Perpetual Ltd Has $71.62 Million Position in Broadcom Inc. $AVGO

Key Points

• Perpetual Ltd reduced its holdings in Broadcom Inc. by 31.6% in the second quarter, owning 259,832 shares valued at $71.62 million following the sale of 119,904 shares.
• Multiple institutional investors, including PARUS FINANCE UK Ltd and Geneos Wealth Management Inc., significantly increased their stakes in Broadcom during the first quarter, collectively showcasing strong interest in the company.
• Analysts have set a consensus price target of $356.48 for Broadcom, with many upgrading their ratings, indicating a generally positive outlook for the company's stock performance.

Perpetual Ltd lessened its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 31.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 259,832 shares of the semiconductor manufacturer's stock after selling 119,904 shares during the period. Perpetual Ltd's holdings in Broadcom were worth $71,623,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of AVGO. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Broadcom during the 1st quarter valued at $25,000. Cheviot Value Management LLC acquired a new stake in Broadcom during the 1st quarter valued at $25,000. Inlight Wealth Management LLC acquired 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 purchasing an additional 36 shares during the period. Finally, Sunbeam Capital Management LLC acquired a new stake in Broadcom during the 4th quarter valued at $28,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Stock Performance

Shares of NASDAQ AVGO traded down $0.12 during mid-day trading on Tuesday, hitting $338.67. The company had a trading volume of 10,082,009 shares, compared to its average volume of 26,376,787. 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 business's 50-day simple moving average is $309.32 and its 200-day simple moving average is $249.20. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $374.23. The firm has a market cap of $1.60 trillion, a P/E ratio of 86.59, a PEG ratio of 1.91 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 earnings per share 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 company had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. During the same quarter last year, the business posted $1.24 earnings per share. The company's revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. As a group, analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

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

Analyst Ratings Changes

AVGO has been the topic of several recent analyst reports. Morgan Stanley boosted 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. Arete Research upgraded shares of Broadcom to a "strong-buy" rating in a report on Monday, July 28th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Broadcom from $300.00 to $350.00 and gave the stock a "buy" rating in a report on Friday, September 5th. HSBC upgraded shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price objective for the company in a report on Tuesday, June 24th. Finally, Piper Sandler upped their price objective on shares of Broadcom from $315.00 to $375.00 and gave the stock an "overweight" rating in a report on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $356.48.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Justine Page sold 800 shares of the business's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $360.00, for a total value of $288,000.00. Following the completion of the sale, the director owned 22,982 shares of the company's stock, valued at $8,273,520. The trade was a 3.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 3,893 shares of the business's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total transaction of $1,354,063.26. Following the completion of the sale, the insider directly owned 25,295 shares of the company's stock, valued at $8,798,106.90. This represents a 13.34% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 3,550 shares of company stock worth $1,227,869 and have sold 714,172 shares worth $204,311,160. 2.00% of the stock is currently owned by corporate insiders.

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.