Private Client Services LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 32.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,564 shares of the semiconductor manufacturer's stock after buying an additional 1,355 shares during the quarter. Private Client Services LLC's holdings in Broadcom were worth $1,534,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in AVGO. Brighton Jones LLC raised its stake in Broadcom by 21.8% during the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock worth $6,882,000 after buying an additional 5,322 shares during the period. Revolve Wealth Partners LLC raised its stake in Broadcom by 10.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock worth $1,854,000 after buying an additional 756 shares during the period. Bank Pictet & Cie Europe AG raised its stake in Broadcom by 16.4% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 221,199 shares of the semiconductor manufacturer's stock worth $51,283,000 after buying an additional 31,225 shares during the period. Redwood Investment Management LLC raised its stake in Broadcom by 52.1% during the 4th quarter. Redwood Investment Management LLC now owns 5,700 shares of the semiconductor manufacturer's stock worth $1,322,000 after buying an additional 1,952 shares during the period. Finally, Sig Brokerage LP acquired a new position in Broadcom during the 4th quarter worth approximately $718,000. 76.43% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
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 completion of the transaction, the chief executive officer directly owned 825,998 shares of the company's stock, valued at approximately $278,088,746.66. This represents a 15.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kirsten M. Spears sold 56,310 shares of the stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $251.75, for a total value of $14,176,042.50. Following the transaction, the chief financial officer directly owned 361,937 shares of the company's stock, valued at approximately $91,117,639.75. This trade represents a 13.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 3,550 shares of company stock valued at $1,227,869 and sold 850,912 shares valued at $234,854,489. Insiders own 2.00% of the company's stock.
Analysts Set New Price Targets
AVGO has been the subject of several analyst reports. Bank of America increased their price objective on Broadcom from $300.00 to $400.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Argus increased their price objective on Broadcom from $285.00 to $375.00 and gave the stock a "buy" rating in a research note on Monday, September 8th. UBS Group increased their price objective on Broadcom from $290.00 to $345.00 and gave the stock a "buy" rating in a research note on Monday, August 25th. Morgan Stanley increased their price objective on Broadcom from $338.00 to $357.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 2nd. Finally, Cowen reissued a "buy" rating on shares of Broadcom in a research note on Friday, June 6th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $354.04.
Check Out Our Latest Stock Report on AVGO
Broadcom Stock Performance
AVGO stock opened at $359.87 on Friday. The firm has a market cap of $1.69 trillion, a PE ratio of 91.80, a P/E/G ratio of 1.99 and a beta of 1.16. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86. The business has a 50 day moving average of $300.31 and a 200-day moving average of $241.98. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $374.23.
Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.03. The company had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.Broadcom's quarterly revenue was up 22.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. As a group, sell-side analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.
Broadcom Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be issued a $0.59 dividend. 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 dividend payout ratio is currently 60.20%.
About Broadcom
(
Free Report)
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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