PGGM Investments Buys 107,414 Shares of Broadcom Inc. $AVGO

Key Points

• PGGM Investments increased its stake in Broadcom Inc. by 57.7%, acquiring an additional 107,414 shares and bringing its total holdings to 293,550 shares, valued at approximately $80.9 million.
• Broadcom reported earnings of $1.69 per share for its latest quarter, surpassing estimates and showing a 22% year-over-year revenue increase to $15.95 billion.
• Director Henry Samueli and CEO Hock E. Tan recently sold significant amounts of Broadcom stock, with Samueli selling 368,797 shares for about $124.6 million and Tan selling 100,000 shares for roughly $34 million.

PGGM Investments boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 57.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 293,550 shares of the semiconductor manufacturer's stock after buying an additional 107,414 shares during the period. Broadcom makes up about 1.4% of PGGM Investments' investment portfolio, making the stock its 29th largest holding. PGGM Investments' holdings in Broadcom were worth $80,917,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of AVGO. Sawyer & Company Inc grew its holdings in shares of Broadcom by 62.1% in the second 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 period. Legend Financial Advisors Inc. bought a new stake in shares of Broadcom in the second quarter worth $28,000. Maseco LLP bought a new stake in shares of Broadcom in the second quarter worth $34,000. PFS Partners LLC grew its holdings in shares of Broadcom by 38.4% in the second quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer's stock worth $38,000 after acquiring an additional 38 shares during the period. Finally, Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Broadcom in the first quarter worth $25,000. Institutional investors own 76.43% of the company's stock.

Broadcom Trading Up 0.1%

Shares of AVGO stock opened at $338.37 on Friday. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $374.23. 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's 50 day simple moving average is $318.43 and its two-hundred day simple moving average is $257.77. The company has a market cap of $1.60 trillion, a PE ratio of 86.32, a price-to-earnings-growth ratio of 1.87 and a beta of 1.20.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data 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. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The business had revenue of $15.95 billion for the quarter, compared to the consensus estimate of $15.82 billion. During the same period in the prior year, the business posted $1.24 earnings per share. The company's quarterly revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. Research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

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

Insider Buying and Selling at Broadcom

In other news, Director Henry Samueli sold 368,797 shares of the stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $337.91, for a total value of $124,620,194.27. Following the sale, the director directly owned 37,722,534 shares in the company, valued at approximately $12,746,821,463.94. This represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 100,000 shares of the stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $339.58, for a total value of $33,958,000.00. Following the completion of the sale, the chief executive officer owned 725,638 shares in the company, valued at approximately $246,412,152.04. The trade was a 12.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 3,550 shares of company stock valued at $1,227,869 and sold 666,071 shares valued at $225,623,008. 2.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

AVGO has been the subject of several research analyst reports. Evercore ISI reaffirmed an "outperform" rating and issued a $342.00 price objective (up previously from $304.00) on shares of Broadcom in a report on Thursday, September 4th. HSBC raised 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. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $340.00 price objective on shares of Broadcom in a report on Wednesday, August 13th. Deutsche Bank Aktiengesellschaft lifted their target price on Broadcom from $300.00 to $350.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Finally, Wall Street Zen raised Broadcom from a "hold" rating to a "buy" rating in a report on Saturday, September 6th. Three investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $357.22.

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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