Kayne Anderson Rudnick Investment Management LLC Has $27.67 Million Holdings in Broadcom Inc. $AVGO

Key Points

• Kayne Anderson Rudnick Investment Management LLC increased its holdings in Broadcom Inc. by 4.1%, totaling $27.67 million in shares after acquiring 6,467 additional shares in the 1st quarter.
• Broadcom reported a 20.2% year-over-year revenue increase for the last quarter, reaching $15 billion, with earnings per share of $1.58, slightly above analysts' expectations.
• The company recently declared a quarterly dividend of $0.59 per share, resulting in an annualized dividend yield of 0.8%, with a payout ratio of 88.39%.

Kayne Anderson Rudnick Investment Management LLC raised its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 165,256 shares of the semiconductor manufacturer's stock after buying an additional 6,467 shares during the period. Kayne Anderson Rudnick Investment Management LLC's holdings in Broadcom were worth $27,669,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Barnes Dennig Private Wealth Management LLC acquired a new stake in Broadcom during the 1st quarter valued at $25,000. Cheviot Value Management LLC bought a new position in shares of Broadcom in the first quarter valued at about $25,000. Inlight Wealth Management LLC bought a new position in shares of Broadcom in the first quarter valued at about $26,000. Sunbeam Capital Management LLC acquired a new stake in shares of Broadcom during the 4th quarter worth about $28,000. Finally, Vermillion Wealth Management Inc. bought a new stake in shares of Broadcom during the 4th quarter worth about $30,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Performance

AVGO opened at $294.00 on Monday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08. Broadcom Inc. has a 52-week low of $134.90 and a 52-week high of $317.35. The firm has a market cap of $1.38 trillion, a P/E ratio of 110.11, a price-to-earnings-growth ratio of 2.09 and a beta of 1.15. The business's fifty day moving average is $282.85 and its 200-day moving average is $232.34.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, beating analysts' consensus estimates of $1.57 by $0.01. The business had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%.Broadcom's revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $10.96 earnings per share. Broadcom has set its Q3 2025 guidance at EPS. Sell-side analysts expect 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 Monday, June 30th. Stockholders of record on Friday, June 20th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom's dividend payout ratio is 88.39%.

Insider Activity at Broadcom

In related news, CEO Hock E. Tan sold 40,000 shares of Broadcom stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $268.29, for a total value of $10,731,600.00. Following the transaction, the chief executive officer directly owned 482,836 shares of the company's stock, valued at $129,540,070.44. This trade represents a 7.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Justine Page sold 800 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $307.46, for a total transaction of $245,968.00. Following the transaction, the director owned 23,782 shares of the company's stock, valued at approximately $7,312,013.72. This represents a 3.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 830,516 shares of company stock worth $217,286,457 in the last 90 days. Corporate insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Piper Sandler increased their price target on shares of Broadcom from $300.00 to $315.00 and gave the company an "overweight" rating in a report on Friday. KeyCorp upped their target price on Broadcom from $315.00 to $330.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Hsbc Global Res upgraded Broadcom from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 24th. Barclays increased their price objective on Broadcom from $215.00 to $265.00 and gave the stock an "overweight" rating in a research report on Monday, June 9th. Finally, Oppenheimer lifted their target price on Broadcom from $265.00 to $305.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $298.67.

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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