Broadcom Inc. $AVGO Shares Purchased by KMG Fiduciary Partners LLC

Key Points

• KMG Fiduciary Partners LLC increased its shareholding in Broadcom Inc. by 6.1% during Q2, bringing its total stake to $10.87 million, making it the firm's 29th largest position.
• Several analysts have upgraded Broadcom's stock rating, with Wells Fargo setting a new target price of $345 and Mizuho raising theirs to $410.
• Insider transactions reported include CEO Hock E. Tan selling 148,154 shares at an average price of $336.67, resulting in a significant decrease in his ownership.

KMG Fiduciary Partners LLC boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 6.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,435 shares of the semiconductor manufacturer's stock after purchasing an additional 2,282 shares during the period. Broadcom comprises approximately 0.8% of KMG Fiduciary Partners LLC's investment portfolio, making the stock its 29th biggest holding. KMG Fiduciary Partners LLC's holdings in Broadcom were worth $10,870,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Broadcom by 0.4% during the first quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer's stock valued at $79,900,968,000 after purchasing an additional 2,085,534 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Broadcom by 37.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer's stock valued at $10,968,270,000 after purchasing an additional 17,985,046 shares during the period. Nuveen LLC acquired a new position in Broadcom during the first quarter valued at $6,649,117,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Broadcom by 2.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 35,243,467 shares of the semiconductor manufacturer's stock valued at $5,900,814,000 after purchasing an additional 842,088 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Broadcom by 3.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 33,852,310 shares of the semiconductor manufacturer's stock valued at $5,668,134,000 after purchasing an additional 1,043,948 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Kirsten M. Spears sold 7,498 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total value of $2,606,754.68. Following the completion of the sale, the chief financial officer owned 313,330 shares of the company's stock, valued at $108,932,307.80. This represents a 2.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Justine Page sold 800 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $360.00, for a total transaction of $288,000.00. Following the completion of the sale, the director directly owned 22,982 shares of the company's stock, valued at approximately $8,273,520. This trade represents a 3.36% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 3,550 shares of company stock worth $1,227,869 and have sold 790,522 shares worth $224,295,124. Corporate insiders own 2.00% of the company's stock.

Broadcom Price Performance

NASDAQ AVGO traded down $6.15 during trading hours on Monday, hitting $338.79. 28,599,739 shares of the company's stock traded hands, compared to its average volume of 29,009,098. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $374.23. The company has a market capitalization of $1.60 trillion, a PE ratio of 86.43, a PEG ratio of 1.91 and a beta of 1.16. 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 firm's 50-day moving average is $309.32 and its 200-day moving average is $249.20.

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

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be paid a $0.59 dividend. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Broadcom's dividend payout ratio is 60.20%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. UBS Group upped their price objective on shares of Broadcom from $290.00 to $345.00 and gave the stock a "buy" rating in a research report on Monday, August 25th. Morgan Stanley upped their price objective on shares of Broadcom from $338.00 to $357.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 2nd. Wall Street Zen upgraded shares of Broadcom from a "hold" rating to a "buy" rating in a research report on Saturday, September 6th. Arete Research upgraded shares of Broadcom to a "strong-buy" rating in a research report on Monday, July 28th. Finally, Truist Financial upped their price objective on shares of Broadcom from $295.00 to $365.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $356.48.

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.