WT Asset Management Ltd Makes New Investment in Broadcom Inc. $AVGO

WT Asset Management Ltd bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 542,300 shares of the semiconductor manufacturer's stock, valued at approximately $149,485,000. Broadcom makes up 10.5% of WT Asset Management Ltd's portfolio, making the stock its 3rd largest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Broadcom in the 1st quarter valued at about $25,000. Cheviot Value Management LLC bought a new stake in shares of Broadcom in the 1st quarter valued at about $25,000. Inlight Wealth Management LLC bought a new stake in shares of Broadcom in the 1st quarter valued at about $26,000. Sawyer & Company Inc boosted its holdings in shares of Broadcom by 62.1% in the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock valued at $26,000 after buying an additional 36 shares in the last quarter. Finally, Legend Financial Advisors Inc. bought a new stake in shares of Broadcom in the 2nd quarter valued at about $28,000. 76.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AVGO has been the topic of a number of recent analyst reports. Evercore ISI restated an "outperform" rating and issued a $342.00 price target (up from $304.00) on shares of Broadcom in a report on Thursday, September 4th. Arete Research upgraded shares of Broadcom to a "strong-buy" rating in a report on Monday, July 28th. Citigroup increased their price objective on shares of Broadcom from $315.00 to $350.00 and gave the company a "buy" rating in a research report on Friday, September 5th. JPMorgan Chase & Co. increased their price objective on shares of Broadcom from $325.00 to $400.00 and gave the company an "overweight" rating in a research report on Friday, September 5th. Finally, Morgan Stanley increased their price objective on shares of Broadcom from $338.00 to $357.00 and gave the company an "overweight" rating in a research report on Tuesday, September 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $357.22.

Insider Buying and Selling at Broadcom

In other news, Director Henry Samueli sold 368,797 shares of the firm's stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $337.91, for a total transaction of $124,620,194.27. Following the sale, the director owned 37,722,534 shares of the company's stock, valued at $12,746,821,463.94. This trade represents a 0.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Charlie B. Kawwas sold 3,893 shares of the firm's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total transaction of $1,354,063.26. Following the sale, the insider directly owned 25,295 shares in the company, valued at $8,798,106.90. The trade was a 13.34% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 3,550 shares of company stock worth $1,227,869 and have sold 666,071 shares worth $225,623,008. Company insiders own 2.00% of the company's stock.

Broadcom Stock Performance

AVGO opened at $345.50 on Thursday. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $374.23. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $1.63 trillion, a PE ratio of 88.14, a P/E/G ratio of 1.86 and a beta of 1.20. The firm has a 50 day moving average of $320.89 and a two-hundred day moving average of $260.37.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly 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 net margin of 31.59% and a return on equity of 36.60%. The company had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. During the same period last year, the firm posted $1.24 EPS. Broadcom's revenue for the quarter was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. On average, analysts anticipate 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. Shareholders of record on Monday, September 22nd were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Broadcom's dividend payout ratio (DPR) is currently 60.20%.

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.

Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGO - Free Report).

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.