Stonebridge Financial Group LLC Increases Holdings in Broadcom Inc. $AVGO

Key Points

• Stonebridge Financial Group LLC boosted its stake in Broadcom Inc. by 130.8% in Q2, owning nearly 1,983 shares worth $547,000 after acquiring an additional 1,124 shares.
• Several large investors also increased their holdings in Broadcom, with Horizon Bancorp increasing its stake by an impressive 1,181.1%, now owning 7,674 shares worth over $2.1 million.
• Broadcom recently reported earnings that exceeded expectations, with a 22.0% increase in revenue year-over-year, reaching $15.95 billion for the quarter.

Stonebridge Financial Group LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 130.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,983 shares of the semiconductor manufacturer's stock after buying an additional 1,124 shares during the period. Stonebridge Financial Group LLC's holdings in Broadcom were worth $547,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Horizon Bancorp Inc. IN increased its stake in shares of Broadcom by 1,181.1% during the 2nd quarter. Horizon Bancorp Inc. IN now owns 7,674 shares of the semiconductor manufacturer's stock worth $2,115,000 after purchasing an additional 7,075 shares during the last quarter. Ramirez Asset Management Inc. increased its stake in shares of Broadcom by 98.3% during the 2nd quarter. Ramirez Asset Management Inc. now owns 26,422 shares of the semiconductor manufacturer's stock worth $7,283,000 after purchasing an additional 13,100 shares during the last quarter. IFP Advisors Inc increased its position in Broadcom by 16.7% in the second quarter. IFP Advisors Inc now owns 62,333 shares of the semiconductor manufacturer's stock worth $17,195,000 after buying an additional 8,912 shares during the last quarter. Financial Security Advisor Inc. increased its position in Broadcom by 2.8% in the second quarter. Financial Security Advisor Inc. now owns 5,738 shares of the semiconductor manufacturer's stock worth $1,582,000 after buying an additional 154 shares during the last quarter. Finally, Lee Financial Co increased its position in Broadcom by 6.7% in the second quarter. Lee Financial Co now owns 23,449 shares of the semiconductor manufacturer's stock worth $6,464,000 after buying an additional 1,466 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Transactions at Broadcom

In other news, CFO Kirsten M. Spears sold 7,498 shares of the company's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total value of $2,606,754.68. Following the completion of the transaction, the chief financial officer directly owned 313,330 shares in the company, valued at approximately $108,932,307.80. This represents a 2.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark David Brazeal sold 16,558 shares of the company's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total value of $5,755,726.38. Following the completion of the transaction, the insider owned 329,302 shares of the company's stock, valued at $114,468,668.22. The trade was a 4.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders bought 3,550 shares of company stock worth $1,227,869 and sold 664,471 shares worth $225,184,128. 2.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on AVGO shares. The Goldman Sachs Group reissued a "buy" rating and issued a $340.00 price objective on shares of Broadcom in a report on Wednesday, August 13th. HSBC raised Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price objective for the company in a report on Tuesday, June 24th. Evercore ISI lifted their target price on shares of Broadcom from $342.00 to $403.00 and gave the stock an "outperform" rating in a research note on Wednesday. Rosenblatt Securities lifted their target price on shares of Broadcom from $340.00 to $400.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Finally, Wells Fargo & Company lifted their price objective on shares of Broadcom from $255.00 to $345.00 and gave the company an "equal weight" rating in a research note on Friday, September 5th. Three equities research 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. Based on data from MarketBeat, Broadcom presently has an average rating of "Buy" and an average target price of $372.33.

Broadcom Price Performance

Broadcom stock opened at $351.33 on Thursday. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $374.23. 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 stock has a market cap of $1.66 trillion, a price-to-earnings ratio of 89.63, a PEG ratio of 1.91 and a beta of 1.20. The business has a 50-day simple moving average of $325.83 and a 200 day simple moving average of $266.04.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS 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 company had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. During the same quarter in the previous year, the firm earned $1.24 earnings per share. Broadcom's revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. On average, research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

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