Multiple hedge funds have adjusted their investments in Broadcom. For instance, Legend Financial Advisors boosted their holdings by 72.7%, now owning 19 shares worth $25,000. Richardson Capital Management acquired a new position valued at about $29,000. Delta Asset Management increased their shares by 242.9%, owning 24 shares valued at $32,000. Redmont Wealth Advisors also bought shares worth $36,000. Lastly, Tsfg LLC raised their position by a staggering 1,073.7%, now holding 223 shares valued at $38,000. Overall, 76.43% of Broadcom’s stock is owned by hedge funds and institutions.
Wall Street Analysts Predict Growth
Analysts have expressed positive views on Broadcom. Benchmark maintained a “buy” rating with a target of $210, while Goldman Sachs raised their target from $185 to $190, also rating it as “buy.” Truist increased their target slightly to $205, and UBS lowered theirs to $170 but still rated it as “buy.” Cantor Fitzgerald raised their price target to $225 with an “overweight” rating. Currently, Broadcom has 2 hold ratings, 24 buy ratings, and one strong buy, resulting in an average rating of “Moderate Buy” with a target of around $191.54.
Get Our Latest Stock Analysis on AVGO
Insider Transactions
Recently, insider Charlie B. Kawwas sold 15,950 shares for $2,893,968, retaining 737,330 shares valued at $133.8 million, unaffected in percentage terms. CEO Hock E. Tan also sold 50,000 shares for $8,168,500, now owning 1,331,910 shares worth about $217.6 million. In total, insiders sold 311,080 shares valued at $53.5 million over the last three months, and they own 2% of the company.
Broadcom Stock Update
On Friday, AVGO stock opened at $179.89. Its 50-day and 200-day moving averages are $166.52 and $153.25, respectively. The company holds a market cap of $837.37 billion, with a PE ratio of 7.74. Broadcom’s stock has fluctuated between a low of $81.83 and a high of $186.42 over the past year.
On September 5th, Broadcom reported quarterly earnings of $1.24 per share, surpassing estimates of $1.20, with a revenue of $13.07 billion, above the $12.98 billion expectation. The company recorded a 47.3% year-over-year revenue increase and anticipates an EPS of 3.78 for the current year.
Dividend Increase
Broadcom recently declared a quarterly dividend of $0.53, paid on September 30th to shareholders recorded on September 19th. This marks a consistent dividend, giving an annualized yield of 1.18% with a payout ratio of 9.12%.
Broadcom Company Overview
Broadcom Inc. focuses on developing semiconductor devices, particularly in digital and mixed-signal products. They operate in two segments: Semiconductor Solutions and Infrastructure Software.
Further Reading
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