Several large investors have increased their stakes in Broadcom recently. Legend Financial Advisors raised its investment by 72.7% in Q1 and now holds 19 shares valued at $25,000 after buying 8 more. Richardson Capital invested $29,000 in Broadcom, while Delta Asset Management grew its holdings by 242.9%, now owning 24 shares worth $32,000. Redmont Wealth Advisors and Creekmur Asset Management also made new investments. Currently, institutional and hedge fund investors own 76.43% of Broadcom.
Broadcom Stock Performance
Shares of NASDAQ:AVGO rose $4.20 on Friday to $176.09, with a trading volume of 10,754,999. The stock’s 50-day average is $159.14, and the 200-day average is $149.44. Broadcom has a market cap of $819.68 billion, a P/E ratio of 7.52, and a beta of 1.17. Its 1-year low is $81.17, and the high is $185.16, with a debt-to-equity ratio of 1.02.
Broadcoms latest quarterly earnings, announced on September 5th, showed an EPS of $1.24, exceeding forecasts of $1.20. The company reported $13.07 billion in revenue, above the estimate of $12.98 billion, with year-over-year revenue growth of 47.3%. Analysts predict an EPS of 3.78 for the current year.
Broadcom Increases Dividend
On September 30th, Broadcom declared a quarterly dividend of $0.53, consistent with previous payments. This translates to an annualized dividend of $2.12, with a yield of 1.20%. The payout ratio stands at 9.12%.
Analyst Upgrades
Several analysts have rated AVGO stock recently. TD Cowen upgraded Broadcom to strong-buy, while JPMorgan raised their target price from $200 to $210. Truist Financial increased their target to $204.50, and Piper Sandler raised theirs to $200. The average rating for Broadcom is Moderate Buy with a price target of $189.23.
Check Out Our Latest Report on AVGO
Insider Trading
Director Gayla J. Delly sold 750 shares on September 25th for $130,897.50, maintaining 34,750 shares worth over $6 million. CEO Hock E. Tan sold 7,502 shares on July 11th for about $12.8 million, keeping 138,191 shares valued at approximately $236 million. Insiders sold a total of 243,452 shares recently, while they own 2.00% of the company.
Company Overview
Broadcom Inc. designs and supplies semiconductor devices, focusing on digital and mixed-signal products. The company operates in two main areas: Semiconductor Solutions and Infrastructure Software.
Featured Articles
- Five stocks we like better than Broadcom
- Trading Halts Explained
- Outlook for Interest Rate Cuts
- Stock Average Calculator
- 3 High-Risk, High-Reward Micro-Cap Stocks
- Finding Unusual Volume Stocks
- 3 Bargain Stocks for Potential Gains
Receive Daily Broadcom Updates – Enter your email to get the latest news and ratings for Broadcom and similar companies with MarketBeat.com’s FREE daily email newsletter.
`
