RMG Wealth Management LLC Acquires New Stake in Broadcom Inc. $AVGO

RMG Wealth Management LLC acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 266 shares of the semiconductor manufacturer’s stock, valued at approximately $75,000.

A number of other large investors also recently bought and sold shares of the business. Hardy Reed LLC grew its stake in Broadcom by 1.3% in the 2nd quarter. Hardy Reed LLC now owns 10,178 shares of the semiconductor manufacturer’s stock worth $2,806,000 after acquiring an additional 127 shares in the last quarter. MADDEN SECURITIES Corp grew its stake in Broadcom by 24.9% in the 2nd quarter. MADDEN SECURITIES Corp now owns 17,458 shares of the semiconductor manufacturer’s stock worth $4,812,000 after acquiring an additional 3,483 shares in the last quarter. Trueblood Wealth Management LLC grew its stake in Broadcom by 0.9% in the 2nd quarter. Trueblood Wealth Management LLC now owns 6,110 shares of the semiconductor manufacturer’s stock worth $1,684,000 after acquiring an additional 53 shares in the last quarter. Bennett Associates Wealth Management grew its stake in Broadcom by 29.6% in the 2nd quarter. Bennett Associates Wealth Management now owns 2,375 shares of the semiconductor manufacturer’s stock worth $655,000 after acquiring an additional 542 shares in the last quarter. Finally, Waycross Investment Management Co bought a new position in Broadcom in the 2nd quarter worth about $320,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Trading Down 5.9%

NASDAQ:AVGO opened at $324.63 on Friday. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $374.23. The firm has a 50 day moving average of $322.64 and a 200 day moving average of $262.95. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $1.53 trillion, a price-to-earnings ratio of 82.81, a PEG ratio of 1.80 and a beta of 1.20.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $15.82 billion. During the same quarter in the prior year, the company posted $1.24 earnings per share. Broadcom’s revenue for the quarter was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. As a group, sell-side analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were given 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 yield of 0.7%. Broadcom’s dividend payout ratio is presently 60.20%.

Insider Activity at Broadcom

In related 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 transaction 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 represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 sale, the chief financial officer directly owned 313,330 shares of the company’s stock, valued at $108,932,307.80. The trade was a 2.34% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have bought 3,550 shares of company stock valued at $1,227,869 and have sold 666,071 shares valued at $225,623,008. 2.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on AVGO. Citigroup upped their target price on shares of Broadcom from $315.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, September 5th. Barclays increased their price objective on shares of Broadcom from $265.00 to $400.00 and gave the company an “overweight” rating in a research note on Friday, September 5th. The Goldman Sachs Group reiterated a “buy” rating and set a $340.00 price objective on shares of Broadcom in a research note on Wednesday, August 13th. Bank of America increased their price objective on shares of Broadcom from $300.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, September 5th. Finally, Wall Street Zen upgraded shares of Broadcom from a “hold” rating to a “buy” rating in a research note on Saturday, September 6th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $357.22.

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.