SMI Advisory Services LLC Buys New Shares in Broadcom Inc. $AVGO

SMI Advisory Services LLC purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 884 shares of the semiconductor manufacturer's stock, valued at approximately $248,000.

Other hedge funds also recently made changes to their positions in the company. PARUS FINANCE UK Ltd raised its holdings in shares of Broadcom by 175.3% in the 1st quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer's stock worth $16,840,000 after purchasing an additional 64,038 shares during the period. Geneos Wealth Management Inc. increased its position in Broadcom by 27.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 64,130 shares of the semiconductor manufacturer's stock worth $10,737,000 after purchasing an additional 13,978 shares in the last quarter. Asio Capital LLC raised its holdings in Broadcom by 2.0% in the second quarter. Asio Capital LLC now owns 54,459 shares of the semiconductor manufacturer's stock valued at $15,012,000 after buying an additional 1,089 shares during the period. Keener Financial Planning LLC lifted its position in Broadcom by 34.8% during the first quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer's stock valued at $149,000 after buying an additional 230 shares in the last quarter. Finally, Diversify Wealth Management LLC grew its stake in Broadcom by 5.6% during the first quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer's stock worth $6,365,000 after buying an additional 2,016 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on AVGO shares. KeyCorp reissued 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. JPMorgan Chase & Co. raised 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. Benchmark boosted their price objective on Broadcom from $315.00 to $385.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Barclays upped their target price on Broadcom from $265.00 to $400.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. Finally, Hsbc Global Res upgraded Broadcom from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 24th. Three analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $357.22.

Insider Activity

In other news, insider Mark David Brazeal sold 16,558 shares of the firm'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 transaction, the insider directly owned 329,302 shares of the company's stock, valued at approximately $114,468,668.22. This trade represents a 4.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charlie B. Kawwas sold 3,893 shares of the company's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total transaction of $1,354,063.26. Following the completion of the sale, 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 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.

Broadcom Trading Up 0.1%

Shares of NASDAQ AVGO opened at $338.37 on Friday. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $374.23. The company has a market cap of $1.60 trillion, a price-to-earnings ratio of 86.32, a price-to-earnings-growth ratio of 1.87 and a beta of 1.20. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. The stock's 50 day simple moving average is $318.43 and its 200 day simple moving average is $257.77.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued 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. The firm had revenue of $15.95 billion for 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%.The firm's revenue for the quarter was up 22.0% on a year-over-year basis. During the same period last year, the company earned $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. Equities research analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Monday, September 22nd. Broadcom's dividend payout ratio is 60.20%.

Broadcom Company 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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