OLD National Bancorp IN Invests $1.37 Million in Broadcom Inc. $AVGO

Key Points

• OLD National Bancorp IN has invested approximately $1.37 million in Broadcom Inc., acquiring 4,971 shares of the semiconductor manufacturer during the second quarter.
• Broadcom has received positive analyst ratings, with target prices increased to as high as $400.00, and a consensus rating of "Buy" from most research analysts.
• The company recently announced a quarterly dividend of $0.59 per share, reflecting an annualized dividend of $2.36 and a yield of approximately 0.7%.

OLD National Bancorp IN bought a new position in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 4,971 shares of the semiconductor manufacturer's stock, valued at approximately $1,370,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Broadcom in the 1st quarter worth approximately $25,000. Cheviot Value Management LLC purchased a new position in shares of Broadcom in the 1st quarter worth approximately $25,000. Inlight Wealth Management LLC purchased a new position in shares of Broadcom in the 1st quarter worth approximately $26,000. Sawyer & Company Inc boosted 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 period. Finally, Legend Financial Advisors Inc. purchased a new position in shares of Broadcom in the 2nd quarter worth approximately $28,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on AVGO shares. Sanford C. Bernstein lifted their target price on Broadcom from $295.00 to $400.00 and gave the stock an "outperform" rating in a report on Friday, September 5th. Arete Research upgraded Broadcom to a "strong-buy" rating in a report on Monday, July 28th. Hsbc Global Res upgraded Broadcom from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 24th. Argus boosted their price objective on Broadcom from $285.00 to $375.00 and gave the company a "buy" rating in a report on Monday, September 8th. Finally, Citigroup boosted their price objective on Broadcom from $315.00 to $350.00 and gave the company a "buy" rating in a 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 two have issued a Hold rating to the company's stock. According to data from MarketBeat, Broadcom currently has a consensus rating of "Buy" and an average price target of $357.22.

Broadcom Trading Down 0.1%

Shares of NASDAQ AVGO opened at $345.02 on Friday. 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 business has a fifty day simple moving average of $321.92 and a two-hundred day simple moving average of $261.43. The firm has a market cap of $1.63 trillion, a PE ratio of 88.02, a price-to-earnings-growth ratio of 1.91 and a beta of 1.20. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $374.23.

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

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were given a dividend of $0.59 per share. The ex-dividend date of this dividend 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%.

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 16,558 shares of the business's stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total value of $5,755,726.38. Following the completion of the transaction, the insider directly owned 329,302 shares of the company's stock, valued at approximately $114,468,668.22. The trade was a 4.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Hock E. Tan sold 100,000 shares of the business's stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $339.58, for a total value of $33,958,000.00. Following the completion of the transaction, the chief executive officer directly owned 725,638 shares of the company's stock, valued at approximately $246,412,152.04. The trade was a 12.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 3,550 shares of company stock worth $1,227,869 and sold 666,071 shares worth $225,623,008. Company insiders own 2.00% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.