Mitchell Mcleod Pugh & Williams Inc. Purchases 948 Shares of Broadcom Inc. $AVGO

Key Points

• Mitchell Mcleod Pugh & Williams Inc. increased its stake in Broadcom Inc. by 3.3%, acquiring an additional 948 shares during the second quarter, bringing their total holding to 29,651 shares valued at $8.17 million.
• Several institutional investors, including Sawyer & Company and PFS Partners LLC, have also significantly increased their holdings in Broadcom, highlighting strong institutional interest as they now own 76.43% of the company's stock.
• Broadcom's stock price received multiple upgrades from analysts, with a consensus price target of $372.33, reflecting a bullish outlook despite varying ratings, indicating a general belief in the company's potential for growth.

Mitchell Mcleod Pugh & Williams Inc. increased its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,651 shares of the semiconductor manufacturer's stock after acquiring an additional 948 shares during the quarter. Broadcom comprises about 1.5% of Mitchell Mcleod Pugh & Williams Inc.'s investment portfolio, making the stock its 12th biggest position. Mitchell Mcleod Pugh & Williams Inc.'s holdings in Broadcom were worth $8,173,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Sawyer & Company Inc increased its holdings in shares of 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 purchasing an additional 36 shares during the period. PFS Partners LLC increased its holdings in shares of Broadcom by 38.4% during the 2nd quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer's stock worth $38,000 after purchasing an additional 38 shares during the period. Costello Asset Management INC increased its holdings in shares of Broadcom by 1.5% during the 2nd quarter. Costello Asset Management INC now owns 2,528 shares of the semiconductor manufacturer's stock worth $697,000 after purchasing an additional 38 shares during the period. Waddell & Associates LLC increased its holdings in shares of Broadcom by 2.1% during the 1st quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer's stock worth $350,000 after purchasing an additional 43 shares during the period. Finally, Luts & Greenleigh Group Inc. increased its holdings in shares of Broadcom by 1.3% during the 2nd 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 during the period. Institutional investors own 76.43% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AVGO. Mizuho set a $430.00 price objective on shares of Broadcom in a report on Monday, October 13th. Wells Fargo & Company boosted their price objective on shares of Broadcom from $255.00 to $345.00 and gave the stock an "equal weight" rating in a report on Friday, September 5th. Argus boosted their price objective on shares of Broadcom from $285.00 to $375.00 and gave the stock a "buy" rating in a report on Monday, September 8th. Wall Street Zen upgraded shares of Broadcom from a "hold" rating to a "buy" rating in a report on Saturday, September 6th. Finally, Weiss Ratings lowered shares of Broadcom from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $372.33.

Insider Transactions at Broadcom

In other Broadcom news, CFO Kirsten M. Spears sold 7,498 shares of the business's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total value of $2,606,754.68. Following the transaction, the chief financial officer directly owned 313,330 shares in the company, valued at $108,932,307.80. The trade was a 2.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Henry Samueli sold 368,797 shares of the business's stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $337.91, for a total transaction of $124,620,194.27. Following the completion of the transaction, the director owned 37,722,534 shares in the company, valued at approximately $12,746,821,463.94. This trade represents a 0.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 3,550 shares of company stock valued at $1,227,869 and sold 665,271 shares valued at $225,464,248. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Price Performance

Shares of Broadcom stock opened at $349.24 on Tuesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. The firm's 50-day simple moving average is $328.64 and its 200-day simple moving average is $271.47. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $374.23. The firm has a market cap of $1.65 trillion, a P/E ratio of 89.09, a price-to-earnings-growth ratio of 1.97 and a beta of 1.20.

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 analysts' consensus estimates of $1.66 by $0.03. The firm 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 revenue for the quarter was up 22.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. As a group, research analysts expect 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 was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were given a $0.59 dividend. The ex-dividend date was Monday, September 22nd. This represents a $2.36 dividend on an annualized basis 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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