Lecap Asset Management Ltd. Has $622,000 Stock Holdings in Broadcom Inc. $AVGO

Key Points

• Lecap Asset Management Ltd. significantly reduced its holdings in Broadcom Inc. by 86.5%, now owning 2,257 shares valued at approximately $622,000 after selling 14,466 shares in the second quarter.
• Several institutional investors, including Nuveen LLC and Price T Rowe Associates Inc., increased their stakes in Broadcom, with Price T Rowe raising its position by 37.8%, now owning over 65 million shares valued at nearly $11 billion.
• Broadcom's stock received multiple upgrades from brokerages, with target prices ranging from $350 to $400, reflecting a consensus rating of "Buy" and an average target price of $357.22.

Lecap Asset Management Ltd. decreased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 86.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,257 shares of the semiconductor manufacturer's stock after selling 14,466 shares during the quarter. Lecap Asset Management Ltd.'s holdings in Broadcom were worth $622,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new position in Broadcom during the 1st quarter valued at $6,649,117,000. Price T Rowe Associates Inc. MD raised its position in shares of 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 buying an additional 17,985,046 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Broadcom by 16.7% during the first quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer's stock valued at $5,333,384,000 after buying an additional 4,550,647 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of Broadcom by 36.9% in the first quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer's stock valued at $2,638,512,000 after buying an additional 4,245,345 shares during the period. Finally, Alliancebernstein L.P. grew its position in Broadcom by 16.0% during the first quarter. Alliancebernstein L.P. now owns 29,513,814 shares of the semiconductor manufacturer's stock worth $4,941,498,000 after buying an additional 4,077,910 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AVGO. 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. Truist Financial raised their target price on Broadcom from $295.00 to $365.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. JPMorgan Chase & Co. lifted their price target on shares of Broadcom from $325.00 to $400.00 and gave the stock an "overweight" rating in a research note on Friday, September 5th. Wells Fargo & Company boosted their price target on shares of Broadcom from $255.00 to $345.00 and gave the company an "equal weight" rating in a report on Friday, September 5th. Finally, Citigroup raised their price objective on shares of Broadcom from $315.00 to $350.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $357.22.

Broadcom Stock Performance

Broadcom stock opened at $335.49 on Tuesday. The firm has a market capitalization of $1.58 trillion, a P/E ratio of 85.58, a P/E/G ratio of 1.87 and a beta of 1.20. The stock has a fifty day moving average price of $319.25 and a two-hundred day moving average price of $259.24. Broadcom Inc. has a 52-week low of $138.10 and a 52-week 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.

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

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were issued a dividend of $0.59 per share. The ex-dividend date of this dividend 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 presently 60.20%.

Insider Buying and Selling

In other Broadcom news, Director Henry Samueli sold 368,797 shares of Broadcom stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $337.91, for a total value of $124,620,194.27. Following the completion of the transaction, the director owned 37,722,534 shares in the company, valued at approximately $12,746,821,463.94. The trade was a 0.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 3,893 shares of the business's stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total value 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 disclosure for this sale can be found here. In the last ninety days, insiders have purchased 3,550 shares of company stock valued at $1,227,869 and have sold 666,071 shares valued at $225,623,008. 2.00% of the stock is currently owned by insiders.

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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