Perigon Wealth Management LLC Has $42.37 Million Stock Position in Broadcom Inc. $AVGO

Key Points

• Perigon Wealth Management LLC increased its holdings in Broadcom Inc. by 0.9%, owning 153,695 shares valued at approximately $42.37 million as of the most recent quarter.
• Broadcom has received favorable ratings from multiple analysts, with price targets raised significantly, including an increase from $285 to $375 by Argus.
• Insider trading activity includes CEO Hock E. Tan selling 148,154 shares for nearly $50 million, resulting in a 15.21% decrease in his position.

Perigon Wealth Management LLC grew its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 0.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 153,695 shares of the semiconductor manufacturer's stock after acquiring an additional 1,437 shares during the quarter. Broadcom accounts for 1.0% of Perigon Wealth Management LLC's holdings, making the stock its 14th biggest position. Perigon Wealth Management LLC's holdings in Broadcom were worth $42,366,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Sawyer & Company Inc boosted its position in Broadcom by 62.1% during the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock worth $26,000 after acquiring an additional 36 shares during the last quarter. Waddell & Associates LLC boosted its position in Broadcom by 2.1% during the 1st quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer's stock worth $350,000 after acquiring an additional 43 shares during the last quarter. Luts & Greenleigh Group Inc. boosted its position in Broadcom by 1.3% during the 2nd quarter. Luts & Greenleigh Group Inc. now owns 3,405 shares of the semiconductor manufacturer's stock worth $939,000 after acquiring an additional 44 shares during the last quarter. Challenger Wealth Management boosted its position in Broadcom by 1.3% during the 1st quarter. Challenger Wealth Management now owns 3,504 shares of the semiconductor manufacturer's stock worth $587,000 after acquiring an additional 45 shares during the last quarter. Finally, High Net Worth Advisory Group LLC boosted its holdings in shares of Broadcom by 1.7% in the 2nd quarter. High Net Worth Advisory Group LLC now owns 2,671 shares of the semiconductor manufacturer's stock valued at $736,000 after buying an additional 45 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Wall Street Analyst Weigh In

AVGO has been the subject of several recent analyst reports. Wall Street Zen raised Broadcom from a "hold" rating to a "buy" rating in a report on Saturday, September 6th. Argus increased 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. Piper Sandler increased their price objective on Broadcom from $315.00 to $375.00 and gave the company an "overweight" rating in a report on Friday, September 5th. Citigroup increased 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. Finally, Oppenheimer reissued an "outperform" rating and issued a $360.00 price objective (up previously from $325.00) on shares of Broadcom in a report on Friday, September 5th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $356.48.

Insider Activity

In other Broadcom news, CEO Hock E. Tan sold 148,154 shares of the stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $336.67, for a total transaction of $49,879,007.18. Following the transaction, the chief executive officer owned 825,998 shares in the company, valued at $278,088,746.66. This trade represents a 15.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 3,893 shares of the stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total value of $1,354,063.26. Following the transaction, the insider owned 25,295 shares in the company, valued at $8,798,106.90. The trade was a 13.34% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 3,550 shares of company stock worth $1,227,869 and have sold 666,071 shares worth $225,623,008. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Down 0.5%

AVGO stock opened at $334.53 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. The stock has a market capitalization of $1.58 trillion, a price-to-earnings ratio of 85.34, a PEG ratio of 1.85 and a beta of 1.16. The business's fifty day moving average price is $313.66 and its two-hundred day moving average price is $252.89. Broadcom Inc. has a fifty-two week low of $138.10 and a fifty-two week high of $374.23.

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

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders 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 annualized dividend and a yield of 0.7%. Broadcom's dividend payout ratio (DPR) is presently 60.20%.

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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