Kanawha Capital Management LLC Has $7.98 Million Stock Holdings in Broadcom Inc. $AVGO

Key Points

• Kanawha Capital Management LLC increased its stake in Broadcom Inc. by 7.6%, bringing its holdings to $7.98 million as of the latest SEC filing.
• Multiple analysts have set price targets for Broadcom, with KeyCorp's target at $460, suggesting a potential 30% upside for the stock.
• Insider trading activity includes significant sales by company directors, with Mark David Brazeal selling shares worth $5.76 million and Henry Samueli selling shares worth $124.62 million.

Kanawha Capital Management LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 7.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 28,951 shares of the semiconductor manufacturer's stock after buying an additional 2,038 shares during the quarter. Kanawha Capital Management LLC's holdings in Broadcom were worth $7,980,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Sawyer & Company Inc increased its stake in shares of Broadcom by 62.1% during 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 last quarter. PFS Partners LLC increased its stake in shares of Broadcom by 38.4% during 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 last quarter. Costello Asset Management INC increased its stake in shares of Broadcom by 1.5% during 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 last quarter. Waddell & Associates LLC increased its stake in shares of Broadcom by 2.1% during 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 last quarter. Finally, Luts & Greenleigh Group Inc. increased its stake in shares of Broadcom by 1.3% during 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 last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Morgan Stanley set a $409.00 price target on shares of Broadcom and gave the stock an "overweight" rating in a research note on Tuesday, October 14th. Benchmark increased their price target on shares of Broadcom from $315.00 to $385.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. KeyCorp set a $460.00 price target on shares of Broadcom in a research note on Monday, October 13th. Oppenheimer reaffirmed an "outperform" rating and set a $360.00 price objective (up from $325.00) on shares of Broadcom in a report on Friday, September 5th. Finally, UBS Group set a $415.00 price objective on shares of Broadcom and gave the stock a "buy" rating in a report on Tuesday, October 14th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $372.52.

Insider Transactions at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 16,558 shares of the stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total value of $5,755,726.38. Following the completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Henry Samueli sold 368,797 shares of the stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $337.91, for a total transaction of $124,620,194.27. Following the completion of the sale, the director directly owned 37,722,534 shares of the company's stock, valued at approximately $12,746,821,463.94. This trade represents a 0.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 3,550 shares of company stock worth $1,227,869 and sold 665,271 shares worth $225,464,248. Company insiders own 2.00% of the company's stock.

Broadcom Price Performance

NASDAQ AVGO opened at $344.29 on Friday. 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 company has a fifty day simple moving average of $330.52 and a 200 day simple moving average of $273.74. The company has a market cap of $1.63 trillion, a P/E ratio of 87.83, a P/E/G ratio of 1.92 and a beta of 1.20. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $374.23.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share 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 firm had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.82 billion. During the same period in the prior year, the firm earned $1.24 EPS. The business's revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. On average, sell-side analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The business 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. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Broadcom's dividend payout ratio is 60.20%.

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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