Itau Unibanco Holding S.A. Buys 14,011 Shares of Broadcom Inc. $AVGO

Key Points

• Itau Unibanco Holding S.A. increased its stake in Broadcom Inc. by 17.8% during the first quarter, owning a total of 92,881 shares valued at approximately $15.55 million.
• Analysts have set an average price target of $300.96 for Broadcom, with several brokerages issuing "buy" or "strong-buy" ratings.
• The company recently announced a quarterly dividend of $0.59, resulting in an annualized dividend yield of 0.8%.

Itau Unibanco Holding S.A. increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 17.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 92,881 shares of the semiconductor manufacturer's stock after purchasing an additional 14,011 shares during the quarter. Itau Unibanco Holding S.A.'s holdings in Broadcom were worth $15,551,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. PARUS FINANCE UK Ltd increased its position in shares of Broadcom by 175.3% during 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 last quarter. Keener Financial Planning LLC increased its position in shares of Broadcom by 34.8% during 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 last quarter. Diversify Wealth Management LLC increased its position in shares of Broadcom by 5.6% during 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 last quarter. OMNI 360 Wealth Inc. increased its position in shares of Broadcom by 51.6% during 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 last quarter. Finally, Algert Global LLC increased its position in shares of Broadcom by 8.2% during the 1st quarter. Algert Global LLC now owns 60,976 shares of the semiconductor manufacturer's stock valued at $10,209,000 after purchasing an additional 4,618 shares during the last quarter. Institutional investors own 76.43% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on AVGO. Arete Research raised Broadcom to a "strong-buy" rating in a research report on Monday, July 28th. Evercore ISI reaffirmed an "outperform" rating and issued a $304.00 price objective (up previously from $267.00) on shares of Broadcom in a research report on Friday, June 6th. Cowen reaffirmed a "buy" rating on shares of Broadcom in a research report on Friday, June 6th. Benchmark upped their price objective on Broadcom from $255.00 to $315.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Finally, Morgan Stanley set a $338.00 price objective on Broadcom and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Three analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $300.96.

Insiders Place Their Bets

In other Broadcom news, CFO Kirsten M. Spears sold 36,350 shares of the business's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $261.27, for a total value of $9,497,164.50. Following the completion of the transaction, the chief financial officer directly owned 325,587 shares in the company, valued at approximately $85,066,115.49. The trade was a 10.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Justine Page sold 800 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $307.46, for a total transaction of $245,968.00. Following the sale, the director directly owned 23,782 shares of the company's stock, valued at approximately $7,312,013.72. The trade was a 3.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 830,516 shares of company stock worth $217,286,457. 2.00% of the stock is owned by company insiders.

Broadcom Price Performance

Shares of AVGO stock opened at $300.25 on Thursday. Broadcom Inc. has a twelve month low of $134.90 and a twelve month high of $317.35. The stock has a market capitalization of $1.41 trillion, a price-to-earnings ratio of 112.45, a P/E/G ratio of 2.12 and a beta of 1.15. The stock has a fifty day simple moving average of $285.64 and a two-hundred day simple moving average of $233.74. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.01. Broadcom had a return on equity of 35.49% and a net margin of 22.64%.The business had revenue of $15 billion during the quarter, compared to analysts' expectations of $14.98 billion. During the same period in the prior year, the business earned $10.96 EPS. The business's revenue for the quarter was up 20.2% compared to the same quarter last year. Broadcom has set its Q3 2025 guidance at EPS. On average, analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, June 20th. Broadcom's dividend payout ratio is currently 88.39%.

About Broadcom

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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