Recent changes by institutional investors show strong interest in Broadcom. Global Wealth Strategies increased its shares by 2,000%, now owning 315 shares worth $54,000 after buying 300 more. Neville Rodie & Shaw also raised their position by 982.4%, acquiring an additional 39,286 shares, totaling 43,285 shares valued at $7.47 million. Other firms, like Mattson Financial Services and Greater Midwest Financial Group, also bought into Broadcom, pushing hedge funds and institutions to collectively hold 76.43% of the stock.
Broadcom Stock Performance
NASDAQ:AVGO opened at $170.66. The company has a market cap of $794.40 billion, with a price-to-earnings ratio of 7.34, and its 1-year low is $80.89, high is $185.16. The 50-day average is $158.69.
Broadcom’s recent earnings on September 5 showed $1.24 EPS, beating estimates of $1.20, with revenue at $13.07 billion, which is 47.3% higher year-over-year.
Broadcom Increases Dividend
Broadcom announced a quarterly dividend of $0.53 per share, yielding 1.24%. This dividend is up from the previous amount, with a payout ratio of 9.12%.
Insider Activity at Broadcom
Insider Charlie B. Kawwas sold 25,200 shares for about $4.24 million, retaining 753,280 shares. Director Gayla J. Delly sold 750 shares for around $130,900, keeping 34,750 shares. In total, company insiders sold 233,452 shares valued at over $51 million last quarter.
Wall Street Analyst Opinions
Analysts have generally positive views on Broadcom. Evercore ISI raised their target price to $201.00, while Citigroup and Bank of America reiterated “buy” ratings with target prices of $156.00 and $215.00, respectively. Overall, Broadcom has a “Moderate Buy” consensus rating with an average target price of $189.23.
Broadcom Company Profile
Broadcom Inc. designs and supplies semiconductor devices, operating across Semiconductor Solutions and Infrastructure Software segments.
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