Pensionfund Sabic Raises Holdings in Broadcom Inc. $AVGO

Key Points

• Pensionfund Sabic increased its holdings in Broadcom Inc. by 46.1% during the first quarter, acquiring an additional 7,600 shares for a total of 24,100 shares, valued at approximately $4.04 million.
• Broadcom received several analyst upgrades, with target prices raised significantly, including Rosenblatt Securities increasing its target from $340 to $400 and Argus raising it from $285 to $375.
• The company announced a quarterly dividend of $0.59 per share, with an annualized yield of 0.7%, to be paid on September 30 to investors of record by September 22.

Pensionfund Sabic boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 46.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,100 shares of the semiconductor manufacturer's stock after buying an additional 7,600 shares during the quarter. Broadcom makes up approximately 1.2% of Pensionfund Sabic's investment portfolio, making the stock its 13th biggest holding. Pensionfund Sabic's holdings in Broadcom were worth $4,035,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Sunbeam Capital Management LLC purchased a new position in Broadcom during the fourth quarter valued at approximately $28,000. Vermillion Wealth Management Inc. purchased a new position in Broadcom during the fourth quarter valued at approximately $30,000. Barnes Dennig Private Wealth Management LLC purchased a new position in Broadcom during the first quarter valued at approximately $25,000. Cheviot Value Management LLC purchased a new position in Broadcom during the first quarter valued at approximately $25,000. Finally, Inlight Wealth Management LLC purchased a new position in Broadcom during the first quarter valued at approximately $26,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on AVGO shares. Rosenblatt Securities raised their target price on shares of Broadcom from $340.00 to $400.00 and gave the company a "buy" rating in a research note on Friday, September 5th. Morgan Stanley raised their target price on shares of Broadcom from $338.00 to $357.00 and gave the company an "overweight" rating in a research note on Tuesday, September 2nd. TD Cowen raised their target price on shares of Broadcom from $355.00 to $370.00 and gave the company a "buy" rating in a research note on Friday, September 5th. Argus raised their target price on shares of Broadcom from $285.00 to $375.00 and gave the company a "buy" rating in a research note on Monday, September 8th. Finally, Hsbc Global Res upgraded shares of Broadcom from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 24th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $354.04.

Insider Activity at Broadcom

In related news, Director Gayla J. Delly sold 3,000 shares of the business's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $265.13, for a total transaction of $795,390.00. Following the completion of the transaction, the director directly owned 33,352 shares in the company, valued at $8,842,615.76. The trade was a 8.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark David Brazeal sold 50,000 shares of the business's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $253.28, for a total transaction of $12,664,000.00. Following the transaction, the insider owned 415,956 shares of the company's stock, valued at $105,353,335.68. This represents a 10.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 3,550 shares of company stock valued at $1,227,869 and sold 850,912 shares valued at $234,854,489. Company insiders own 2.00% of the company's stock.

Broadcom Trading Up 0.1%

NASDAQ:AVGO opened at $359.87 on Friday. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $374.23. The firm has a fifty day simple moving average of $300.31 and a 200-day simple moving average of $241.98. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $1.69 trillion, a P/E ratio of 91.80, a PEG ratio of 1.99 and a beta of 1.16.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping 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 business had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.82 billion. During the same period in the previous year, the firm posted $1.24 earnings per share. The business's revenue for the quarter was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. On average, equities research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

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

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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