Gotham Asset Management LLC Purchases 54,818 Shares of Broadcom Inc. $AVGO

Key Points

• Gotham Asset Management LLC increased its stake in Broadcom Inc. by 25.5%, acquiring an additional 54,818 shares to hold a total of 270,076 shares valued at approximately $45.2 million.
• Broadcom has received positive ratings from analysts, with a consensus rating of "Buy" and an average target price of $304.17, indicating expectations for growth in the company's stock value.
• The company recently declared a quarterly dividend of $0.59, yielding about 0.8%, with an annual payout expected to total $2.36 per share.

Gotham Asset Management LLC increased its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 25.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 270,076 shares of the semiconductor manufacturer's stock after acquiring an additional 54,818 shares during the quarter. Broadcom comprises about 0.4% of Gotham Asset Management LLC's investment portfolio, making the stock its 14th biggest position. Gotham Asset Management LLC's holdings in Broadcom were worth $45,219,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. PARUS FINANCE UK Ltd boosted its holdings in Broadcom by 175.3% in the 1st quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer's stock valued at $16,840,000 after purchasing an additional 64,038 shares during the period. Keener Financial Planning LLC boosted its holdings in Broadcom by 34.8% in the 1st quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer's stock valued at $149,000 after purchasing an additional 230 shares during the period. Diversify Wealth Management LLC boosted its holdings in Broadcom by 5.6% in the 1st quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer's stock valued at $6,365,000 after purchasing an additional 2,016 shares during the period. OMNI 360 Wealth Inc. boosted its holdings in Broadcom by 51.6% in the 1st quarter. OMNI 360 Wealth Inc. now owns 2,980 shares of the semiconductor manufacturer's stock valued at $499,000 after purchasing an additional 1,014 shares during the period. Finally, Gamco Investors INC. ET AL boosted its holdings in Broadcom by 1.3% in the 1st quarter. Gamco Investors INC. ET AL now owns 54,406 shares of the semiconductor manufacturer's stock valued at $9,109,000 after purchasing an additional 700 shares during the period. Institutional investors own 76.43% of the company's stock.

Broadcom Trading Up 9.4%

Shares of AVGO stock traded up $28.79 on Friday, reaching $334.89. 78,318,626 shares of the stock were exchanged, compared to its average volume of 17,635,120. Broadcom Inc. has a one year low of $134.90 and a one year high of $356.34. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. The stock has a market cap of $1.58 trillion, a PE ratio of 85.43, a P/E/G ratio of 2.38 and a beta of 1.16. The stock has a 50 day moving average price of $292.09 and a 200 day moving average price of $237.25.

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 (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.03. Broadcom had a return on equity of 37.17% and a net margin of 31.59%.The business had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. During the same period last year, the company earned $1.24 EPS. The firm's revenue was up 22.0% on a year-over-year basis. 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 22nd will be issued a dividend of $0.59 per share. The ex-dividend date is Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Broadcom's payout ratio is currently 88.39%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AVGO. TD Cowen boosted their price target on shares of Broadcom from $355.00 to $370.00 and gave the company a "buy" rating in a report on Friday. Redburn Atlantic began coverage on shares of Broadcom in a report on Wednesday, May 28th. They issued a "buy" rating and a $301.00 price target on the stock. Evercore ISI reissued an "outperform" rating and issued a $342.00 price target (up previously from $304.00) on shares of Broadcom in a report on Thursday. KeyCorp boosted their price target on shares of Broadcom from $330.00 to $400.00 and gave the company an "overweight" rating in a report on Friday. Finally, Oppenheimer reissued an "outperform" rating and issued a $360.00 price target (up previously from $325.00) on shares of Broadcom in a report on Friday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, Broadcom currently has a consensus rating of "Buy" and an average target price of $351.00.

Insider Activity

In other Broadcom news, CFO Kirsten M. Spears sold 56,310 shares of Broadcom stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $251.75, for a total transaction of $14,176,042.50. Following the transaction, the chief financial officer directly owned 361,937 shares in the company, valued at approximately $91,117,639.75. The trade was a 13.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Hock E. Tan sold 117,758 shares of Broadcom stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $252.91, for a total value of $29,782,175.78. Following the transaction, the chief executive officer owned 1,014,152 shares in the company, valued at approximately $256,489,182.32. This represents a 10.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 830,516 shares of company stock valued at $217,286,457. 2.00% of the stock is currently owned by company insiders.

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.