Riversedge Advisors LLC Increases Stock Holdings in Broadcom Inc. $AVGO

Key Points

• Riversedge Advisors LLC increased its position in Broadcom Inc. by 27.4% in Q2, owning 4,029 shares valued at $1,111,000.
• Broadcom's recent quarterly earnings showed an EPS of $1.69, surpassing estimates, alongside a 22% year-over-year revenue growth to $15.95 billion.
• A number of analysts have raised their target prices for Broadcom, with JPMorgan increasing it to $400.00 and maintaining an "overweight" rating.

Riversedge Advisors LLC lifted its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 27.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,029 shares of the semiconductor manufacturer's stock after purchasing an additional 867 shares during the quarter. Riversedge Advisors LLC's holdings in Broadcom were worth $1,111,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of AVGO. Brighton Jones LLC grew its holdings in shares of Broadcom by 21.8% in the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock valued at $6,882,000 after purchasing an additional 5,322 shares during the period. Revolve Wealth Partners LLC grew its holdings in shares of Broadcom by 10.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock valued at $1,854,000 after purchasing an additional 756 shares during the period. Bank Pictet & Cie Europe AG grew its holdings in shares of Broadcom by 16.4% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 221,199 shares of the semiconductor manufacturer's stock valued at $51,283,000 after purchasing an additional 31,225 shares during the period. Zurich Insurance Group Ltd FI grew its holdings in shares of Broadcom by 3.8% in the fourth quarter. Zurich Insurance Group Ltd FI now owns 1,280,164 shares of the semiconductor manufacturer's stock valued at $296,793,000 after purchasing an additional 46,922 shares during the period. Finally, Whitford Management LLC purchased a new stake in shares of Broadcom in the fourth quarter valued at about $9,104,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on AVGO. JPMorgan Chase & Co. upped their target price on shares of Broadcom from $325.00 to $400.00 and gave the company an "overweight" rating in a research report on Friday, September 5th. Arete Research raised shares of Broadcom to a "strong-buy" rating in a research report on Monday, July 28th. Argus upped their target price on shares of Broadcom from $285.00 to $375.00 and gave the company a "buy" rating in a research report on Monday, September 8th. Erste Group Bank raised shares of Broadcom from a "hold" rating to a "buy" rating in a research report on Thursday, June 5th. Finally, Evercore ISI reaffirmed an "outperform" rating and issued a $342.00 target price (up previously from $304.00) on shares of Broadcom in a research report on Thursday, September 4th. Three 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. Based on data from MarketBeat.com, Broadcom currently has a consensus rating of "Buy" and a consensus price target of $356.48.

Insider Buying and Selling

In other Broadcom news, Director Henry Samueli sold 473,898 shares of the stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total value of $125,739,356.34. Following the transaction, the director directly owned 38,188,575 shares in the company, valued at $10,132,574,604.75. This represents a 1.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kirsten M. Spears sold 36,350 shares of the stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $261.27, for a total transaction of $9,497,164.50. Following the completion of the transaction, the chief financial officer owned 325,587 shares in the company, valued at $85,066,115.49. This represents a 10.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders bought 3,550 shares of company stock valued at $1,227,869 and sold 793,802 shares valued at $220,478,166. Company insiders own 2.00% of the company's stock.

Broadcom Stock Down 1.1%

AVGO stock opened at $360.00 on Wednesday. The company's 50 day moving average price is $303.88 and its 200 day moving average price is $244.46. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. Broadcom Inc. has a fifty-two week low of $138.10 and a fifty-two week high of $374.23. The firm has a market capitalization of $1.70 trillion, a price-to-earnings ratio of 91.84, a PEG ratio of 2.01 and a beta of 1.16.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, beating the consensus estimate of $1.66 by $0.03. The company had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The firm's revenue was up 22.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. On average, equities research analysts anticipate 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 paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, September 22nd. Broadcom's dividend payout ratio is currently 60.20%.

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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