Stony Point Capital LLC Boosts Holdings in Broadcom Inc. $AVGO

Key Points

• Stony Point Capital LLC increased its holdings in Broadcom Inc. by 181.1% during the 1st quarter, now owning 160,766 shares valued at approximately $26.9 million.
• Broadcom reported earnings of $1.58 EPS for the quarter, exceeding analysts' expectations and marking a 20.2% year-over-year revenue increase to $15 billion.
• The firm has announced a quarterly dividend of $0.59, reflecting an annualized basis of $2.36, with a dividend yield of 0.8%.

Stony Point Capital LLC raised its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 181.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 160,766 shares of the semiconductor manufacturer's stock after buying an additional 103,568 shares during the quarter. Broadcom makes up approximately 2.8% of Stony Point Capital LLC's holdings, making the stock its 14th largest holding. Stony Point Capital LLC's holdings in Broadcom were worth $26,917,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barnes Dennig Private Wealth Management LLC purchased a new stake in Broadcom in the 1st quarter valued at about $25,000. Cheviot Value Management LLC purchased a new stake in Broadcom in the 1st quarter valued at about $25,000. Inlight Wealth Management LLC purchased a new stake in Broadcom in the 1st quarter valued at about $26,000. Sunbeam Capital Management LLC purchased a new stake in Broadcom in the 4th quarter valued at about $28,000. Finally, Vermillion Wealth Management Inc. purchased a new stake in Broadcom in the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom Stock Performance

Shares of AVGO opened at $308.65 on Friday. The business's 50 day moving average is $286.79 and its two-hundred day moving average is $234.25. Broadcom Inc. has a 52-week low of $134.90 and a 52-week high of $317.35. The firm has a market cap of $1.45 trillion, a price-to-earnings ratio of 115.60, a PEG ratio of 2.14 and a beta of 1.15. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.57 by $0.01. Broadcom had a return on equity of 35.49% and a net margin of 22.64%.The company had revenue of $15 billion for the quarter, compared to analyst estimates of $14.98 billion. During the same period in the prior year, the company posted $10.96 EPS. Broadcom's quarterly revenue was up 20.2% on a year-over-year basis. Broadcom has set its Q3 2025 guidance at EPS. Analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom's dividend payout ratio is presently 88.39%.

Analyst Ratings Changes

AVGO has been the subject of a number of research reports. Citigroup boosted their target price on Broadcom from $285.00 to $315.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Oppenheimer reiterated an "outperform" rating and set a $325.00 target price (up previously from $305.00) on shares of Broadcom in a report on Thursday. UBS Group boosted their target price on Broadcom from $290.00 to $345.00 and gave the stock a "buy" rating in a report on Monday. Wells Fargo & Company boosted their target price on Broadcom from $230.00 to $255.00 and gave the stock an "equal weight" rating in a report on Friday, June 6th. Finally, KeyCorp boosted their target price on Broadcom from $315.00 to $330.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $301.79.

Insider Buying and Selling

In other Broadcom news, CFO Kirsten M. Spears sold 56,310 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $251.75, for a total value of $14,176,042.50. Following the transaction, the chief financial officer directly owned 361,937 shares of the company's stock, valued at $91,117,639.75. This represents a 13.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $252.88, for a total value of $2,528,800.00. Following the sale, the insider directly owned 789,784 shares in the company, valued at approximately $199,720,577.92. This represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 830,516 shares of company stock worth $217,286,457 over the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

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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