Geode Capital Management LLC Buys 2,226,585 Shares of Broadcom Inc. $AVGO

Geode Capital Management LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 2.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,610,718 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,226,585 shares during the period. Broadcom makes up about 2.1% of Geode Capital Management LLC’s portfolio, making the stock its 6th biggest holding. Geode Capital Management LLC owned approximately 2.31% of Broadcom worth $29,827,649,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Broadcom by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer’s stock valued at $79,900,968,000 after buying an additional 2,085,534 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Broadcom by 37.8% during the 1st 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 in the last quarter. Nuveen LLC bought a new position in Broadcom in the first quarter valued at approximately $6,649,117,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Broadcom by 2.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 35,243,467 shares of the semiconductor manufacturer’s stock valued at $5,900,814,000 after purchasing an additional 842,088 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Broadcom by 3.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 33,852,310 shares of the semiconductor manufacturer’s stock worth $5,668,134,000 after purchasing an additional 1,043,948 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AVGO. Truist Financial raised their price objective on Broadcom from $295.00 to $365.00 and gave the company a “buy” rating in a research note 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 note on Tuesday, October 14th. TD Cowen lifted their price target on shares of Broadcom from $355.00 to $370.00 and gave the stock a “buy” rating in a report on Friday, September 5th. Rosenblatt Securities boosted their price objective on shares of Broadcom from $340.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, September 5th. Finally, Deutsche Bank Aktiengesellschaft set a $400.00 target price on Broadcom and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $372.52.

Broadcom Stock Performance

AVGO stock opened at $342.46 on Friday. The firm has a market cap of $1.62 trillion, a PE ratio of 87.36, a price-to-earnings-growth ratio of 1.38 and a beta of 1.19. 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 50-day moving average price of $349.09 and a 200-day moving average price of $295.48. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $386.48.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, beating the consensus estimate of $1.66 by $0.03. The company had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The firm’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. As a group, equities research analysts expect 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 $0.59 dividend. The ex-dividend date was Monday, September 22nd. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Broadcom’s payout ratio is currently 60.20%.

Insider Activity at Broadcom

In related news, 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 of the company’s stock, valued at $278,088,746.66. This represents a 15.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Henry Samueli sold 368,797 shares of Broadcom 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 completion of the sale, the director directly owned 37,722,534 shares of the company’s stock, valued at approximately $12,746,821,463.94. This trade represents a 0.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have acquired 3,550 shares of company stock worth $1,227,869 and have sold 664,471 shares worth $225,218,280. 2.00% of the stock is currently 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.