Next Century Growth Investors LLC Invests $2.93 Million in Broadcom Inc. $AVGO

Key Points

• Next Century Growth Investors LLC has acquired 17,503 shares of Broadcom Inc. valued at approximately $2.93 million in the first quarter.
• Analysts are optimistic about Broadcom, with price targets set as high as $400 and an average rating of "Buy" from multiple research reports.
• Broadcom has seen significant changes in institutional ownership, with 76.43% of its stock currently owned by hedge funds and other institutional investors.

Next Century Growth Investors LLC acquired a new position in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,503 shares of the semiconductor manufacturer's stock, valued at approximately $2,931,000.

Several other large investors also recently made changes to their positions in the business. Oak Associates Ltd. OH increased its position in shares of Broadcom by 4.0% in the first quarter. Oak Associates Ltd. OH now owns 185,042 shares of the semiconductor manufacturer's stock worth $30,982,000 after acquiring an additional 7,202 shares in the last quarter. Cape ANN Savings Bank increased its position in shares of Broadcom by 5.8% in the first quarter. Cape ANN Savings Bank now owns 1,791 shares of the semiconductor manufacturer's stock worth $300,000 after acquiring an additional 98 shares in the last quarter. Cascade Investment Group Inc. increased its position in shares of Broadcom by 11.2% in the first quarter. Cascade Investment Group Inc. now owns 6,812 shares of the semiconductor manufacturer's stock worth $1,141,000 after acquiring an additional 685 shares in the last quarter. Truvestments Capital LLC increased its position in shares of Broadcom by 12.0% in the first quarter. Truvestments Capital LLC now owns 56,758 shares of the semiconductor manufacturer's stock worth $9,503,000 after acquiring an additional 6,084 shares in the last quarter. Finally, Wealth Preservation Advisors LLC acquired a new stake in shares of Broadcom in the first quarter worth $211,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Stock Down 3.6%

NASDAQ AVGO traded down $11.26 during trading hours on Friday, reaching $297.39. 21,581,160 shares of the company traded hands, compared to its average volume of 17,621,516. Broadcom Inc. has a 12 month low of $134.90 and a 12 month high of $317.35. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $1.40 trillion, a PE ratio of 111.38, a PEG ratio of 2.11 and a beta of 1.15. The company has a 50 day moving average of $287.74 and a two-hundred day moving average of $234.67.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, beating analysts' consensus estimates of $1.57 by $0.01. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The firm had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.98 billion. During the same period in the prior year, the firm posted $10.96 EPS. The firm's revenue was up 20.2% compared to the same quarter last year. Broadcom has set its Q3 2025 guidance at EPS. As a group, equities analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, June 20th. Broadcom's dividend payout ratio is 88.39%.

Insider Activity

In other news, insider Mark David Brazeal sold 50,000 shares of the firm's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $253.28, for a total value of $12,664,000.00. Following the transaction, the insider directly owned 415,956 shares in the company, valued at approximately $105,353,335.68. This trade represents a 10.73% decrease in their position. The transaction was disclosed in a filing with the SEC, 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 transaction of $125,739,356.34. Following the completion of the transaction, the director owned 38,188,575 shares in the company, 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. Insiders sold a total of 830,516 shares of company stock worth $217,286,457 over the last ninety days. Insiders own 2.00% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on AVGO shares. Redburn Atlantic began coverage on shares of Broadcom in a research report on Wednesday, May 28th. They issued a "buy" rating and a $301.00 price objective for the company. The Goldman Sachs Group restated a "buy" rating and issued a $340.00 target price on shares of Broadcom in a research note on Wednesday, August 13th. Mizuho upped their target price on shares of Broadcom from $315.00 to $320.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Truist Financial set a $295.00 target price on shares of Broadcom and gave the company a "buy" rating in a research note on Friday, June 6th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $300.00 target price on shares of Broadcom in a research note on Friday, June 6th. Three analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $301.79.

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.