Recent changes in Broadcom’s ownership include:
- Legend Financial Advisors increased its stake by 72.7%, now holding 19 shares worth $25,000.
- Richardson Capital Management bought $29,000 worth of new shares.
- Delta Asset Management raised its stake by 242.9%, holding 24 shares worth $32,000.
- Redmont Wealth Advisors purchased shares worth $36,000.
- Creekmur Asset Management bought in for $43,000 last quarter.
Overall, institutional and hedge fund investors own 76.43% of Broadcom’s stock.
Broadcom Stock Update
As of Tuesday, AVGO stock opened at $175.08, with a market cap of $814.98 billion. It has a PE ratio of 7.53 and a beta of 1.17. The stocks 52-week range is from $81.83 to $185.16.
Broadcom reported earnings on September 5. They posted $1.24 EPS, slightly above expectations, and revenue of $13.07 billion, a 47.3% increase from the same quarter last year. Analysts predict an EPS of 3.78 for the current year.
Dividend Announcement
Broadcom declared a quarterly dividend of $0.53, paid on September 30. This represents a 1.21% yield, based on an annualized payout of $2.12.
Analyst Ratings
Analysts have mixed views on AVGO. Citigroup maintains a buy rating with a price target of $156.00. UBS lowered its target from $173.50 to $170.00 but kept a buy rating. A total of 24 analysts rate it buys; only two have a hold rating.
Read Our Latest Stock Analysis on AVGO
Insider Transactions
CEO Hock E. Tan sold shares recently, with a total of 20,000 sold at $172.32 and another 50,000 at $163.37, totaling over $11.6 million. Insiders hold 2.00% of the company.
About Broadcom
Broadcom designs and supplies semiconductor devices globally, operating in Semiconductor Solutions and Infrastructure Software segments.
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Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com for the latest filings.
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