Kercheville Advisors LLC Raises Stock Holdings in Broadcom Inc. $AVGO

Key Points

• Kercheville Advisors LLC increased its holdings in Broadcom Inc. by 157.0% in the second quarter, now owning 6,103 shares valued at $1,682,000.
• Multiple analysts raised their price targets for Broadcom, with Barclays setting a new target at $400.00, reflecting a strong bullish sentiment towards the stock.
• Insider sales have occurred recently, including CEO Hock E. Tan who sold 148,154 shares valued at approximately $49.9 million, indicating a significant decrease in their ownership stake.

Kercheville Advisors LLC grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 157.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,103 shares of the semiconductor manufacturer's stock after purchasing an additional 3,728 shares during the quarter. Kercheville Advisors LLC's holdings in Broadcom were worth $1,682,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Sawyer & Company Inc increased its holdings in 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 acquiring an additional 36 shares in the last quarter. PFS Partners LLC increased its holdings in 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 acquiring an additional 38 shares in the last quarter. Waddell & Associates LLC increased its holdings in 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 acquiring an additional 43 shares in the last quarter. Luts & Greenleigh Group Inc. increased its holdings in 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 acquiring an additional 44 shares in the last quarter. Finally, Challenger Wealth Management increased its holdings in Broadcom by 1.3% in the 1st quarter. Challenger Wealth Management now owns 3,504 shares of the semiconductor manufacturer's stock worth $587,000 after acquiring an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on AVGO shares. Barclays increased their target price on shares of Broadcom from $265.00 to $400.00 and gave the stock an "overweight" rating in a report on Friday, September 5th. Truist Financial increased their target price on shares of Broadcom from $295.00 to $365.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Hsbc Global Res raised shares of Broadcom from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 24th. UBS Group increased their target price on shares of Broadcom from $290.00 to $345.00 and gave the stock a "buy" rating in a report on Monday, August 25th. Finally, TD Cowen upped their price target on Broadcom from $355.00 to $370.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Broadcom has an average rating of "Buy" and a consensus price target of $357.22.

Insider Activity

In other news, insider Charlie B. Kawwas sold 3,893 shares of the stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total transaction of $1,354,063.26. Following the completion of the transaction, the insider directly owned 25,295 shares in the company, valued at approximately $8,798,106.90. This represents a 13.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 148,154 shares of the stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $336.67, for a total value of $49,879,007.18. Following the transaction, the chief executive officer owned 825,998 shares of the company's stock, valued at $278,088,746.66. This represents a 15.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 3,550 shares of company stock worth $1,227,869 and sold 666,071 shares worth $225,623,008. 2.00% of the stock is owned by insiders.

Broadcom Trading Down 5.9%

AVGO stock opened at $324.63 on Friday. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $374.23. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. The company has a market capitalization of $1.53 trillion, a price-to-earnings ratio of 82.81, a PEG ratio of 1.91 and a beta of 1.20. The business has a 50 day simple moving average of $322.64 and a two-hundred day simple moving average of $262.37.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, beating analysts' consensus estimates of $1.66 by $0.03. The firm had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The company's quarterly revenue was up 22.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. Research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Monday, September 22nd. Broadcom's dividend payout ratio is currently 60.20%.

Broadcom Company 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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