Martin Capital Advisors LLP Acquires Shares of 986 Broadcom Inc. $AVGO

Key Points

• Martin Capital Advisors LLP acquired 986 shares of Broadcom Inc. for approximately $272,000 in the second quarter, marking a significant investment in the semiconductor manufacturer.
• Insider sales included CEO Hock E. Tan offloading 148,154 shares for over $49 million, indicating adjustments at the executive level within the company.
• Broadcom's stock price has reached above $400 for the first time, with positive changes in ratings from various analysts, increasing the consensus rating to a "Buy" with an average price target of $356.48.

Martin Capital Advisors LLP bought a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 986 shares of the semiconductor manufacturer's stock, valued at approximately $272,000.

A number of other institutional investors and hedge funds have also made changes to their positions in AVGO. Sawyer & Company Inc raised its holdings in Broadcom by 62.1% during the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock worth $26,000 after purchasing an additional 36 shares in the last quarter. Waddell & Associates LLC raised its holdings in Broadcom by 2.1% during the first quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer's stock worth $350,000 after purchasing an additional 43 shares in the last quarter. Luts & Greenleigh Group Inc. raised its holdings in Broadcom by 1.3% during the second quarter. Luts & Greenleigh Group Inc. now owns 3,405 shares of the semiconductor manufacturer's stock worth $939,000 after purchasing an additional 44 shares in the last quarter. Challenger Wealth Management raised its holdings in Broadcom by 1.3% during the first quarter. Challenger Wealth Management now owns 3,504 shares of the semiconductor manufacturer's stock worth $587,000 after purchasing an additional 45 shares in the last quarter. Finally, High Net Worth Advisory Group LLC raised its holdings in Broadcom by 1.7% during the second quarter. High Net Worth Advisory Group LLC now owns 2,671 shares of the semiconductor manufacturer's stock worth $736,000 after purchasing an additional 45 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Mark David Brazeal sold 16,558 shares of Broadcom stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the sale, the insider 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Hock E. Tan sold 148,154 shares of Broadcom stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $336.67, for a total transaction of $49,879,007.18. Following the sale, the chief executive officer directly owned 825,998 shares in the company, valued at $278,088,746.66. This trade represents a 15.21% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have bought 3,550 shares of company stock worth $1,227,869 and have sold 197,274 shares worth $67,044,814. Corporate insiders own 2.00% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Macquarie assumed coverage on shares of Broadcom in a report on Monday, September 15th. They set an "outperform" rating and a $420.00 price target for the company. Hsbc Global Res raised shares of Broadcom from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 24th. Bank of America increased their price target on shares of Broadcom from $300.00 to $400.00 and gave the stock a "buy" rating in a report on Friday, September 5th. TD Cowen increased their target price on shares of Broadcom from $355.00 to $370.00 and gave the company a "buy" rating in a report on Friday, September 5th. Finally, Benchmark increased 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. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $356.48.

Broadcom Stock Up 0.1%

Shares of AVGO opened at $339.31 on Thursday. The firm has a market cap of $1.60 trillion, a PE ratio of 86.56, a price-to-earnings-growth ratio of 1.87 and a beta of 1.16. The company's fifty day moving average is $311.64 and its two-hundred day moving average is $250.44. Broadcom Inc. has a fifty-two week low of $138.10 and a fifty-two week high of $374.23. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86.

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

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 22nd will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $2.36 annualized dividend and a yield of 0.7%. Broadcom's payout ratio is 60.20%.

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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