Paloma Partners Management Co Makes New Investment in Broadcom Inc. $AVGO

Key Points

• Paloma Partners Management Co has acquired a new position in Broadcom Inc., purchasing 61,500 shares valued at approximately $10.3 million, making it the 16th largest holding in their portfolio.
• Multiple large investors, including Nuveen LLC and Goldman Sachs Group Inc., significantly increased their stakes in Broadcom during the same period, indicating strong institutional interest in the stock.
• Research analysts maintain a predominantly positive outlook on Broadcom, with a consensus rating of "Buy" and a consensus target price of $301.79, highlighting continued confidence in the company's performance.

Paloma Partners Management Co bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 61,500 shares of the semiconductor manufacturer's stock, valued at approximately $10,297,000. Broadcom comprises about 1.3% of Paloma Partners Management Co's investment portfolio, making the stock its 16th largest holding.

Other large investors also recently bought and sold shares of the company. Nuveen LLC purchased a new stake in shares of Broadcom in the 1st quarter valued at $6,649,117,000. Price T Rowe Associates Inc. MD raised its position in Broadcom by 37.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer's stock worth $10,968,270,000 after acquiring an additional 17,985,046 shares during the period. GAMMA Investing LLC raised its position in Broadcom by 18,179.3% during the first quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer's stock worth $2,892,548,000 after acquiring an additional 17,181,652 shares during the period. Goldman Sachs Group Inc. raised its position in Broadcom by 16.7% during the first quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer's stock worth $5,333,384,000 after acquiring an additional 4,550,647 shares during the period. Finally, Deutsche Bank AG raised its position in shares of Broadcom by 36.9% in the first quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer's stock valued at $2,638,512,000 after buying an additional 4,245,345 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insiders Place Their Bets

In other news, CFO Kirsten M. Spears sold 56,310 shares of Broadcom stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $251.75, for a total value of $14,176,042.50. Following the transaction, the chief financial officer directly owned 361,937 shares of the company's stock, valued at $91,117,639.75. The trade was a 13.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Henry Samueli sold 473,898 shares of Broadcom stock in a transaction on Wednesday, June 25th. The shares were 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. This trade represents a 1.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 830,516 shares of company stock worth $217,286,457. Corporate insiders own 2.00% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. The Goldman Sachs Group reaffirmed a "buy" rating and set a $340.00 target price on shares of Broadcom in a research note on Wednesday, August 13th. Evercore ISI reaffirmed an "outperform" rating and set a $304.00 target price (up previously from $267.00) on shares of Broadcom in a research note on Friday, June 6th. Morgan Stanley set a $338.00 target price on shares of Broadcom and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Cowen reaffirmed a "buy" rating on shares of Broadcom in a research note on Friday, June 6th. Finally, Barclays increased their target price on shares of Broadcom from $215.00 to $265.00 and gave the stock an "overweight" rating in a research note on Monday, June 9th. Three analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $301.79.

Broadcom Trading Down 3.6%

NASDAQ AVGO opened at $297.39 on Monday. The firm has a 50 day simple moving average of $287.74 and a 200-day simple moving average of $234.66. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08. Broadcom Inc. has a one year low of $134.90 and a one year high of $317.35. The firm has a market cap of $1.40 trillion, a price-to-earnings ratio of 111.38, a PEG ratio of 2.11 and a beta of 1.16.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, beating the consensus estimate 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 analysts' expectations of $14.98 billion. During the same quarter last year, the company earned $10.96 earnings per share. The firm's revenue was up 20.2% compared to the same quarter last year. Broadcom has set its Q3 2025 guidance at EPS. Equities research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom's payout ratio is presently 88.39%.

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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