Granite Bay Wealth Management LLC Invests $221,000 in Broadcom Inc. $AVGO

Key Points

• Granite Bay Wealth Management LLC made a significant investment of $221,000 in Broadcom Inc. by purchasing 800 shares during the second quarter.
• Broadcom recently reported quarterly earnings, with EPS of $1.69, surpassing analysts' expectations and demonstrating a 22% year-over-year revenue increase.
• The company announced a quarterly dividend of $0.59 per share, with an annualized yield of 0.7%, indicating a steady return for investors.

Granite Bay Wealth Management LLC purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 800 shares of the semiconductor manufacturer's stock, valued at approximately $221,000.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Broadcom by 0.4% in the first quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer's stock worth $79,900,968,000 after acquiring an additional 2,085,534 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Broadcom by 37.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer's stock valued at $10,968,270,000 after acquiring an additional 17,985,046 shares during the period. Nuveen LLC acquired a new position in Broadcom in the first quarter valued at approximately $6,649,117,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Broadcom by 2.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 35,243,467 shares of the semiconductor manufacturer's stock valued at $5,900,814,000 after acquiring an additional 842,088 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Broadcom by 1.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 34,401,379 shares of the semiconductor manufacturer's stock valued at $7,975,616,000 after acquiring an additional 581,704 shares during the period. Institutional investors own 76.43% of the company's stock.

Broadcom Price Performance

NASDAQ AVGO opened at $359.87 on Monday. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $374.23. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. The firm has a market capitalization of $1.70 trillion, a PE ratio of 91.80, a P/E/G ratio of 1.99 and a beta of 1.16. The company's 50 day simple moving average is $300.31 and its 200 day simple moving average is $242.50.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, beating analysts' consensus estimates of $1.66 by $0.03. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The business had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. During the same quarter last year, the business earned $1.24 earnings per share. The business's revenue for the quarter was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. As a group, equities research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 22nd will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, September 22nd. Broadcom's dividend payout ratio (DPR) is currently 60.20%.

Analyst Ratings Changes

A number of research analysts recently commented on AVGO shares. Argus upped their price objective on Broadcom from $285.00 to $375.00 and gave the stock a "buy" rating in a research note on Monday, September 8th. Rosenblatt Securities upped their price objective on Broadcom from $340.00 to $400.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Wells Fargo & Company upped their price objective on Broadcom from $255.00 to $345.00 and gave the stock an "equal weight" rating in a research note on Friday, September 5th. Bank of America upped their price objective on Broadcom from $300.00 to $400.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Finally, HSBC raised Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price target on the stock in a report on Tuesday, June 24th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Broadcom currently has a consensus rating of "Buy" and a consensus price target of $354.04.

Insider Buying and Selling at Broadcom

In related news, Director Henry Samueli sold 473,898 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the transaction, the director owned 38,188,575 shares in the company, valued at $10,132,574,604.75. This trade represents a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hock E. Tan sold 148,154 shares of the firm's stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $336.67, for a total transaction of $49,879,007.18. Following the transaction, the chief executive officer owned 825,998 shares in the company, valued at $278,088,746.66. This represents a 15.21% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 3,550 shares of company stock valued at $1,227,869 and have sold 850,112 shares valued at $234,654,209. Insiders own 2.00% of the company's stock.

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.

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