Richmond Investment Services LLC Takes Position in Broadcom Inc. $AVGO

Richmond Investment Services LLC purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the second quarter, HoldingsChannel.com reports. The firm purchased 2,499 shares of the semiconductor manufacturer’s stock, valued at approximately $689,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of AVGO. Cheviot Value Management LLC acquired a new stake in shares of Broadcom during the first quarter worth about $25,000. Sawyer & Company Inc increased its position in Broadcom by 62.1% in the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 36 shares during the period. Longfellow Investment Management Co. LLC acquired a new stake in Broadcom during the 2nd quarter worth approximately $27,000. Legend Financial Advisors Inc. acquired a new stake in Broadcom during the 2nd quarter worth approximately $28,000. Finally, LGT Financial Advisors LLC purchased a new position in shares of Broadcom in the 2nd quarter valued at approximately $31,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on AVGO. Benchmark boosted their target price on Broadcom from $315.00 to $385.00 and gave the company a “buy” rating in a report on Friday, September 5th. KeyCorp set a $460.00 price objective on shares of Broadcom in a research report on Monday, October 13th. JPMorgan Chase & Co. boosted their price objective on shares of Broadcom from $325.00 to $400.00 and gave the company an “overweight” rating in a research note on Friday, September 5th. Morgan Stanley set a $409.00 price objective on shares of Broadcom and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Finally, The Goldman Sachs Group set a $435.00 target price on shares of Broadcom and gave the stock a “buy” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $377.61.

Insider Activity

In other Broadcom news, insider Charlie B. Kawwas sold 3,893 shares of the company’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total transaction of $1,354,063.26. Following the transaction, the insider directly owned 25,295 shares in the company, valued at approximately $8,798,106.90. This represents a 13.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Justine Page sold 800 shares of the stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $331.14, for a total transaction of $264,912.00. Following the completion of the transaction, the director directly owned 21,382 shares of the company’s stock, valued at approximately $7,080,435.48. This trade represents a 3.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In 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 $225,483,192. Corporate insiders own 2.00% of the company’s stock.

Broadcom Trading Up 1.9%

Shares of AVGO stock opened at $385.03 on Wednesday. The business’s fifty day moving average price is $348.93 and its 200 day moving average price is $303.70. The firm has a market capitalization of $1.82 trillion, a PE ratio of 98.22, a P/E/G ratio of 1.29 and a beta of 1.19. 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 Inc. has a 1-year low of $138.10 and a 1-year high of $388.13.

Broadcom (NASDAQ:AVGO) last released 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 return on equity of 36.60% and a net margin of 31.59%.The company had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.82 billion. During the same quarter last year, the company earned $1.24 earnings per share. Broadcom’s quarterly revenue 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 forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were issued 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 0.6%. Broadcom’s payout ratio is currently 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.