Legacy Financial Strategies LLC Has $1.19 Million Stock Position in Broadcom Inc. $AVGO

Key Points

• Legacy Financial Strategies LLC has increased its stake in Broadcom Inc. by 114.2%, now holding shares worth approximately $1.19 million.
• Broadcom's quarterly earnings exceeded expectations, reporting $1.69 EPS and $15.95 billion in revenue, marking a 22% year-over-year increase.
• The company announced a quarterly dividend of $0.59, with an upcoming payment date on September 30th, resulting in an annualized yield of 0.7%.

Legacy Financial Strategies LLC boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 114.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 4,312 shares of the semiconductor manufacturer's stock after purchasing an additional 2,299 shares during the period. Legacy Financial Strategies LLC's holdings in Broadcom were worth $1,189,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. PARUS FINANCE UK Ltd lifted its holdings in shares of Broadcom by 175.3% in the 1st quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer's stock valued at $16,840,000 after buying an additional 64,038 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of Broadcom by 27.9% in the first quarter. Geneos Wealth Management Inc. now owns 64,130 shares of the semiconductor manufacturer's stock valued at $10,737,000 after purchasing an additional 13,978 shares in the last quarter. Keener Financial Planning LLC lifted its holdings in shares of Broadcom by 34.8% in the first quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer's stock valued at $149,000 after purchasing an additional 230 shares in the last quarter. Diversify Wealth Management LLC lifted its holdings in shares of Broadcom by 5.6% in the first quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer's stock valued at $6,365,000 after purchasing an additional 2,016 shares in the last quarter. Finally, Acorns Advisers LLC lifted its holdings in shares of Broadcom by 24.3% in the first quarter. Acorns Advisers LLC now owns 4,184 shares of the semiconductor manufacturer's stock valued at $701,000 after purchasing an additional 818 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Price Performance

Shares of NASDAQ:AVGO traded down $0.41 during trading hours on Friday, hitting $344.94. 41,147,297 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's fifty day simple moving average is $308.05 and its two-hundred day simple moving average is $248.20. The company has a market cap of $1.63 trillion, a price-to-earnings ratio of 87.99, a price-to-earnings-growth ratio of 1.91 and a beta of 1.16. 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 announced its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS 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 analysts' expectations of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The business's revenue for the quarter was up 22.0% on a year-over-year basis. During the same period last year, the company posted $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. As a group, equities analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

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 given a $0.59 dividend. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom's dividend payout ratio (DPR) is currently 60.20%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AVGO. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Broadcom from $300.00 to $350.00 and gave the company a "buy" rating in a research note on Friday, September 5th. Macquarie began coverage on shares of Broadcom in a research note on Monday, September 15th. They set an "outperform" rating and a $420.00 price objective on the stock. Susquehanna upped their price target on shares of Broadcom from $280.00 to $300.00 and gave the stock a "positive" rating in a research report on Friday, June 6th. Arete Research raised shares of Broadcom to a "strong-buy" rating in a research report on Monday, July 28th. Finally, Rosenblatt Securities upped their price target on shares of Broadcom from $340.00 to $400.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Broadcom has a consensus rating of "Buy" and an average price target of $356.48.

Insiders Place Their Bets

In other news, CFO Kirsten M. Spears sold 7,498 shares of the firm's stock in a transaction 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 sale, the chief financial officer owned 313,330 shares in the company, valued at approximately $108,932,307.80. This trade represents a 2.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Charlie B. Kawwas sold 3,893 shares of Broadcom stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total transaction of $1,354,063.26. Following the sale, the insider owned 25,295 shares in the company, valued at $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 90 days, insiders have acquired 3,550 shares of company stock valued at $1,227,869 and have sold 840,522 shares valued at $236,959,124. Insiders own 2.00% of the company's stock.

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.