Maryland Capital Advisors Inc. Raises Stock Holdings in Broadcom Inc. $AVGO

Key Points

• Maryland Capital Advisors Inc. increased its stake in Broadcom Inc. by 52.7% during the 2nd quarter, owning a total of 2,977 shares valued at approximately $821,000.
• Broadcom recently reported earnings of $1.69 per share, surpassing analysts' estimates and showing a year-over-year revenue increase of 22.0% to $15.95 billion.
• The company set a dividend of $0.59 per share to be paid on September 30th, representing an annual yield of 0.7%.

Maryland Capital Advisors Inc. increased its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 52.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,977 shares of the semiconductor manufacturer's stock after purchasing an additional 1,027 shares during the period. Maryland Capital Advisors Inc.'s holdings in Broadcom were worth $821,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of AVGO. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Broadcom during the 1st quarter valued at $25,000. Cheviot Value Management LLC bought a new position in Broadcom in the first quarter valued at $25,000. Inlight Wealth Management LLC purchased a new stake in Broadcom during the first quarter valued at about $26,000. Sawyer & Company Inc lifted its stake 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 during the last quarter. Finally, Vermillion Wealth Management Inc. purchased a new position in shares of Broadcom in the 4th quarter worth about $30,000. 76.43% of the stock is currently owned by institutional investors.

Broadcom Price Performance

AVGO stock opened at $338.94 on Wednesday. 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 Inc. has a 1 year low of $138.10 and a 1 year high of $374.23. The firm has a 50-day moving average of $310.48 and a 200 day moving average of $249.83. The company has a market cap of $1.60 trillion, a P/E ratio of 86.46, a PEG ratio of 1.87 and a beta of 1.16.

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

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd will be given 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 dividend payout ratio (DPR) is currently 60.20%.

Insider Buying and Selling at Broadcom

In other news, Director Gayla J. Delly sold 3,000 shares of the company's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $265.13, for a total value of $795,390.00. Following the sale, the director directly owned 33,352 shares of the company's stock, valued at $8,842,615.76. This represents a 8.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark David Brazeal sold 16,558 shares of the 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 transaction, the insider owned 329,302 shares of the company's stock, valued at approximately $114,468,668.22. The trade was a 4.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have bought 3,550 shares of company stock valued at $1,227,869 and have sold 240,274 shares valued at $78,571,804. Corporate insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AVGO. HSBC raised Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price objective on the stock in a report on Tuesday, June 24th. UBS Group lifted their price target on shares of Broadcom from $290.00 to $345.00 and gave the stock a "buy" rating in a research note on Monday, August 25th. Truist Financial upped their price objective on shares of Broadcom from $295.00 to $365.00 and gave the company a "buy" rating in a research note on Friday, September 5th. Sanford C. Bernstein increased their target price on shares of Broadcom from $295.00 to $400.00 and gave the company an "outperform" rating in a report on Friday, September 5th. Finally, Oppenheimer reissued an "outperform" rating and issued a $360.00 price target (up from $325.00) on shares of Broadcom in a research note on Friday, September 5th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target 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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