Rise Advisors LLC Buys 747 Shares of Broadcom Inc. $AVGO

Key Points

• Rise Advisors LLC increased its stake in Broadcom Inc. by 32.0%, acquiring an additional 747 shares, bringing its total holdings to 3,082 shares valued at approximately $516,000.
• Broadcom reported better-than-expected quarterly earnings, with earnings per share (EPS) of $1.69, beating the consensus estimate by $0.03, and revenue of $15.95 billion, which was up 22.0% from the previous year.
• The company recently declared a quarterly dividend of $0.59 per share, which will be paid to shareholders on September 30th, representing an annualized yield of 0.7% and a payout ratio of 88.39%.

Rise Advisors LLC grew its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 32.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,082 shares of the semiconductor manufacturer's stock after acquiring an additional 747 shares during the quarter. Rise Advisors LLC's holdings in Broadcom were worth $516,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Sunbeam Capital Management LLC acquired a new position in Broadcom in the fourth quarter valued at about $28,000. Vermillion Wealth Management Inc. bought a new position in shares of Broadcom during the 4th quarter valued at about $30,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Broadcom during the 1st quarter valued at about $25,000. Cheviot Value Management LLC acquired a new position in shares of Broadcom in the 1st quarter valued at approximately $25,000. Finally, Inlight Wealth Management LLC bought a new stake in Broadcom during the 1st quarter worth approximately $26,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Stock Performance

Shares of AVGO opened at $334.89 on Friday. Broadcom Inc. has a 12 month low of $134.90 and a 12 month high of $356.34. The firm has a fifty day simple moving average of $292.09 and a 200 day simple moving average of $237.25. The stock has a market capitalization of $1.58 trillion, a price-to-earnings ratio of 85.43, a PEG ratio of 2.17 and a beta of 1.16. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly 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. Broadcom had a net margin of 31.59% and a return on equity of 37.17%. The firm had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. During the same period in the previous year, the business earned $1.24 EPS. The company's revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. Research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently declared 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 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 88.39%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on AVGO shares. Susquehanna lifted their price target on shares of Broadcom from $280.00 to $300.00 and gave the company a "positive" rating in a research note on Friday, June 6th. TD Cowen increased their price objective on shares of Broadcom from $355.00 to $370.00 and gave the stock a "buy" rating in a research report on Friday. Evercore ISI restated an "outperform" rating and set a $342.00 price objective (up from $304.00) on shares of Broadcom in a report on Thursday. Deutsche Bank Aktiengesellschaft upped their target price on shares of Broadcom from $300.00 to $350.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Benchmark increased their target price on Broadcom from $315.00 to $385.00 and gave the stock a "buy" rating in a report on Friday. Three investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $351.00.

Insider Activity

In other news, Director Gayla J. Delly sold 3,000 shares of the business's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $265.13, for a total transaction of $795,390.00. Following the transaction, the director directly owned 33,352 shares in the company, valued at $8,842,615.76. The trade was a 8.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Henry Samueli sold 473,898 shares of the firm's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the completion of the sale, the director owned 38,188,575 shares of the company's stock, valued at $10,132,574,604.75. This trade represents a 1.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 830,516 shares of company stock valued at $217,286,457. 2.00% of the stock is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.