Harbour Investments Inc. Boosts Stake in Broadcom Inc. $AVGO

Key Points

• Harbour Investments Inc. increased its stake in Broadcom Inc. by 4.7% during the second quarter, bringing its holdings to 28,337 shares valued at approximately $7.81 million.
• Broadcom's CEO Hock E. Tan sold 148,154 shares of stock for nearly $49.88 million, reducing his ownership by 15.21% to 825,998 shares.
• The company reported a net margin of 31.59% and a year-over-year revenue increase of 22.0%, with quarterly earnings of $1.69 EPS beating estimates.

Harbour Investments Inc. raised its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,337 shares of the semiconductor manufacturer's stock after buying an additional 1,280 shares during the period. Harbour Investments Inc.'s holdings in Broadcom were worth $7,811,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Sawyer & Company Inc raised 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 worth $26,000 after purchasing an additional 36 shares during the period. PFS Partners LLC raised 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 worth $38,000 after purchasing an additional 38 shares during the period. Costello Asset Management INC raised its holdings in shares of Broadcom by 1.5% in the 2nd quarter. Costello Asset Management INC now owns 2,528 shares of the semiconductor manufacturer's stock worth $697,000 after purchasing an additional 38 shares during the period. Waddell & Associates LLC raised its holdings in shares of Broadcom by 2.1% in the 1st quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer's stock worth $350,000 after purchasing an additional 43 shares during the period. Finally, Luts & Greenleigh Group Inc. raised its holdings in shares of Broadcom by 1.3% in the 2nd quarter. Luts & Greenleigh Group Inc. now owns 3,405 shares of the semiconductor manufacturer's stock worth $939,000 after purchasing an additional 44 shares during the period. Institutional investors own 76.43% of the company's stock.

Insider Transactions at Broadcom

In other news, CEO Hock E. Tan sold 148,154 shares of Broadcom stock in a transaction 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 completion of the sale, the chief executive officer directly owned 825,998 shares of the company's stock, valued at approximately $278,088,746.66. The trade was a 15.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 sale, the insider directly owned 329,302 shares of the company's stock, valued at $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 purchased 3,550 shares of company stock worth $1,227,869 and sold 665,271 shares worth $225,464,248. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Down 0.0%

Shares of NASDAQ:AVGO opened at $349.24 on Tuesday. The firm has a fifty day moving average price of $328.64 and a two-hundred day moving average price of $271.47. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. Broadcom Inc. has a one year low of $138.10 and a one year high of $374.23. The company has a market cap of $1.65 trillion, a price-to-earnings ratio of 89.09, a PEG ratio of 1.97 and a beta of 1.20.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced 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. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The firm had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.82 billion. During the same period last year, the firm earned $1.24 EPS. The business's quarterly revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. Analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Monday, September 22nd. Broadcom's dividend payout ratio (DPR) is presently 60.20%.

Analysts Set New Price Targets

AVGO has been the topic of a number of research reports. Weiss Ratings cut shares of Broadcom from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, October 8th. Sanford C. Bernstein lifted their price objective on shares of Broadcom from $295.00 to $400.00 and gave the company an "outperform" rating in a research note on Friday, September 5th. Hsbc Global Res upgraded shares of Broadcom from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 24th. Evercore ISI lifted their price objective on shares of Broadcom from $342.00 to $403.00 and gave the company an "outperform" rating in a research note on Wednesday, October 15th. Finally, UBS Group set a $415.00 price objective on shares of Broadcom and gave the company a "buy" rating in a research note on Tuesday, October 14th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $372.33.

Broadcom 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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