Magnetar Financial LLC Invests $11.54 Million in Broadcom Inc. $AVGO

Key Points

• Magnetar Financial LLC invested approximately $11.54 million in Broadcom Inc. by acquiring 68,923 shares, indicating strong institutional interest in the semiconductor manufacturer.
• Several analysts have increased their price targets for Broadcom, with Citigroup raising its target from $285 to $315, contributing to a consensus "Buy" rating among analysts.
• Broadcom recently reported a quarterly earnings per share (EPS) of $1.58, slightly above expectations, with the company also declaring a quarterly dividend of $0.59 per share.

Magnetar Financial LLC purchased a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 68,923 shares of the semiconductor manufacturer's stock, valued at approximately $11,540,000.

A number of other institutional investors also recently made changes to their positions in AVGO. Barnes Dennig Private Wealth Management LLC bought a new position in Broadcom during the 1st quarter worth $25,000. Cheviot Value Management LLC acquired a new stake in Broadcom in the 1st quarter worth about $25,000. Inlight Wealth Management LLC bought a new stake in Broadcom in the 1st quarter valued at about $26,000. Sunbeam Capital Management LLC acquired a new position in shares of Broadcom during the 4th quarter worth approximately $28,000. Finally, Vermillion Wealth Management Inc. bought a new position in shares of Broadcom during the fourth quarter worth approximately $30,000. Institutional investors own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on AVGO shares. Citigroup increased their price target on Broadcom from $285.00 to $315.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Erste Group Bank raised shares of Broadcom from a "hold" rating to a "buy" rating in a research report on Thursday, June 5th. Cantor Fitzgerald reissued an "overweight" rating and issued a $300.00 target price on shares of Broadcom in a report on Friday, June 6th. Rosenblatt Securities increased their price target on shares of Broadcom from $223.00 to $340.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Finally, Arete Research upgraded shares of Broadcom to a "strong-buy" rating in a research report on Monday, July 28th. Three analysts have rated the stock with a Strong Buy rating, twenty-six have issued 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 $301.79.

Broadcom Trading Up 2.8%

Shares of AVGO stock opened at $308.65 on Friday. Broadcom Inc. has a twelve month low of $134.90 and a twelve month high of $317.35. The stock's fifty day simple moving average is $286.79 and its 200 day simple moving average is $234.25. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $1.45 trillion, a P/E ratio of 115.60, a P/E/G ratio of 2.14 and a beta of 1.15.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.01. The company had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%.The firm's revenue was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $10.96 earnings per share. Broadcom has set its Q3 2025 guidance at EPS. As a group, sell-side analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, June 20th. Broadcom's dividend payout ratio (DPR) is presently 88.39%.

Insider Activity

In other news, insider Mark David Brazeal sold 50,000 shares of the firm's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $253.28, for a total value of $12,664,000.00. Following the completion of the sale, the insider directly owned 415,956 shares in the company, valued at $105,353,335.68. This trade represents a 10.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Kirsten M. Spears sold 56,310 shares of the business's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $251.75, for a total transaction of $14,176,042.50. Following the sale, the chief financial officer directly owned 361,937 shares of the company's stock, valued at approximately $91,117,639.75. The trade was a 13.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 830,516 shares of company stock valued at $217,286,457. Corporate insiders own 2.00% of the company's stock.

Broadcom Company 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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