Miller Howard Investments Inc. NY Lowers Holdings in Broadcom Inc. $AVGO

Key Points

• Miller Howard Investments Inc. NY reduced its holdings in Broadcom by 15.3% during the 2nd quarter, now owning 4,153 shares worth $1,145,000.
• Broadcom's most recent earnings report showed a 22.0% increase in revenue year-over-year, with $1.69 earnings per share, beating expectations by $0.03.
• The company declared a quarterly dividend of $0.59 per share, with an annualized yield of 0.7%, set to be paid on September 30th to stockholders of record.

Miller Howard Investments Inc. NY lessened its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 15.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,153 shares of the semiconductor manufacturer's stock after selling 749 shares during the quarter. Miller Howard Investments Inc. NY's holdings in Broadcom were worth $1,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of AVGO. Nuveen LLC purchased a new position in Broadcom in the 1st quarter worth about $6,649,117,000. Price T Rowe Associates Inc. MD raised its position in Broadcom by 37.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer's stock worth $10,968,270,000 after buying an additional 17,985,046 shares during the last quarter. GAMMA Investing LLC raised its position in Broadcom by 18,179.3% in the 1st quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer's stock worth $2,892,548,000 after buying an additional 17,181,652 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Broadcom by 16.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer's stock worth $5,333,384,000 after buying an additional 4,550,647 shares during the last quarter. Finally, Deutsche Bank AG raised its position in Broadcom by 36.9% in the 1st quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer's stock worth $2,638,512,000 after buying an additional 4,245,345 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom Trading Down 0.1%

AVGO stock opened at $344.94 on Friday. Broadcom Inc. has a 1-year low of $138.10 and a 1-year 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. The company has a market capitalization of $1.63 trillion, a price-to-earnings ratio of 87.99, a PEG ratio of 1.91 and a beta of 1.16. The business has a 50 day simple moving average of $308.05 and a two-hundred day simple moving average of $247.72.

Broadcom (NASDAQ:AVGO - Get Free Report) last released 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 business had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. During the same quarter last year, the firm posted $1.24 earnings per share. The business's revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. Research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company 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 dividend of $0.59 per share. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom's dividend payout ratio is presently 60.20%.

Insider Transactions at Broadcom

In other Broadcom news, CFO Kirsten M. Spears sold 36,350 shares of the firm's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $261.27, for a total value of $9,497,164.50. Following the completion of the sale, the chief financial officer owned 325,587 shares of the company's stock, valued at approximately $85,066,115.49. This trade represents a 10.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Henry Samueli sold 473,898 shares of the firm's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total value of $125,739,356.34. Following the completion of the transaction, the director owned 38,188,575 shares of the company's stock, valued at approximately $10,132,574,604.75. The trade was a 1.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 3,550 shares of company stock worth $1,227,869 and sold 840,522 shares worth $236,959,124. 2.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on AVGO. Citigroup boosted their target price on Broadcom from $315.00 to $350.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Erste Group Bank raised shares of Broadcom from a "hold" rating to a "buy" rating in a research report on Thursday, June 5th. UBS Group upped 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. Cowen reaffirmed a "buy" rating on shares of Broadcom in a research report on Friday, June 6th. Finally, Redburn Atlantic assumed coverage on shares of Broadcom in a research report on Wednesday, May 28th. They set a "buy" rating and a $301.00 price target for the company. Three research 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's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $356.48.

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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