MFG Wealth Management Inc. Grows Stock Holdings in Broadcom Inc. $AVGO

Key Points

• MFG Wealth Management Inc. increased its stake in Broadcom Inc. (NASDAQ:AVGO) by 60.5% during Q2, now holding 10,467 shares valued at approximately $2,885,000.
• Broadcom reported a quarterly earnings per share of $1.69, surpassing expectations and reflecting a 22% year-over-year revenue increase to $15.95 billion.
• The company declared a quarterly dividend of $0.59 per share, with a current dividend yield of 0.7% and a payout ratio of 60.20%.

MFG Wealth Management Inc. lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 60.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,467 shares of the semiconductor manufacturer's stock after purchasing an additional 3,945 shares during the period. Broadcom comprises approximately 2.4% of MFG Wealth Management Inc.'s portfolio, making the stock its 16th largest position. MFG Wealth Management Inc.'s holdings in Broadcom were worth $2,885,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AVGO. Barnes Dennig Private Wealth Management LLC purchased a new stake in Broadcom in the first quarter valued at $25,000. Cheviot Value Management LLC purchased a new stake in Broadcom in the first quarter valued at $25,000. Inlight Wealth Management LLC purchased a new stake in Broadcom in the first quarter valued at $26,000. Sunbeam Capital Management LLC purchased a new stake in Broadcom in the fourth quarter valued at $28,000. Finally, Vermillion Wealth Management Inc. purchased a new stake in Broadcom in the fourth quarter valued at $30,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Down 1.1%

AVGO stock opened at $360.00 on Wednesday. The company's 50 day simple moving average is $303.88 and its 200-day simple moving average is $244.46. The firm has a market capitalization of $1.70 trillion, a PE ratio of 91.84, a P/E/G ratio of 2.01 and a beta of 1.16. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $374.23. 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 (NASDAQ:AVGO - Get Free Report) last released 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 net margin of 31.59% and a return on equity of 36.60%. The company's quarterly revenue was up 22.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. Equities analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm 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 is Monday, September 22nd. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Broadcom's dividend payout ratio is currently 60.20%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AVGO. UBS Group boosted their price target on shares of Broadcom from $290.00 to $345.00 and gave the company a "buy" rating in a research report on Monday, August 25th. Mizuho upped their target price on shares of Broadcom from $355.00 to $410.00 and gave the company an "outperform" rating in a report on Friday, September 12th. Rosenblatt Securities upped their target price on shares of Broadcom from $340.00 to $400.00 and gave the company a "buy" rating in a report on Friday, September 5th. Morgan Stanley upped their target price on shares of Broadcom from $338.00 to $357.00 and gave the company an "overweight" rating in a report on Tuesday, September 2nd. Finally, Bank of America upped their target price on shares of Broadcom from $300.00 to $400.00 and gave the company a "buy" rating in a report on Friday, September 5th. Three 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. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $356.48.

Insiders Place Their Bets

In other news, Director Justine Page sold 800 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $307.46, for a total value of $245,968.00. Following the sale, the director directly owned 23,782 shares in the company, valued at $7,312,013.72. This represents a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Henry Samueli sold 473,898 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the transaction, the director directly owned 38,188,575 shares in the company, valued at $10,132,574,604.75. The trade was a 1.23% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 3,550 shares of company stock valued at $1,227,869 and sold 793,802 shares valued at $220,478,166. Company insiders own 2.00% of the company's stock.

About Broadcom

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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