NovaPoint Capital LLC Buys 1,555 Shares of Broadcom Inc. $AVGO

Key Points

• NovaPoint Capital LLC increased its holdings in Broadcom Inc. by 6.3% during Q2, owning 26,261 shares valued at $7.24 million, making it the company's 11th largest holding.
• Broadcom recently reported quarterly earnings that exceeded estimates, with an EPS of $1.69 and revenue of $15.95 billion, showcasing a year-over-year revenue growth of 22%.
• The stock has been positively rated by multiple analysts, with price targets raised to as high as $400 following its strong performance and current market conditions.

NovaPoint Capital LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 6.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 26,261 shares of the semiconductor manufacturer's stock after buying an additional 1,555 shares during the quarter. Broadcom comprises approximately 2.2% of NovaPoint Capital LLC's investment portfolio, making the stock its 11th biggest holding. NovaPoint Capital LLC's holdings in Broadcom were worth $7,239,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Broadcom by 0.4% in the first quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer's stock valued at $79,900,968,000 after buying an additional 2,085,534 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Broadcom by 37.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer's stock valued at $10,968,270,000 after buying an additional 17,985,046 shares in the last quarter. Nuveen LLC bought a new position in Broadcom in the first quarter valued at approximately $6,649,117,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Broadcom by 2.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 35,243,467 shares of the semiconductor manufacturer's stock worth $5,900,814,000 after purchasing an additional 842,088 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Broadcom by 3.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 33,852,310 shares of the semiconductor manufacturer's stock worth $5,668,134,000 after purchasing an additional 1,043,948 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Broadcom Price Performance

Shares of AVGO opened at $327.90 on Tuesday. The company has a market cap of $1.55 trillion, a price-to-earnings ratio of 83.65, a PEG ratio of 1.85 and a beta of 1.16. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $374.23. The company's fifty day simple moving average is $314.46 and its 200 day simple moving average is $254.25. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86.

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

Broadcom Announces Dividend

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

Insider Transactions at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 16,558 shares of the company's stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total value of $5,755,726.38. Following the transaction, the insider directly owned 329,302 shares in the company, valued at $114,468,668.22. The trade was a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Henry Samueli sold 368,797 shares of the company's stock in a transaction on 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 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 666,071 shares valued at $225,623,008. Company insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. HSBC raised shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price objective on the stock in a research report on Tuesday, June 24th. Rosenblatt Securities boosted their price objective on shares of Broadcom from $340.00 to $400.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Bank of America boosted their price objective on shares of Broadcom from $300.00 to $400.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Wall Street Zen raised shares of Broadcom from a "hold" rating to a "buy" rating in a research report on Saturday, September 6th. Finally, Barclays boosted their price objective on shares of Broadcom from $265.00 to $400.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. Three research 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 company. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target 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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