Phocas Financial Corp. Makes New Investment in Broadcom Inc. $AVGO

Phocas Financial Corp. bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the second quarter, Holdings Channel.com reports. The fund bought 900 shares of the semiconductor manufacturer’s stock, valued at approximately $248,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of AVGO. Assetmark Inc. increased its holdings in shares of Broadcom by 2.4% in the second quarter. Assetmark Inc. now owns 1,703,487 shares of the semiconductor manufacturer’s stock valued at $469,566,000 after purchasing an additional 39,466 shares during the period. PARUS FINANCE UK Ltd grew its position in Broadcom by 175.3% in the 1st quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer’s stock valued at $16,840,000 after buying an additional 64,038 shares during the last quarter. Geneos Wealth Management Inc. grew its position in Broadcom by 27.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 64,130 shares of the semiconductor manufacturer’s stock valued at $10,737,000 after buying an additional 13,978 shares during the last quarter. Ethic Inc. increased its stake in Broadcom by 1.6% in the 2nd quarter. Ethic Inc. now owns 329,339 shares of the semiconductor manufacturer’s stock valued at $88,708,000 after buying an additional 5,249 shares during the period. Finally, Asio Capital LLC raised its position in Broadcom by 2.0% during the 2nd quarter. Asio Capital LLC now owns 54,459 shares of the semiconductor manufacturer’s stock worth $15,012,000 after buying an additional 1,089 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AVGO has been the subject of several recent analyst reports. Wells Fargo & Company raised their target price 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. Benchmark raised their price objective on shares of Broadcom from $315.00 to $385.00 and gave the company a “buy” rating in a research report on Friday, September 5th. Argus lifted their price objective on Broadcom from $285.00 to $375.00 and gave the company a “buy” rating in a report on Monday, September 8th. Mizuho set a $435.00 target price on Broadcom and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. Finally, JPMorgan Chase & Co. increased their target price on Broadcom from $325.00 to $400.00 and gave the stock an “overweight” rating in a research note on Friday, September 5th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $372.52.

Insiders Place Their Bets

In other news, insider Charlie B. Kawwas sold 3,893 shares of Broadcom stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total transaction of $1,354,063.26. Following the completion of the transaction, the insider owned 25,295 shares of the company’s stock, valued at $8,798,106.90. The trade was a 13.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Kirsten M. Spears sold 7,498 shares of the business’s stock in a transaction dated Wednesday, September 17th. The stock was 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 owned 313,330 shares in the company, valued at $108,932,307.80. This represents a 2.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have bought 3,550 shares of company stock valued at $1,227,869 and have sold 665,271 shares valued at $225,464,248. Corporate insiders own 2.00% of the company’s stock.

Broadcom Trading Down 1.7%

Shares of Broadcom stock opened at $349.43 on Monday. The company has a 50-day moving average of $344.91 and a two-hundred day moving average of $290.63. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $386.48. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. The stock has a market cap of $1.65 trillion, a PE ratio of 89.14, a price-to-earnings-growth ratio of 1.41 and a beta of 1.19.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping the consensus estimate of $1.66 by $0.03. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The business had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. During the same quarter in the previous year, the company earned $1.24 EPS. The company’s quarterly revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. On average, research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were issued a $0.59 dividend. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $2.36 annualized dividend and a yield of 0.7%. Broadcom’s dividend payout ratio is 60.20%.

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.