Recently, several major investors changed their holdings in Broadcom. Legend Financial Advisors increased its stake by 72.7%, now holding 19 shares valued at $25,000 after buying 8 more. Richardson Capital Management bought shares worth about $29,000, and Delta Asset Management increased its shares by 242.9% to 24, now valued at $32,000 after adding 17 shares. Redmont Wealth Advisors also entered a new position valued at $36,000, while Creekmur Asset Management bought $43,000 worth. Overall, institutional investors own 76.43% of Broadcom stock.
Broadcom Stock Overview
AVGO stock opened at $175.08. Broadcom has a market cap of $814.98 billion, a PE ratio of 7.53, and operates with a debt-to-equity ratio of 1.02. Its 52-week low is $81.83, and its high is $185.16.
In its recent earnings report on September 5th, Broadcom announced $1.24 earnings per share, exceeding expectations of $1.20, with revenue of $13.07 billion, up 47.3% from last year.
Dividend Announcement
Broadcom recently declared a quarterly dividend of $0.53, up from the previous $0.53, yielding an annual $2.12 and a 1.21% yield. The current dividend payout ratio is 9.12%.
Analyst Ratings
Brokerage firms have given Broadcom positive ratings. Citigroup maintains a buy rating with a $156 target, while UBS decreased its target to $170. Wells Fargo and Piper Sandler have also raised their targets to $170 and $200 respectively. Overall, Broadcom has a consensus rating of Moderate Buy with a target price of $189.23.
Read Our Latest Stock Analysis on AVGO
Insider Trading
CEO Hock E. Tan sold 20,000 shares on October 3rd for $3.4 million, reducing his position slightly. He also sold 50,000 shares on September 17th. In total, insiders have sold 263,452 shares valued at $56.4 million in the last 90 days, holding 2% of the company.
About Broadcom
Broadcom Inc designs and supplies semiconductor devices worldwide, focusing on digital and mixed signal products. The company has two main segments: Semiconductor Solutions and Infrastructure Software.
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