HWG Holdings LP cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 97.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 576 shares of the semiconductor manufacturer's stock after selling 18,749 shares during the quarter. HWG Holdings LP's holdings in Broadcom were worth $96,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Broadcom by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer's stock worth $110,155,206,000 after acquiring an additional 6,573,204 shares during the last quarter. Geode Capital Management LLC increased its stake in Broadcom by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 102,207,120 shares of the semiconductor manufacturer's stock worth $23,647,209,000 after acquiring an additional 3,018,294 shares during the last quarter. FMR LLC increased its stake in Broadcom by 3.2% during the fourth quarter. FMR LLC now owns 93,274,317 shares of the semiconductor manufacturer's stock worth $21,624,718,000 after acquiring an additional 2,873,809 shares during the last quarter. Norges Bank acquired a new stake in Broadcom during the fourth quarter worth about $16,893,010,000. Finally, Northern Trust Corp increased its stake in Broadcom by 12.0% during the fourth quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer's stock worth $11,380,411,000 after acquiring an additional 5,258,925 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several brokerages have commented on AVGO. Erste Group Bank upgraded Broadcom from a "hold" rating to a "buy" rating in a research note on Thursday, June 5th. Susquehanna upped their price target on Broadcom from $280.00 to $300.00 and gave the stock a "positive" rating in a research note on Friday, June 6th. Morgan Stanley increased their target price on Broadcom from $260.00 to $270.00 and gave the company an "overweight" rating in a research note on Friday, June 6th. Rosenblatt Securities increased their target price on Broadcom from $223.00 to $340.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Finally, Wells Fargo & Company increased their target price on Broadcom from $230.00 to $255.00 and gave the company an "equal weight" rating in a research note on Friday, June 6th. Three investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $276.09.
Get Our Latest Analysis on Broadcom
Insiders Place Their Bets
In related news, insider Charlie B. Kawwas sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $252.88, for a total value of $2,528,800.00. Following the sale, the insider now owns 789,784 shares of the company's stock, valued at approximately $199,720,577.92. This trade represents a 1.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 117,758 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 1,014,152 shares in the company, valued at approximately $256,489,182.32. This trade represents a 10.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 819,134 shares of company stock valued at $157,921,449 in the last quarter. Insiders own 2.00% of the company's stock.
Broadcom Trading Down 0.5%
NASDAQ:AVGO opened at $249.99 on Monday. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. The business's 50 day moving average is $220.48 and its two-hundred day moving average is $212.76. Broadcom Inc. has a 52 week low of $128.50 and a 52 week high of $265.43. The company has a market cap of $1.18 trillion, a PE ratio of 93.63, a P/E/G ratio of 1.78 and a beta of 1.11.
Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, topping analysts' consensus estimates of $1.57 by $0.01. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The company had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.98 billion. During the same quarter last year, the business posted $10.96 EPS. Broadcom's quarterly revenue was up 20.2% compared to the same quarter last year. On average, analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.
Broadcom Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date is Friday, June 20th. Broadcom's dividend payout ratio is presently 88.39%.
Broadcom announced that its Board of Directors has initiated a stock repurchase program on Monday, April 7th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.
Broadcom Company 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.
Read More
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Broadcom, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Broadcom wasn't on the list.
While Broadcom currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of ten stocks that are set to soar in Summer 2025, despite the threat of tariffs and other economic uncertainty. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
Get This Free Report
