Broadcom Inc. $AVGO Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 4.3% in the second quarter, Holdings Channel reports. The fund owned 251,624 shares of the semiconductor manufacturer’s stock after purchasing an additional 10,473 shares during the period. Broadcom accounts for about 0.8% of Oppenheimer Asset Management Inc.’s portfolio, making the stock its 19th biggest position. Oppenheimer Asset Management Inc.’s holdings in Broadcom were worth $69,360,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Sawyer & Company Inc lifted its position in Broadcom by 62.1% during the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 36 shares during the period. PFS Partners LLC lifted its position in Broadcom by 38.4% during the 2nd quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer’s stock worth $38,000 after acquiring an additional 38 shares during the period. Costello Asset Management INC lifted its position in Broadcom by 1.5% during the 2nd quarter. Costello Asset Management INC now owns 2,528 shares of the semiconductor manufacturer’s stock worth $697,000 after acquiring an additional 38 shares during the period. Waddell & Associates LLC lifted its position in Broadcom by 2.1% during the 1st quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer’s stock worth $350,000 after acquiring an additional 43 shares during the period. Finally, Luts & Greenleigh Group Inc. lifted its position in Broadcom by 1.3% during the 2nd quarter. Luts & Greenleigh Group Inc. now owns 3,405 shares of the semiconductor manufacturer’s stock worth $939,000 after acquiring an additional 44 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Down 1.8%

AVGO opened at $369.63 on Friday. The business’s fifty day moving average is $339.31 and its two-hundred day moving average is $282.63. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. The company has a market cap of $1.75 trillion, a price-to-earnings ratio of 94.29, a PEG ratio of 2.12 and a beta of 1.20. Broadcom Inc. has a one year low of $138.10 and a one year high of $386.48.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.03. The company had revenue of $15.95 billion for the quarter, compared to the consensus estimate of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.Broadcom’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. Analysts anticipate 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. Stockholders of record on Monday, September 22nd were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Monday, September 22nd. Broadcom’s dividend payout ratio is currently 60.20%.

Insiders Place Their Bets

In other news, insider Charlie B. Kawwas sold 3,893 shares of the company’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total value of $1,354,063.26. Following the sale, the insider directly owned 25,295 shares in the company, valued at $8,798,106.90. This represents a 13.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Henry Samueli sold 368,797 shares of the company’s stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $337.91, for a total value of $124,620,194.27. Following the completion of the sale, the director owned 37,722,534 shares in the company, valued at $12,746,821,463.94. This 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 three months, insiders bought 3,550 shares of company stock valued at $1,227,869 and sold 665,271 shares valued at $225,464,248. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AVGO. Arete Research raised Broadcom to a “strong-buy” rating in a research report on Monday, July 28th. Wells Fargo & Company raised their price target on Broadcom from $255.00 to $345.00 and gave the company an “equal weight” rating in a report on Friday, September 5th. Argus upped their price objective on Broadcom from $285.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, September 8th. Sanford C. Bernstein upped their price objective on Broadcom from $295.00 to $400.00 and gave the stock an “outperform” rating in a report on Friday, September 5th. Finally, Mizuho set a $435.00 price objective on Broadcom and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Three equities research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $372.52.

Broadcom 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.