T. Rowe Price Investment Management Inc. Purchases 486,760 Shares of Broadcom Inc. $AVGO

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in Broadcom Inc. by 21.3%, acquiring an additional 486,760 shares to total approximately 2.78 million shares valued at $464.87 million.
• Broadcom recently declared a quarterly dividend of $0.59 per share, with a dividend yield of 0.8% and a payout ratio of 88.39%.
• Analysts maintain a generally positive outlook on Broadcom, with a consensus rating of "Buy" and a target price of approximately $295.96.

T. Rowe Price Investment Management Inc. boosted its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 21.3% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,776,513 shares of the semiconductor manufacturer's stock after purchasing an additional 486,760 shares during the period. T. Rowe Price Investment Management Inc. owned about 0.06% of Broadcom worth $464,872,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Capital Analysts LLC grew its position in Broadcom by 1.6% in the 1st quarter. Capital Analysts LLC now owns 89,346 shares of the semiconductor manufacturer's stock worth $14,960,000 after purchasing an additional 1,421 shares in the last quarter. Erste Asset Management GmbH grew its position in Broadcom by 7.1% in the 1st quarter. Erste Asset Management GmbH now owns 526,342 shares of the semiconductor manufacturer's stock worth $89,031,000 after purchasing an additional 34,700 shares in the last quarter. Decatur Capital Management Inc. grew its position in Broadcom by 8.1% in the 1st quarter. Decatur Capital Management Inc. now owns 33,425 shares of the semiconductor manufacturer's stock worth $5,596,000 after purchasing an additional 2,508 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. grew its position in Broadcom by 47.6% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 760,816 shares of the semiconductor manufacturer's stock worth $127,232,000 after purchasing an additional 245,428 shares in the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. grew its position in Broadcom by 41.0% in the 1st quarter. Van Lanschot Kempen Investment Management N.V. now owns 330,167 shares of the semiconductor manufacturer's stock worth $55,280,000 after purchasing an additional 96,077 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on AVGO shares. KeyCorp upped their price objective on shares of Broadcom from $315.00 to $330.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Bank of America upped their price objective on shares of Broadcom from $240.00 to $300.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Cowen reaffirmed a "buy" rating on shares of Broadcom in a research report on Friday, June 6th. HSBC raised shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price objective for the company in a research report on Tuesday, June 24th. Finally, JPMorgan Chase & Co. increased their target price on shares of Broadcom from $250.00 to $325.00 and gave the company an "overweight" rating in a research report on Friday, June 6th. Three research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $295.96.

Broadcom Stock Down 3.5%

Broadcom stock opened at $294.91 on Wednesday. Broadcom Inc. has a twelve month low of $134.90 and a twelve month high of $317.35. The firm has a 50 day moving average price of $280.51 and a 200-day moving average price of $230.93. The company has a market capitalization of $1.39 trillion, a P/E ratio of 110.45, a P/E/G ratio of 2.17 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 released its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $1.57 by $0.01. The firm had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The company's revenue was up 20.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $10.96 EPS. Broadcom has set its Q3 2025 guidance at EPS. As a group, equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

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

Insider Activity at Broadcom

In related news, Director Henry Samueli sold 473,898 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the sale, the director directly owned 38,188,575 shares in the company, valued at approximately $10,132,574,604.75. This represents a 1.23% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Gayla J. Delly sold 3,000 shares of the company's stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $265.13, for a total transaction of $795,390.00. Following the sale, the director owned 33,352 shares in the company, valued at $8,842,615.76. The trade was a 8.25% 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 in the last ninety days. Insiders own 2.00% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.