Vancity Investment Management Ltd Purchases Shares of 24,791 Broadcom Inc. $AVGO

Key Points

• Vancity Investment Management Ltd acquired 24,791 shares of Broadcom Inc. (NASDAQ: AVGO), valued at approximately $4.15 million, according to a recent SEC filing.
• Institutional investors own 76.43% of Broadcom's stock, with several hedge funds significantly increasing their stakes in the company during the first quarter of the year.
• Broadcom announced a quarterly dividend of $0.59 per share, with an ex-dividend date set for September 22nd, reflecting an annualized yield of 0.7%.

Vancity Investment Management Ltd purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 24,791 shares of the semiconductor manufacturer's stock, valued at approximately $4,151,000.

Several other hedge funds have also bought and sold shares of AVGO. Nuveen LLC bought a new stake in Broadcom during the first quarter valued at about $6,649,117,000. Price T Rowe Associates Inc. MD lifted its position in shares of Broadcom by 37.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer's stock valued at $10,968,270,000 after acquiring an additional 17,985,046 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Broadcom by 18,179.3% in the first quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer's stock valued at $2,892,548,000 after acquiring an additional 17,181,652 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Broadcom by 16.7% in the first quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer's stock valued at $5,333,384,000 after acquiring an additional 4,550,647 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in shares of Broadcom by 36.9% in the first quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer's stock valued at $2,638,512,000 after acquiring an additional 4,245,345 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Broadcom Stock Up 9.4%

Broadcom stock opened at $334.89 on Monday. Broadcom Inc. has a twelve month low of $134.90 and a twelve month high of $356.34. The business has a fifty day moving average of $292.09 and a two-hundred day moving average of $237.38. 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 firm has a market cap of $1.58 trillion, a P/E ratio of 85.43, a P/E/G ratio of 2.38 and a beta of 1.16.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 last year, the business posted $1.24 EPS. The firm's quarterly revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. On average, analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 22nd will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, September 22nd. Broadcom's dividend payout ratio (DPR) is 60.20%.

Insiders Place Their Bets

In other news, CFO Kirsten M. Spears sold 56,310 shares of the company's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $251.75, for a total value of $14,176,042.50. Following the completion of the sale, the chief financial officer directly owned 361,937 shares of the company's stock, valued at approximately $91,117,639.75. This represents a 13.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Charlie B. Kawwas sold 10,000 shares of the business's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $252.88, for a total transaction of $2,528,800.00. Following the transaction, the insider owned 789,784 shares in the company, valued at approximately $199,720,577.92. This trade represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 830,516 shares of company stock valued at $217,286,457. Corporate insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price objective on Broadcom from $325.00 to $400.00 and gave the company an "overweight" rating in a research report on Friday. Citigroup boosted their price objective on Broadcom from $315.00 to $350.00 and gave the company a "buy" rating in a research report on Friday. Erste Group Bank upgraded Broadcom from a "hold" rating to a "buy" rating in a research report on Thursday, June 5th. Mizuho boosted their target price on Broadcom from $320.00 to $355.00 and gave the stock an "outperform" rating in a research report on Friday. Finally, Evercore ISI reiterated an "outperform" rating and issued a $342.00 target price (up from $304.00) on shares of Broadcom in a research report on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $351.00.

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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