Recent changes by major investors in Broadcom include Legend Financial Advisors increasing its stake by 72.7%, now owning 19 shares worth $25,000. Richardson Capital Management bought shares valued at $29,000, Delta Asset Management raised its holdings by 242.9% to 24 shares worth $32,000, and Redmont Wealth Advisors invested about $36,000. Institutional investors own 76.43% of Broadcom.
Broadcom Stock Price
Broadcom stock (AVGO) opened at $175.08, with a market cap of $814.98 billion and a PE ratio of 7.53. The stock’s recent performance shows a low of $81.83 and a high of $185.16 in the last year.
Earnings Report
On September 5, Broadcom reported earnings of $1.24 per share, exceeding expectations. Revenue was $13.07 billion, up 47.3% year-over-year. Analysts expect 3.78 EPS for the current year.
Dividend Increase
Broadcom announced a quarterly dividend of $0.53, payable September 30, up from the previous amount. The annualized dividend is $2.12, with a yield of 1.21%.
Analyst Ratings
Brokerages have given Broadcom a “Moderate Buy” consensus rating, with a target price of $189.23. Notable ratings include Citigroup maintaining a “buy” at $156, and Piper Sandler raising their target to $200.
Insider Transactions
CEO Hock E. Tan sold 20,000 shares for $3.44 million on October 3 and 50,000 shares for $8.17 million on September 17. Insiders have sold 263,452 shares worth $56 million over the past 90 days.
About Broadcom
Broadcom Inc. designs and supplies semiconductor devices and operates in two segments: Semiconductor Solutions and Infrastructure Software.
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