Broadcom Inc. $AVGO Shares Acquired by NorthCrest Asset Manangement LLC

Key Points

• NorthCrest Asset Management LLC increased its stake in Broadcom Inc. by 0.8%, owning 590,973 shares valued at approximately $162.62 million, making Broadcom its second-largest investment.
• Insider trading activity included Charlie B. Kawwas selling 3,893 shares at $347.82 each, decreasing his position by 13.34%, while another director, Justine Page, sold 800 shares at $360.00, reducing her stake by 3.36%.
• Broadcom reported earnings per share of $1.69 for the past quarter, exceeding analysts' estimates, and announced a quarterly dividend of $0.59 to be paid on September 30th, indicating a solid financial performance.

NorthCrest Asset Manangement LLC lifted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 0.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 590,973 shares of the semiconductor manufacturer's stock after buying an additional 4,976 shares during the quarter. Broadcom makes up 4.4% of NorthCrest Asset Manangement LLC's portfolio, making the stock its 2nd biggest position. NorthCrest Asset Manangement LLC's holdings in Broadcom were worth $162,624,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Sawyer & Company Inc lifted its holdings in shares of Broadcom by 62.1% in 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 last quarter. Waddell & Associates LLC increased its holdings in shares of Broadcom by 2.1% in the 1st quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer's stock worth $350,000 after acquiring an additional 43 shares during the period. Challenger Wealth Management boosted its stake in Broadcom by 1.3% during the 1st quarter. Challenger Wealth Management now owns 3,504 shares of the semiconductor manufacturer's stock valued at $587,000 after purchasing an additional 45 shares during the period. High Net Worth Advisory Group LLC grew its position in Broadcom by 1.7% in the 2nd quarter. High Net Worth Advisory Group LLC now owns 2,671 shares of the semiconductor manufacturer's stock worth $736,000 after purchasing an additional 45 shares during the last quarter. Finally, Martingale Asset Management L P increased its stake in shares of Broadcom by 1.3% in the first quarter. Martingale Asset Management L P now owns 3,876 shares of the semiconductor manufacturer's stock valued at $649,000 after purchasing an additional 48 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AVGO. Rosenblatt Securities increased their price objective on Broadcom from $340.00 to $400.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Argus increased their price target on Broadcom from $285.00 to $375.00 and gave the stock a "buy" rating in a research note on Monday, September 8th. Wells Fargo & Company raised their price target on Broadcom from $255.00 to $345.00 and gave the company an "equal weight" rating in a report on Friday, September 5th. Oppenheimer reaffirmed an "outperform" rating and issued a $360.00 price objective (up previously from $325.00) on shares of Broadcom in a report on Friday, September 5th. Finally, Sanford C. Bernstein increased their target price on shares of Broadcom from $295.00 to $400.00 and gave the company an "outperform" rating in a research report on Friday, September 5th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Broadcom currently has a consensus rating of "Buy" and a consensus price target of $356.48.

Broadcom Price Performance

Broadcom stock traded down $4.91 during midday trading on Monday, hitting $339.44. The company's stock had a trading volume of 16,399,772 shares, compared to its average volume of 26,399,619. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86. The stock's 50-day moving average price is $308.05 and its 200-day moving average price is $248.20. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $374.23. The company has a market capitalization of $1.60 trillion, a PE ratio of 86.76, a price-to-earnings-growth ratio of 1.91 and a beta of 1.16.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping analysts' consensus estimates of $1.66 by $0.03. The business had revenue of $15.95 billion for the quarter, compared to the consensus estimate of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The business's revenue for the quarter was up 22.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. Analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, September 22nd. Broadcom's payout ratio is presently 60.20%.

Insider Buying and Selling

In related news, CFO Kirsten M. Spears sold 7,498 shares of the stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total value of $2,606,754.68. Following the completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Justine Page sold 800 shares of Broadcom stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $360.00, for a total value of $288,000.00. Following the transaction, the director directly owned 22,982 shares in the company, valued at approximately $8,273,520. This trade represents a 3.36% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have bought 3,550 shares of company stock valued at $1,227,869 and have sold 790,522 shares valued at $224,295,124. 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.