LeConte Wealth Management LLC Increases Stock Position in Broadcom Inc. $AVGO

Key Points

• LeConte Wealth Management LLC increased its stake in Broadcom Inc. by 62.5% during the 2nd quarter, now holding 5,764 shares valued at approximately $1.59 million.
• Broadcom's recent earnings report showed a quarterly EPS of $1.69, exceeding estimates, along with a revenue increase of 22% year-over-year, totaling $15.95 billion.
• The company has announced a $0.59 quarterly dividend, resulting in an annualized yield of 0.7%, with a payout ratio of 60.20%.

LeConte Wealth Management LLC grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 62.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,764 shares of the semiconductor manufacturer's stock after buying an additional 2,217 shares during the period. Broadcom accounts for approximately 1.1% of LeConte Wealth Management LLC's holdings, making the stock its 18th biggest holding. LeConte Wealth Management LLC's holdings in Broadcom were worth $1,589,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Broadcom by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer's stock valued at $79,900,968,000 after buying an additional 2,085,534 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Broadcom by 37.8% during the 1st 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 acquiring an additional 17,985,046 shares in the last quarter. Nuveen LLC acquired a new position in shares of Broadcom during the 1st quarter valued at $6,649,117,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Broadcom by 2.4% during the 1st 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 acquiring an additional 842,088 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Broadcom by 3.2% during the 1st 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 acquiring an additional 1,043,948 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Price Performance

AVGO opened at $334.53 on Friday. The company has a 50-day moving average of $313.66 and a 200-day moving average of $252.89. The company has a market capitalization of $1.58 trillion, a P/E ratio of 85.34, a PEG ratio of 1.85 and a beta of 1.16. 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 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 for the quarter, topping the consensus estimate of $1.66 by $0.03. The company had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The company's revenue was up 22.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. Equities analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be given 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 payout ratio is presently 60.20%.

Insider Buying and Selling

In other news, insider Charlie B. Kawwas sold 3,893 shares of the business's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total value of $1,354,063.26. Following the completion of the sale, the insider owned 25,295 shares of the company's stock, valued at approximately $8,798,106.90. The trade was a 13.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 16,558 shares of the business's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the completion of the sale, the insider directly owned 329,302 shares of the company's stock, valued at $114,468,668.22. The trade was a 4.79% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have purchased 3,550 shares of company stock worth $1,227,869 and have sold 666,071 shares worth $225,623,008. Company insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AVGO. Citigroup lifted their target price on shares of Broadcom from $315.00 to $350.00 and gave the company a "buy" rating in a report on Friday, September 5th. Benchmark lifted their target price on shares of Broadcom from $315.00 to $385.00 and gave the company a "buy" rating in a report on Friday, September 5th. Wall Street Zen upgraded shares of Broadcom from a "hold" rating to a "buy" rating in a report on Saturday, September 6th. Cantor Fitzgerald restated an "overweight" rating and set a $300.00 target price on shares of Broadcom in a report on Friday, June 6th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Broadcom from $300.00 to $350.00 and gave the company a "buy" rating in a report on Friday, September 5th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Broadcom presently has an average rating of "Buy" and a consensus target price of $356.48.

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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