11,350 Shares in Broadcom Inc. $AVGO Purchased by Marvin & Palmer Associates Inc.
Marvin & Palmer Associates Inc. acquired 11,350 shares of Broadcom Inc., valued at $3,129,000, during the 2nd quarter. Broadcom is the 18th largest holding in their portfolio. Analysts have given Broadcom a consensus "Buy" rating with an average price target of $374.21. Insider trading activities include significant sales by insiders Mark David Brazeal and Justine Page. Broadcom's stock opened at $340.20, with a market cap of $1.61 trillion.
Marvin & Palmer Associates Inc. purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,350 shares of the semiconductor manufacturer's stock, valued at approximately $3,129,000. Broadcom accounts for approximately 2.7% of Marvin & Palmer Associates Inc.'s portfolio, making the stock its 18th largest holding.
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A number of other hedge funds also recently modified their holdings of AVGO. Sawyer & Company Inc lifted its position in Broadcom by 62.1% in the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock worth $26,000 after purchasing an additional 36 shares during the period. Legend Financial Advisors Inc. bought a new stake in Broadcom in the 2nd quarter valued at $28,000. LGT Financial Advisors LLC acquired a new position in shares of Broadcom in the 2nd quarter valued at $31,000. New England Capital Financial Advisors LLC bought a new position in shares of Broadcom during the 2nd quarter worth about $31,000. Finally, Maseco LLP bought a new position in shares of Broadcom during the 2nd quarter worth about $34,000. Institutional investors own 76.43% of the company's stock.
Analyst Ratings Changes
A number of analysts recently weighed in on the stock. KeyCorp set a $460.00 target price on shares of Broadcom in a research note on Monday, October 13th. Oppenheimer reiterated an "outperform" rating and issued a $360.00 price objective (up from $325.00) on shares of Broadcom in a research note on Friday, September 5th. Wall Street Zen upgraded Broadcom from a "hold" rating to a "buy" rating in a research report on Saturday, November 15th. Evercore ISI upped their price target on Broadcom from $342.00 to $403.00 and gave the company an "outperform" rating in a research report on Wednesday, October 15th. Finally, Wells Fargo & Company increased their price objective on Broadcom from $255.00 to $345.00 and gave the stock an "equal weight" rating in a research note on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, Broadcom presently has a consensus rating of "Buy" and an average price target of $374.21.
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View Our Latest Analysis on Broadcom
Insider Activity
In other Broadcom news, insider Mark David Brazeal sold 16,558 shares of the firm's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total value of $5,755,726.38. Following the completion of the sale, the insider owned 329,302 shares in the company, valued at approximately $114,468,668.22. This trade represents a 4.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Justine Page sold 800 shares of the company's stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $331.14, for a total transaction of $264,912.00. Following the transaction, the director owned 21,382 shares in the company, valued at $7,080,435.48. The trade was a 3.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have purchased 3,550 shares of company stock worth $1,227,869 and have sold 665,271 shares worth $225,483,192. Insiders own 2.00% of the company's stock.
Broadcom Stock Down 1.9%
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NASDAQ AVGO opened at $340.20 on Friday. The stock's 50 day simple moving average is $348.15 and its 200 day simple moving average is $299.89. Broadcom Inc. has a one year low of $138.10 and a one year high of $386.48. The firm has a market cap of $1.61 trillion, a PE ratio of 86.79, a price-to-earnings-growth ratio of 1.19 and a beta of 1.19. 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 issued its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.03. The firm had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The business's revenue for the quarter was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. As a group, sell-side analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.
Broadcom Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were given a dividend of $0.59 per share. The ex-dividend date was Monday, September 22nd. This represents a $2.36 annualized dividend and a yield of 0.7%. Broadcom's dividend payout ratio is 60.20%.
Broadcom Profile
(Free Report)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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