Recent Investor Activity in Broadcom
Several large investors have increased their shares in Broadcom (NASDAQ:AVGO):
- Legend Financial Advisors raised their stake by 72.7%, owning 19 shares worth $25,000.
- Richardson Capital Management invested $29,000 in Broadcom.
- Delta Asset Management increased their holdings by 242.9%, owning 24 shares valued at $32,000.
- Redmont Wealth Advisors invested about $36,000.
- Creekmur Asset Management bought shares worth around $43,000.
Institutional investors own 76.43% of Broadcom’s stock.
Broadcom Stock Overview
Broadcom’s stock rose by $4.20 to $176.09 with a trading volume of 10,754,999 shares on Friday. The 50-day moving average is $159.14. The company has a market cap of $819.68 billion and a price-to-earnings ratio of 7.52. It has a one-year low of $81.17 and a high of $185.16.
Quarterly Earnings Report
On September 5th, Broadcom reported earnings of $1.24 per share, exceeding estimates. Revenue reached $13.07 billion, a 47.3% increase from last year. Analysts anticipate an EPS of 3.78 for the current year.
Dividend Increase
Broadcom recently announced a quarterly dividend of $0.53 per share, up from the previous quarter. The dividend yield is 1.20% with a payout ratio of 9.12%.
Analyst Ratings
Analysts have positively rated Broadcom:
- TD Cowen upgraded it to “strong-buy”.
- JPMorgan raised their price target from $200 to $210.
- Truist increased their target from $156.60 to $204.50.
Overall, there are 24 “buy” ratings and one “strong buy”, with an average price target of $189.23.
Insider Transactions
Director Gayla J. Delly sold 750 shares recently for $130,897.50, maintaining a holding of 34,750 shares. CEO Hock E. Tan sold 7,502 shares for about $12.8 million. Insiders sold 243,452 shares valued at $52.95 million over the last quarter.
Company Overview
Broadcom Inc. designs and supplies semiconductor devices, focusing on digital and mixed signal technologies. It operates in two segments: Semiconductor Solutions and Infrastructure Software.
Featured Articles
- Five stocks we like better than Broadcom
- Trading Halts Explained
- The Outlook for Interest Rate Cuts Got Blown Out of the Water
- Stock Average Calculator
- 3 High-Risk, High-Reward Micro-Cap Stocks You Shouldnt Ignore
- Stocks with Unusual Volume: How to Find Unusual Volume Stocks in Real Time
- 3 Bargain Stocks Positioned for Gains After Missing 2024s Rally
Receive News & Ratings for Broadcom Daily – Subscribe below for a daily summary of the latest news and analyst ratings for Broadcom with MarketBeat.com’s FREE daily email newsletter.
`
