Taikang Asset Management Hong Kong Co Ltd Acquires 1,746 Shares of Broadcom Inc. $AVGO

Key Points

• Taikang Asset Management Hong Kong Co Ltd increased its stake in Broadcom Inc. by 10.5%, owning a total of 18,346 shares valued at approximately $3.07 million after acquiring an additional 1,746 shares.
• Broadcom reported earnings per share of $1.58 for the last quarter, exceeding analysts' expectations, with a revenue of $15 billion and a year-over-year growth of 20.2%.
• In the recent quarter, multiple institutional investors, including PARUS FINANCE UK Ltd and OMNI 360 Wealth Inc., significantly increased their holdings in Broadcom, contributing to a total institutional ownership of 76.43%.

Taikang Asset Management Hong Kong Co Ltd lifted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 10.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,346 shares of the semiconductor manufacturer's stock after purchasing an additional 1,746 shares during the quarter. Taikang Asset Management Hong Kong Co Ltd's holdings in Broadcom were worth $3,072,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in AVGO. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Broadcom in the first quarter worth $25,000. Cheviot Value Management LLC bought a new stake in Broadcom during the first quarter worth $25,000. Inlight Wealth Management LLC bought a new stake in Broadcom during the first quarter worth $26,000. Sunbeam Capital Management LLC bought a new stake in Broadcom during the fourth quarter worth $28,000. Finally, Vermillion Wealth Management Inc. bought a new stake in Broadcom during the fourth quarter worth $30,000. Institutional investors own 76.43% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on AVGO. UBS Group upped their price target on shares of Broadcom from $290.00 to $345.00 and gave the stock a "buy" rating in a research report on Monday. KeyCorp upped their price target 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. Cowen reaffirmed a "buy" rating on shares of Broadcom in a research report on Friday, June 6th. HSBC upgraded shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price objective on the stock in a report on Tuesday, June 24th. Finally, Arete Research upgraded shares of Broadcom to a "strong-buy" rating in a research note on Monday, July 28th. Three research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Broadcom currently has a consensus rating of "Buy" and an average target price of $301.79.

Insider Transactions at Broadcom

In other news, CEO Hock E. Tan sold 117,758 shares of the stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $252.91, for a total value of $29,782,175.78. Following the completion of the transaction, the chief executive officer owned 1,014,152 shares of the company's stock, valued at approximately $256,489,182.32. This represents a 10.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 50,000 shares of the stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $253.28, for a total transaction of $12,664,000.00. Following the completion of the transaction, the insider directly owned 415,956 shares of the company's stock, valued at $105,353,335.68. This trade represents a 10.73% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 830,516 shares of company stock valued at $217,286,457. 2.00% of the stock is owned by company insiders.

Broadcom Price Performance

Shares of AVGO stock traded up $8.40 on Thursday, reaching $308.65. The company had a trading volume of 18,873,670 shares, compared to its average volume of 25,789,068. The stock has a market capitalization of $1.45 trillion, a PE ratio of 115.60, a price-to-earnings-growth ratio of 2.12 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 Inc. has a one year low of $134.90 and a one year high of $317.35. The business's 50-day moving average is $285.64 and its 200 day moving average is $233.74.

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

Broadcom Dividend Announcement

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

About Broadcom

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.