Triasima Portfolio Management inc. Raises Stock Position in Broadcom Inc. $AVGO

Key Points

• Triasima Portfolio Management Inc. increased its stake in Broadcom Inc. by 10.2%, owning a total of 34,122 shares worth approximately $9.4 million, which makes Broadcom its 13th largest holding.
• Despite these investments, Broadcom's stock price is currently down by 5.9%, with shares valued at around $324.63.
• Broadcom recently reported earnings showing a 22% year-over-year revenue increase to $15.95 billion, beating analyst estimates, while also declaring a quarterly dividend of $0.59 per share.

Triasima Portfolio Management inc. grew its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 10.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,122 shares of the semiconductor manufacturer's stock after buying an additional 3,153 shares during the period. Broadcom makes up 1.7% of Triasima Portfolio Management inc.'s portfolio, making the stock its 13th largest holding. Triasima Portfolio Management inc.'s holdings in Broadcom were worth $9,406,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. REAP Financial Group LLC grew its stake in shares of Broadcom by 23.8% in the 2nd quarter. REAP Financial Group LLC now owns 1,005 shares of the semiconductor manufacturer's stock worth $277,000 after buying an additional 193 shares in the last quarter. Sax Wealth Advisors LLC boosted its stake in shares of Broadcom by 9.7% during the 2nd quarter. Sax Wealth Advisors LLC now owns 8,725 shares of the semiconductor manufacturer's stock worth $2,405,000 after purchasing an additional 772 shares during the period. TPG Financial Advisors LLC purchased a new position in shares of Broadcom during the 2nd quarter worth about $243,000. 1 North Wealth Services LLC boosted its stake in shares of Broadcom by 0.8% during the 2nd quarter. 1 North Wealth Services LLC now owns 13,404 shares of the semiconductor manufacturer's stock worth $3,695,000 after purchasing an additional 100 shares during the period. Finally, BankPlus Trust Department boosted its stake in shares of Broadcom by 13.4% during the 2nd quarter. BankPlus Trust Department now owns 3,013 shares of the semiconductor manufacturer's stock worth $831,000 after purchasing an additional 355 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Down 5.9%

Shares of NASDAQ:AVGO opened at $324.63 on Monday. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $374.23. The stock has a market cap of $1.53 trillion, a P/E ratio of 82.81, a price-to-earnings-growth ratio of 1.80 and a beta of 1.20. The business's 50 day moving average is $322.64 and its 200 day moving average is $263.58. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, beating the consensus estimate of $1.66 by $0.03. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The business 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 business posted $1.24 EPS. The company's quarterly revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. Sell-side analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

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

Analysts Set New Price Targets

AVGO has been the subject of a number of recent analyst reports. HSBC raised shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price target for the company in a research note on Tuesday, June 24th. KeyCorp reaffirmed an "overweight" rating and set a $420.00 price target (up from $400.00) on shares of Broadcom in a research note on Tuesday, September 30th. UBS Group lifted their price target on shares of Broadcom from $290.00 to $345.00 and gave the stock a "buy" rating in a research note on Monday, August 25th. JPMorgan Chase & Co. lifted their price objective on shares of Broadcom from $325.00 to $400.00 and gave the company an "overweight" rating in a report on Friday, September 5th. Finally, Weiss Ratings lowered shares of Broadcom from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $357.22.

Insiders Place Their Bets

In other news, Director Henry Samueli sold 368,797 shares of the business's stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $337.91, for a total value of $124,620,194.27. Following the completion of the sale, the director owned 37,722,534 shares in the company, valued at approximately $12,746,821,463.94. The trade was a 0.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 3,893 shares of the business's stock in a transaction dated Wednesday, September 17th. The shares were 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 owned 25,295 shares of the company's stock, valued at approximately $8,798,106.90. This represents a 13.34% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 3,550 shares of company stock worth $1,227,869 and have sold 664,471 shares worth $225,184,128. 2.00% of the stock is owned by company insiders.

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.

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.