Platinum Investment Management Ltd. Has $78.05 Million Stock Position in Broadcom Inc. $AVGO

Key Points

• Platinum Investment Management Ltd. reduced its stake in Broadcom Inc. by 46.1% in the second quarter, now holding 283,133 shares valued at approximately $78 million, making it their third largest position.
• Broadcom reported a 22.0% year-over-year revenue increase with earnings per share (EPS) of $1.69, beating analyst expectations by $0.03.
• The company announced a quarterly dividend of $0.59 per share with a yield of 0.7%, reflecting a dividend payout ratio of 60.20%.

Platinum Investment Management Ltd. lowered its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 46.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 283,133 shares of the semiconductor manufacturer's stock after selling 241,956 shares during the period. Broadcom makes up approximately 5.2% of Platinum Investment Management Ltd.'s investment portfolio, making the stock its 3rd biggest position. Platinum Investment Management Ltd.'s holdings in Broadcom were worth $78,046,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AVGO. PARUS FINANCE UK Ltd lifted its position in Broadcom by 175.3% in the first quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer's stock worth $16,840,000 after buying an additional 64,038 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Broadcom by 27.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 64,130 shares of the semiconductor manufacturer's stock worth $10,737,000 after acquiring an additional 13,978 shares during the last quarter. Asio Capital LLC boosted its stake in shares of Broadcom by 2.0% during the 2nd quarter. Asio Capital LLC now owns 54,459 shares of the semiconductor manufacturer's stock worth $15,012,000 after purchasing an additional 1,089 shares during the period. Keener Financial Planning LLC grew its holdings in Broadcom by 34.8% during the 1st quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer's stock valued at $149,000 after purchasing an additional 230 shares during the last quarter. Finally, Diversify Wealth Management LLC raised its position in Broadcom by 5.6% in the 1st quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer's stock worth $6,365,000 after purchasing an additional 2,016 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Down 0.9%

NASDAQ:AVGO opened at $335.49 on Tuesday. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $374.23. The company has a 50-day moving average of $319.25 and a 200 day moving average of $259.24. The firm has a market cap of $1.58 trillion, a PE ratio of 85.58, a price-to-earnings-growth ratio of 1.87 and a beta of 1.20. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $15.82 billion. During the same quarter last year, the firm posted $1.24 EPS. The company's revenue for the quarter was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. As a group, research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were issued 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 currently 60.20%.

Insider Buying and Selling at Broadcom

In related news, insider Mark David Brazeal sold 16,558 shares of the company's stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the completion of the sale, the insider directly owned 329,302 shares in the company, valued at $114,468,668.22. This represents a 4.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Hock E. Tan sold 100,000 shares of Broadcom stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $339.58, for a total value of $33,958,000.00. Following the completion of the transaction, the chief executive officer owned 725,638 shares in the company, valued at $246,412,152.04. This trade represents a 12.11% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have purchased 3,550 shares of company stock worth $1,227,869 and have sold 666,071 shares worth $225,623,008. Insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

AVGO has been the topic of a number of analyst reports. TD Cowen upped their target price on Broadcom from $355.00 to $370.00 and gave the company a "buy" rating in a research note on Friday, September 5th. JPMorgan Chase & Co. upped their price objective on Broadcom from $325.00 to $400.00 and gave the company an "overweight" rating in a research report on Friday, September 5th. KeyCorp reiterated an "overweight" rating and issued a $420.00 target price (up previously from $400.00) on shares of Broadcom in a research note on Tuesday, September 30th. Evercore ISI reissued an "outperform" rating and set a $342.00 target price (up from $304.00) on shares of Broadcom in a research note on Thursday, September 4th. Finally, Sanford C. Bernstein upped their price target on shares of Broadcom from $295.00 to $400.00 and gave the stock an "outperform" rating in a report on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $357.22.

Broadcom 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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