Penney Financial LLC Invests $276,000 in Broadcom Inc. $AVGO

Key Points

• Penney Financial LLC invested approximately $276,000 to acquire 1,000 shares of Broadcom Inc. in the second quarter, reflecting growing interest from institutional investors as 76.43% of the company’s stock is now held by them.
• Insider trading activity includes significant transactions, with CEO Hock E. Tan selling 100,000 shares for about $33.96 million, resulting in a 12.11% decrease in his holdings.
• Broadcom reported a 22.0% year-over-year increase in revenue, with quarterly earnings of $1.69 EPS, surpassing analysts' expectations of $1.66, reflecting strong financial performance.

Penney Financial LLC acquired a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 1,000 shares of the semiconductor manufacturer's stock, valued at approximately $276,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Broadcom during the first quarter worth approximately $25,000. Cheviot Value Management LLC acquired a new stake in Broadcom in the 1st quarter valued at approximately $25,000. Inlight Wealth Management LLC bought a new stake in Broadcom during the 1st quarter valued at $26,000. Sawyer & Company Inc raised its stake in Broadcom by 62.1% during the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock valued at $26,000 after acquiring an additional 36 shares in the last quarter. Finally, Legend Financial Advisors Inc. bought a new stake in Broadcom during the 2nd quarter valued at $28,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In other news, CEO Hock E. Tan sold 100,000 shares of the firm's stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $339.58, for a total transaction of $33,958,000.00. Following the completion of the sale, the chief executive officer directly owned 725,638 shares of the company's stock, valued at $246,412,152.04. This trade represents a 12.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark David Brazeal sold 16,558 shares of the firm'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 sale, the insider directly owned 329,302 shares of the company's stock, valued at approximately $114,468,668.22. This represents a 4.79% 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 664,471 shares worth $225,184,128. 2.00% of the stock is owned by insiders.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $324.63 on Monday. The stock has a fifty day moving average price of $322.64 and a two-hundred day moving average price of $263.58. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. The firm has a market cap of $1.53 trillion, a P/E ratio of 82.81, a PEG ratio of 1.80 and a beta of 1.20. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $374.23.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.66 by $0.03. The firm 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%.The firm's quarterly revenue was up 22.0% on a year-over-year basis. During the same period last year, the company posted $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. Research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Broadcom's dividend payout ratio (DPR) is currently 60.20%.

Analyst Ratings Changes

Several analysts have weighed in on AVGO shares. Evercore ISI reaffirmed an "outperform" rating and set a $342.00 target price (up previously from $304.00) on shares of Broadcom in a research note on Thursday, September 4th. Arete Research raised Broadcom to a "strong-buy" rating in a research note on Monday, July 28th. Barclays lifted their target price on Broadcom from $265.00 to $400.00 and gave the company an "overweight" rating in a research note on Friday, September 5th. Oppenheimer reaffirmed an "outperform" rating and set a $360.00 target price (up previously from $325.00) on shares of Broadcom in a research note on Friday, September 5th. Finally, 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. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $357.22.

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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