Knights of Columbus Asset Advisors LLC Grows Stock Position in Broadcom Inc. $AVGO

Key Points

• Knights of Columbus Asset Advisors LLC increased its stake in Broadcom Inc. by 5.8% during the second quarter, now owning 82,931 shares valued at approximately $22.86 million, making it the 9th largest position in their portfolio.
• Broadcom received positive attention from analysts, with Piper Sandler and Bank of America raising their price targets to $375.00 and $400.00, respectively, reflecting a consensus "Buy" rating with an average target price of $357.22.
• Insider trades included CEO Hock E. Tan selling 100,000 shares for approximately $33.96 million, marking a decrease of 12.11% in his ownership of the company.

Knights of Columbus Asset Advisors LLC grew its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 5.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,931 shares of the semiconductor manufacturer's stock after purchasing an additional 4,527 shares during the period. Broadcom comprises approximately 1.4% of Knights of Columbus Asset Advisors LLC's investment portfolio, making the stock its 9th largest position. Knights of Columbus Asset Advisors LLC's holdings in Broadcom were worth $22,860,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. PARUS FINANCE UK Ltd boosted its stake in shares of Broadcom by 175.3% during the first 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 in the last quarter. Geneos Wealth Management Inc. increased its position in Broadcom by 27.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 64,130 shares of the semiconductor manufacturer's stock valued at $10,737,000 after acquiring an additional 13,978 shares during the period. Asio Capital LLC increased its position in Broadcom by 2.0% in the 2nd quarter. Asio Capital LLC now owns 54,459 shares of the semiconductor manufacturer's stock valued at $15,012,000 after acquiring an additional 1,089 shares during the period. Keener Financial Planning LLC increased its position in Broadcom by 34.8% in the 1st quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer's stock valued at $149,000 after acquiring an additional 230 shares during the period. Finally, Diversify Wealth Management LLC increased its position in Broadcom by 5.6% in the 1st quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer's stock valued at $6,365,000 after acquiring an additional 2,016 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Piper Sandler boosted their price objective on shares of Broadcom from $315.00 to $375.00 and gave the stock an "overweight" rating in a research note on Friday, September 5th. Bank of America lifted their target price on Broadcom from $300.00 to $400.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Macquarie initiated coverage on Broadcom in a research report on Monday, September 15th. They set an "outperform" rating and a $420.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised their price objective on Broadcom from $300.00 to $350.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Finally, Truist Financial increased their target price on shares of Broadcom from $295.00 to $365.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $357.22.

Insider Buying and Selling

In other news, CEO Hock E. Tan sold 100,000 shares of the firm's stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $339.58, for a total value of $33,958,000.00. Following the completion of the sale, the chief executive officer directly owned 725,638 shares in the company, valued at $246,412,152.04. This trade represents a 12.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Mark David Brazeal sold 16,558 shares of the stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total value of $5,755,726.38. Following the completion of the transaction, the insider owned 329,302 shares in the company, valued at approximately $114,468,668.22. The trade was a 4.79% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 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 currently owned by corporate insiders.

Broadcom Price Performance

Broadcom stock opened at $324.63 on Friday. The stock 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. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $374.23. The stock's 50 day moving average price is $322.64 and its two-hundred day moving average price is $262.37. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50.

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

Broadcom Dividend Announcement

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