Major investors have adjusted their shares in Broadcom. Legend Financial Advisors increased its stake by 72.7%, now holding 19 shares worth $25,000. Richardson Capital added shares valued at $29,000, while Delta Asset Management raised its holdings by 242.9%, owning 24 shares worth $32,000. Redmont Wealth Advisors and Creekmur Asset Management also bought new shares valued at $36,000 and $43,000, respectively. Overall, institutional investors own 76.43% of Broadcom’s stock.
Broadcom Stock Performance
Broadcom’s shares climbed $4.20 to $176.09 on Friday, with a trading volume of about 10.75 million shares. The stock has a market cap of $819.68 billion, and a P/E ratio of 7.52. It has a 1-year low of $81.17 and a high of $185.16.
Last quarter, Broadcom reported earnings of $1.24 per share, beating estimates of $1.20. Revenue was $13.07 billion, over the anticipated $12.98 billion, with a 47.3% year-over-year increase. Earnings for this year are expected to reach $3.78 per share.
Broadcom Increases Dividend
The company declared a quarterly dividend of $0.53, which was paid on September 30. This is a stable yield of 1.20% annually.
Analyst Ratings
TD Cowen upgraded Broadcom to “strong buy” on September 16. JPMorgan raised its target price from $200 to $210, while other analysts set price targets between $170 and $204. The average rating for Broadcom is “Moderate Buy” with a target of $189.23.
Insider Trading
Director Gayla J. Delly sold 750 shares for $130,897.50 on September 25. CEO Hock E. Tan sold 7,502 shares for approximately $12.8 million on July 11. Insiders sold 243,452 shares last quarter.
About Broadcom
Broadcom Inc designs and supplies semiconductor devices worldwide. It operates in Semiconductor Solutions and Infrastructure Software segments.
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