a 50 day moving average price of $313.66 and a two-hundred day moving average price of $252.89. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86. The stock has a market cap of $1.58 trillion, a price-to-earnings ratio of 85.34, a price-to-earnings-growth ratio of 1.85 and a beta of 1.16. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $374.23.
Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 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 return on equity of 36.60% and a net margin of 31.59%.The company's revenue for the quarter was up 22.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. As a group, equities analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.
Broadcom Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd will be issued a $0.59 dividend. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $2.36 annualized dividend and a yield of 0.7%. Broadcom's dividend payout ratio is 60.20%.
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.
Further Reading
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