SilverOak Wealth Management LLC Raises Stock Holdings in Broadcom Inc. $AVGO

Key Points

• SilverOak Wealth Management LLC increased its stake in Broadcom Inc. by 166.5%, owning 3,784 shares valued at $1,043,000 after acquiring an additional 2,364 shares in Q2.
• CEO Hock E. Tan sold 100,000 shares of Broadcom for approximately $34 million, reducing his position by 12.11%.
• The stock has a recent price target set at $460 by analysts, implying over a 30% upside potential.

SilverOak Wealth Management LLC boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 166.5% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 3,784 shares of the semiconductor manufacturer's stock after acquiring an additional 2,364 shares during the quarter. SilverOak Wealth Management LLC's holdings in Broadcom were worth $1,043,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of AVGO. Sawyer & Company Inc increased its holdings in Broadcom by 62.1% in the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock worth $26,000 after buying an additional 36 shares during the period. PFS Partners LLC lifted its stake in Broadcom by 38.4% during the 2nd quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer's stock valued at $38,000 after acquiring an additional 38 shares during the period. Costello Asset Management INC boosted its holdings in shares of Broadcom by 1.5% in the 2nd quarter. Costello Asset Management INC now owns 2,528 shares of the semiconductor manufacturer's stock valued at $697,000 after acquiring an additional 38 shares during the last quarter. Waddell & Associates LLC increased its stake in shares of Broadcom by 2.1% in the first quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer's stock worth $350,000 after acquiring an additional 43 shares during the period. Finally, Luts & Greenleigh Group Inc. raised its holdings in shares of Broadcom by 1.3% during the second quarter. Luts & Greenleigh Group Inc. now owns 3,405 shares of the semiconductor manufacturer's stock worth $939,000 after purchasing an additional 44 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In related news, CEO Hock E. Tan sold 100,000 shares of Broadcom stock in a transaction dated 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 sale, the chief executive officer directly owned 725,638 shares in the company, valued at approximately $246,412,152.04. The trade was a 12.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Charlie B. Kawwas sold 3,893 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total value of $1,354,063.26. Following the transaction, the insider directly owned 25,295 shares of the company's stock, valued at $8,798,106.90. The trade was a 13.34% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 3,550 shares of company stock valued at $1,227,869 and have sold 665,271 shares valued at $225,464,248. Company insiders own 2.00% of the company's stock.

Broadcom Stock Down 0.7%

Shares of AVGO opened at $340.30 on Thursday. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $374.23. The stock's 50 day moving average is $329.86 and its two-hundred day moving average is $272.43. The firm has a market cap of $1.61 trillion, a P/E ratio of 86.81, a PEG ratio of 1.93 and a beta of 1.20.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $15.82 billion. During the same period in the prior year, the company posted $1.24 EPS. The business's quarterly revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. Analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently disclosed 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. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Monday, September 22nd. Broadcom's dividend payout ratio (DPR) is presently 60.20%.

Analysts Set New Price Targets

Several equities research analysts have commented on AVGO shares. Weiss Ratings lowered shares of Broadcom from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, October 8th. The Goldman Sachs Group restated a "buy" rating and issued a $340.00 target price on shares of Broadcom in a research note on Wednesday, August 13th. Oppenheimer reiterated an "outperform" rating and set a $360.00 price target (up from $325.00) on shares of Broadcom in a research report on Friday, September 5th. Citigroup reissued a "buy" rating and issued a $415.00 price target (up from $350.00) on shares of Broadcom in a report on Tuesday, October 14th. Finally, Arete Research raised shares of Broadcom to a "strong-buy" rating in a research note on Monday, July 28th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $372.52.

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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