Lee Financial Co Purchases 1,466 Shares of Broadcom Inc. $AVGO

Key Points

• Lee Financial Co increased its stake in Broadcom Inc. by 6.7%, acquiring an additional 1,466 shares, bringing its total holdings to 23,449 shares valued at approximately $6.46 million.
• Institutional ownership of Broadcom stands at 76.43%, with significant acquisitions made by firms like Nuveen LLC and Price T Rowe Associates.
• Broadcom announced a quarterly dividend of $0.59 per share, translating to an annualized yield of 0.7%, with a current payout ratio of 60.20%.

Lee Financial Co grew its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 6.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,449 shares of the semiconductor manufacturer's stock after acquiring an additional 1,466 shares during the period. Broadcom comprises about 0.9% of Lee Financial Co's portfolio, making the stock its 17th largest holding. Lee Financial Co's holdings in Broadcom were worth $6,464,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Nuveen LLC acquired a new stake in shares of Broadcom during the 1st quarter worth about $6,649,117,000. Price T Rowe Associates Inc. MD lifted its stake 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 worth $10,968,270,000 after buying an additional 17,985,046 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Broadcom by 16.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer's stock worth $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% during the 1st quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer's stock worth $2,638,512,000 after buying an additional 4,245,345 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its stake in shares of Broadcom by 16.0% during the 1st 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 during the last quarter. Institutional investors own 76.43% of the company's stock.

Insider Activity

In other Broadcom news, insider Charlie B. Kawwas sold 3,893 shares of the business's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total transaction of $1,354,063.26. Following the sale, the insider directly owned 25,295 shares of the company's stock, valued at $8,798,106.90. The trade was a 13.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Henry Samueli sold 368,797 shares of the business's stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $337.91, for a total transaction of $124,620,194.27. Following the sale, the director directly owned 37,722,534 shares in the company, valued at $12,746,821,463.94. The trade was a 0.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 3,550 shares of company stock worth $1,227,869 and sold 664,471 shares worth $225,184,128. 2.00% of the stock is owned by insiders.

Broadcom Price Performance

AVGO stock opened at $344.13 on Wednesday. The company has a 50 day simple moving average of $324.84 and a 200 day simple moving average of $265.45. The stock has a market cap of $1.63 trillion, a price-to-earnings ratio of 87.79, a P/E/G ratio of 1.98 and a beta of 1.20. 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.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.66 by $0.03. The business had revenue of $15.95 billion during the quarter, compared to analysts' expectations 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 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors 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 yield of 0.7%. The ex-dividend date was Monday, September 22nd. Broadcom's dividend payout ratio is currently 60.20%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of Broadcom from $255.00 to $345.00 and gave the stock an "equal weight" rating in a research note on Friday, September 5th. Macquarie assumed coverage on shares of Broadcom in a research note on Monday, September 15th. They issued an "outperform" rating and a $420.00 price objective for the company. Hsbc Global Res upgraded shares of Broadcom from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 24th. Evercore ISI reiterated an "outperform" rating and issued a $342.00 price objective (up previously from $304.00) on shares of Broadcom in a research note on Thursday, September 4th. Finally, Piper Sandler lifted 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. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $370.07.

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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