Wooster Corthell Wealth Management Inc. Buys New Shares in Broadcom Inc. $AVGO

Key Points

• Wooster Corthell Wealth Management Inc. has acquired a new stake in Broadcom Inc., purchasing 1,033 shares valued at approximately $285,000.
• Broadcom's stock recently saw an increase in price targets, with analysts such as JPMorgan Chase and Mizuho raising their targets to between $400 and $410.
• The company reported a significant quarterly earnings performance, with an earnings per share of $1.69, surpassing analyst expectations and showing a 22% increase in revenue year-over-year.

Wooster Corthell Wealth Management Inc. purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,033 shares of the semiconductor manufacturer's stock, valued at approximately $285,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sawyer & Company Inc lifted its position in Broadcom by 62.1% in the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock worth $26,000 after buying an additional 36 shares during the last quarter. Vermillion Wealth Management Inc. purchased a new position in shares of Broadcom during the fourth quarter worth approximately $30,000. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Broadcom in the 1st quarter worth approximately $25,000. Cheviot Value Management LLC purchased a new stake in shares of Broadcom in the 1st quarter valued at $25,000. Finally, Inlight Wealth Management LLC bought a new position in shares of Broadcom during the 1st quarter valued at $26,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Up 0.0%

Shares of Broadcom stock opened at $338.94 on Wednesday. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $374.23. The firm has a market cap of $1.60 trillion, a price-to-earnings ratio of 86.46, a PEG ratio of 1.87 and a beta of 1.16. The company has a 50-day moving average of $310.48 and a 200 day moving average of $249.83. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $15.82 billion. During the same quarter in the prior year, the company earned $1.24 earnings per share. The business's revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. As a group, sell-side analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd will be paid a dividend of $0.59 per share. The ex-dividend date is Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Broadcom's payout ratio is presently 60.20%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of Broadcom from $325.00 to $400.00 and gave the stock an "overweight" rating in a research note on Friday, September 5th. Mizuho increased their target price on Broadcom from $355.00 to $410.00 and gave the company an "outperform" rating in a report on Friday, September 12th. Arete Research raised Broadcom to a "strong-buy" rating in a research note on Monday, July 28th. The Goldman Sachs Group reiterated a "buy" rating and issued a $340.00 price objective on shares of Broadcom in a research report on Wednesday, August 13th. Finally, TD Cowen raised their target price on shares of Broadcom from $355.00 to $370.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $356.48.

Insider Buying and Selling at Broadcom

In other news, insider Charlie B. Kawwas sold 3,893 shares of the stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total value of $1,354,063.26. Following the sale, the insider directly owned 25,295 shares of the company's stock, valued at approximately $8,798,106.90. This represents a 13.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kirsten M. Spears sold 7,498 shares of the firm's stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total value of $2,606,754.68. Following the transaction, the chief financial officer owned 313,330 shares of the company's stock, valued at $108,932,307.80. The trade was a 2.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 3,550 shares of company stock valued at $1,227,869 and have sold 240,274 shares valued at $78,571,804. 2.00% of the stock is owned by corporate 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.

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