Mengis Capital Management Inc. Has $2.28 Million Holdings in Broadcom Inc. $AVGO

Key Points

• Mengis Capital Management Inc. increased its holdings in Broadcom Inc. by 40.2% during the second quarter, owning 8,259 shares valued at approximately $2.28 million.
• Broadcom's latest quarterly earnings report showed an EPS of $1.69, beating the consensus estimate of $1.66, alongside a 22% year-over-year revenue increase to $15.95 billion.
• The company declared a quarterly dividend of $0.59, resulting in an annualized yield of 0.7%, with a payout ratio of 60.20%.

Mengis Capital Management Inc. lifted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 40.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,259 shares of the semiconductor manufacturer's stock after purchasing an additional 2,370 shares during the period. Mengis Capital Management Inc.'s holdings in Broadcom were worth $2,277,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Barnes Dennig Private Wealth Management LLC acquired a new position in Broadcom during the 1st quarter worth $25,000. Cheviot Value Management LLC acquired a new position in Broadcom during the 1st quarter worth $25,000. Inlight Wealth Management LLC acquired a new position in Broadcom during the 1st quarter worth $26,000. Sawyer & Company Inc lifted its position in Broadcom by 62.1% during the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock worth $26,000 after acquiring an additional 36 shares during the last quarter. Finally, Legend Financial Advisors Inc. acquired a new position in Broadcom during the 2nd quarter worth $28,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Stock Up 2.1%

Shares of AVGO opened at $351.33 on Thursday. The stock has a market cap of $1.66 trillion, a price-to-earnings ratio of 89.63, a P/E/G ratio of 1.91 and a beta of 1.20. 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 Inc. has a 12 month low of $138.10 and a 12 month high of $374.23. The company has a 50-day moving average price of $325.83 and a two-hundred day moving average price of $266.04.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, beating the consensus estimate of $1.66 by $0.03. The business had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.Broadcom's quarterly revenue was up 22.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. Equities 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 Tuesday, September 30th. Investors of record on Monday, September 22nd were paid a $0.59 dividend. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $2.36 annualized dividend and a yield of 0.7%. Broadcom's payout ratio is currently 60.20%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on AVGO shares. UBS Group set a $415.00 target price on shares of Broadcom and gave the stock a "buy" rating in a research report on Tuesday. Argus boosted their target price on shares of Broadcom from $285.00 to $375.00 and gave the stock a "buy" rating in a research report on Monday, September 8th. HSBC raised shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 target price for the company in a research report on Tuesday, June 24th. Truist Financial boosted their target price on shares of Broadcom from $295.00 to $365.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Finally, Deutsche Bank Aktiengesellschaft set a $400.00 price objective on shares of Broadcom and gave the company a "buy" rating in a research report on Tuesday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $372.33.

Insiders Place Their Bets

In other Broadcom news, CFO Kirsten M. Spears sold 7,498 shares of the company's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the sale, the chief financial officer directly owned 313,330 shares of the company's stock, valued at approximately $108,932,307.80. This represents a 2.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark David Brazeal sold 16,558 shares of the company's 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 sale, the insider directly owned 329,302 shares in the company, valued at $114,468,668.22. This represents a 4.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 3,550 shares of company stock worth $1,227,869 and have sold 664,471 shares worth $225,184,128. 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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