CMG Global Holdings LLC Invests $276,000 in Broadcom Inc. $AVGO

CMG Global Holdings LLC purchased a new position in Broadcom Inc. (NASDAQ:AVGO) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 938 shares of the semiconductor manufacturer’s stock, valued at approximately $276,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AVGO. Nuveen LLC acquired a new stake in Broadcom during the first quarter worth about $6,649,117,000. Price T Rowe Associates Inc. MD increased its position in Broadcom by 37.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer’s stock worth $10,968,270,000 after purchasing an additional 17,985,046 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Broadcom by 16.7% during the first quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer’s stock valued at $5,333,384,000 after acquiring an additional 4,550,647 shares during the last quarter. Deutsche Bank AG increased its position in shares of Broadcom by 36.9% during the first quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer’s stock valued at $2,638,512,000 after acquiring an additional 4,245,345 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of Broadcom by 16.0% during the first quarter. Alliancebernstein L.P. now owns 29,513,814 shares of the semiconductor manufacturer’s stock valued at $4,941,498,000 after acquiring an additional 4,077,910 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AVGO. JPMorgan Chase & Co. lifted their price target on shares of Broadcom from $325.00 to $400.00 and gave the company an “overweight” rating in a research report on Friday, September 5th. Morgan Stanley set a $409.00 price target on shares of Broadcom and gave the company an “overweight” rating in a research report on Tuesday, October 14th. Rosenblatt Securities lifted their price target on shares of Broadcom from $340.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, September 5th. Macquarie started coverage on shares of Broadcom in a research note on Monday, September 15th. They issued an “outperform” rating and a $420.00 price objective for the company. Finally, Citigroup reissued a “buy” rating and issued a $415.00 price objective (up previously from $350.00) on shares of Broadcom in a research note on Tuesday, October 14th. Three analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $372.52.

Broadcom Stock Performance

Shares of Broadcom stock opened at $354.13 on Friday. The firm’s fifty day simple moving average is $331.47 and its 200-day simple moving average is $275.94. The stock has a market capitalization of $1.67 trillion, a price-to-earnings ratio of 90.34, a PEG ratio of 1.99 and a beta of 1.20. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $374.23. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.03. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The company had revenue of $15.95 billion for the quarter, compared to analysts’ expectations of $15.82 billion. During the same period in the previous year, the company posted $1.24 EPS. Broadcom’s revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. As a group, equities analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom’s dividend payout ratio is currently 60.20%.

Insider Activity at Broadcom

In other Broadcom news, Director Henry Samueli sold 368,797 shares of the stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $337.91, for a total value of $124,620,194.27. Following the completion of the sale, the director owned 37,722,534 shares of the company’s stock, valued at $12,746,821,463.94. This trade represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kirsten M. Spears sold 7,498 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the completion of the sale, the chief financial officer directly owned 313,330 shares of the company’s stock, valued at $108,932,307.80. This trade represents a 2.34% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 3,550 shares of company stock worth $1,227,869 and have sold 665,271 shares worth $225,464,248. 2.00% of the stock is owned by insiders.

About Broadcom

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.