Recently, several institutional investors changed their holdings in Broadcom. Global Wealth Strategies increased its shares by 2,000%, now owning 315 shares worth $54,000 after acquiring 300 more. Neville Rodie & Shaw raised its stake by 982.4%, owning 43,285 shares valued at $7.47 million after buying 39,286 shares. Mattson Financial Services invested around $2.33 million in the second quarter, while Alternative Investment Advisors spent about $3.16 million. Greater Midwest Financial Group increased its holdings by 868.6%, now holding 47,925 shares worth $76.95 million. Currently, 76.43% of Broadcom’s stock is owned by hedge funds and other institutional investors.
Broadcom Stock Performance
NASDAQ:AVGO opened at $170.66. Broadcom has a debt-to-equity ratio of 1.02, a current ratio of 1.04, and a quick ratio of 0.94. Its one-year low is $80.89 and high is $185.16. The 50-day average is $158.69 and the 200-day average is $149.13. The company has a market cap of $794.40 billion, a price-to-earnings ratio of 7.34, a PEG ratio of 2.78, and a beta of 1.17.
Broadcom announced its latest earnings on September 5, reporting $1.24 EPS, surpassing expectations by $0.04, with revenues of $13.07 billion compared to the expected $12.98 billion. Year-over-year, revenue grew by 47.3%. Analysts predict Broadcom will earn $3.78 EPS this fiscal year.
Broadcom Increases Dividend
Broadcom declared a quarterly dividend of $0.53 per share, paid on September 30, showcasing a yield of 1.24%. This reflects an increase from its previous dividend of the same amount.
Insider Activity at Broadcom
Insider Charlie B. Kawwas sold 25,200 shares on September 19 for $4.24 million, retaining 753,280 shares valued at about $126.75 million. Director Gayla J. Delly sold 750 shares on September 25 for $130,897. In total, insiders sold 233,452 shares worth $51.28 million last quarter, with insiders owning 2.00% of the company.
Wall Street Analyst Weigh In
Analysts have been positive about Broadcom, with Evercore ISI raising its target from $162 to $201. Citigroup and Bank of America reaffirmed their “buy” ratings, with target prices of $156 and $215 respectively. Currently, Broadcom has a consensus rating of “Moderate Buy” with an average target price of $189.23.
Read Our Latest Analysis on Broadcom
Broadcom Company Profile
Broadcom Inc specializes in designing and supplying semiconductor devices globally, focusing on complex digital, mixed signal, and analog products. Its operations are categorized into Semiconductor Solutions and Infrastructure Software.
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