Gradient Capital Advisors LLC increased its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 31.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 12,704 shares of the semiconductor manufacturer's stock after purchasing an additional 3,004 shares during the period. Gradient Capital Advisors LLC's holdings in Broadcom were worth $3,502,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Sawyer & Company Inc lifted its holdings in shares of Broadcom by 62.1% in the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock valued at $26,000 after purchasing an additional 36 shares during the last quarter. Legend Financial Advisors Inc. purchased a new stake in shares of Broadcom in the 2nd quarter valued at about $28,000. Maseco LLP purchased a new stake in shares of Broadcom in the 2nd quarter valued at about $34,000. PFS Partners LLC lifted its holdings in shares of Broadcom by 38.4% in the 2nd quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer's stock valued at $38,000 after purchasing an additional 38 shares during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Broadcom in the 1st quarter valued at about $25,000. 76.43% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on AVGO shares. Bank of America boosted their target price on Broadcom from $300.00 to $400.00 and gave the company a "buy" rating in a report on Friday, September 5th. Benchmark boosted their price target on Broadcom from $315.00 to $385.00 and gave the company a "buy" rating 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 company an "overweight" rating in a research report on Friday, September 5th. Arete Research upgraded Broadcom to a "strong-buy" rating in a research report on Monday, July 28th. Finally, Erste Group Bank upgraded Broadcom from a "hold" rating to a "buy" rating in a research report on Thursday, June 5th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $356.48.
Check Out Our Latest Report on Broadcom
Insider Activity at Broadcom
In related news, insider Mark David Brazeal sold 16,558 shares of Broadcom stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the completion of the transaction, the insider directly owned 329,302 shares of the company's stock, valued at approximately $114,468,668.22. The trade was a 4.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Hock E. Tan sold 148,154 shares of Broadcom stock in a transaction 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 transaction, the chief executive officer directly owned 825,998 shares of the company's stock, valued at approximately $278,088,746.66. This represents a 15.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have acquired 3,550 shares of company stock worth $1,227,869 and have sold 666,071 shares worth $225,623,008. Company insiders own 2.00% of the company's stock.
Broadcom Stock Performance
NASDAQ AVGO opened at $327.90 on Tuesday. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. The business's 50 day moving average is $314.46 and its two-hundred day moving average is $254.25. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $374.23. The stock has a market capitalization of $1.55 trillion, a price-to-earnings ratio of 83.65, a PEG ratio of 1.85 and a beta of 1.16.
Broadcom (NASDAQ:AVGO - Get Free Report) last released its 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 36.60% and a net margin of 31.59%.The company had revenue of $15.95 billion for the quarter, compared to analysts' expectations of $15.82 billion. During the same quarter in the previous year, the firm posted $1.24 EPS. The firm's quarterly revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. Research analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.
Broadcom Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd will be given a dividend of $0.59 per share. The ex-dividend date is Monday, September 22nd. This represents a $2.36 annualized dividend and a yield of 0.7%. Broadcom's payout ratio is presently 60.20%.
Broadcom Profile
(
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.
See Also
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