Smith Group Asset Management LLC Buys 2,820 Shares of Broadcom Inc. $AVGO

Smith Group Asset Management LLC raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 213,494 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,820 shares during the quarter. Broadcom comprises 3.9% of Smith Group Asset Management LLC’s holdings, making the stock its 2nd biggest position. Smith Group Asset Management LLC’s holdings in Broadcom were worth $58,850,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of AVGO. Nuveen LLC acquired a new stake in shares of Broadcom in the first quarter worth $6,649,117,000. Price T Rowe Associates Inc. MD increased its stake in shares of Broadcom by 37.8% in 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 acquiring an additional 17,985,046 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Broadcom by 16.7% in the first quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer’s stock worth $5,333,384,000 after acquiring an additional 4,550,647 shares during the period. Deutsche Bank AG increased its stake in shares of Broadcom by 36.9% in the first quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer’s stock worth $2,638,512,000 after acquiring an additional 4,245,345 shares during the period. Finally, Alliancebernstein L.P. increased its stake in shares of Broadcom by 16.0% in the first quarter. Alliancebernstein L.P. now owns 29,513,814 shares of the semiconductor manufacturer’s stock worth $4,941,498,000 after acquiring an additional 4,077,910 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $385.98 on Thursday. The company’s fifty day moving average price is $336.06 and its 200 day moving average price is $280.64. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $386.48. The company has a market capitalization of $1.82 trillion, a PE ratio of 98.46, a price-to-earnings-growth ratio of 2.10 and a beta of 1.20. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50.

Broadcom (NASDAQ:AVGO) last posted 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. The business had revenue of $15.95 billion for the quarter, compared to the consensus estimate of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The company’s revenue was up 22.0% compared to the same quarter last year. During the same period last year, the firm posted $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. On average, research analysts predict 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. Shareholders of record on Monday, September 22nd were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Monday, September 22nd. Broadcom’s dividend payout ratio (DPR) is presently 60.20%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AVGO. Mizuho set a $435.00 price objective on shares of Broadcom and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. Wells Fargo & Company increased their price objective on shares of Broadcom from $255.00 to $345.00 and gave the stock an “equal weight” rating in a research note on Friday, September 5th. The Goldman Sachs Group reiterated a “buy” rating and issued a $340.00 price objective on shares of Broadcom in a research note on Wednesday, August 13th. Barclays set a $450.00 price target on shares of Broadcom and gave the stock an “overweight” rating in a report on Tuesday, October 14th. Finally, Truist Financial increased their price target on shares of Broadcom from $295.00 to $365.00 and gave the stock a “buy” rating in a report on Friday, September 5th. Three analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $372.52.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Henry Samueli sold 368,797 shares of the stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $337.91, for a total transaction of $124,620,194.27. Following the transaction, the director directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 148,154 shares of the stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $336.67, for a total transaction of $49,879,007.18. Following the transaction, the chief executive officer directly owned 825,998 shares in the company, valued at approximately $278,088,746.66. The trade was a 15.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders bought 3,550 shares of company stock valued at $1,227,869 and sold 665,271 shares valued at $225,464,248. 2.00% of the stock is currently owned by company insiders.

Broadcom Company Profile

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.