Legacy Financial Group Inc. Acquires New Shares in Broadcom Inc. $AVGO

Legacy Financial Group Inc. bought a new position in Broadcom Inc. (NASDAQ:AVGO) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,092 shares of the semiconductor manufacturer’s stock, valued at approximately $301,000.

A number of other hedge funds also recently added to or reduced their stakes in AVGO. Providence Wealth Advisors LLC boosted its holdings in shares of Broadcom by 0.6% during the second quarter. Providence Wealth Advisors LLC now owns 22,202 shares of the semiconductor manufacturer’s stock valued at $6,768,000 after acquiring an additional 127 shares during the period. Titleist Asset Management LLC lifted its position in Broadcom by 4.1% in the 2nd quarter. Titleist Asset Management LLC now owns 33,248 shares of the semiconductor manufacturer’s stock valued at $9,165,000 after purchasing an additional 1,298 shares during the last quarter. Barings LLC lifted its position in Broadcom by 3.9% in the 2nd quarter. Barings LLC now owns 2,805 shares of the semiconductor manufacturer’s stock valued at $773,000 after purchasing an additional 105 shares during the last quarter. Quantum Private Wealth LLC boosted its stake in Broadcom by 3.0% during the 2nd quarter. Quantum Private Wealth LLC now owns 43,384 shares of the semiconductor manufacturer’s stock valued at $11,959,000 after purchasing an additional 1,282 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Broadcom by 1.8% during the second quarter. Charles Schwab Investment Management Inc. now owns 34,474,085 shares of the semiconductor manufacturer’s stock valued at $9,501,590,000 after buying an additional 621,775 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Price Performance

NASDAQ:AVGO opened at $340.20 on Monday. 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 business’s 50-day moving average price is $348.15 and its 200 day moving average price is $301.26. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $386.48. The firm has a market cap of $1.61 trillion, a P/E ratio of 86.79, a PEG ratio of 1.16 and a beta of 1.19.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.03. The company had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The business’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. As a group, sell-side analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

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

Wall Street Analysts Forecast Growth

AVGO has been the topic of several analyst reports. Mizuho set a $435.00 target price on Broadcom and gave the company an “outperform” rating in a research report on Tuesday, October 21st. KeyCorp set a $460.00 price target on Broadcom in a report on Monday, October 13th. Rosenblatt Securities lifted their price objective on shares of Broadcom from $340.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, September 5th. TD Cowen increased their target price on shares of Broadcom from $355.00 to $370.00 and gave the company a “buy” rating in a research report on Friday, September 5th. Finally, Wells Fargo & Company raised their target price on shares of Broadcom from $255.00 to $345.00 and gave the company an “equal weight” rating in a research note on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $374.21.

Insider Buying and Selling

In other news, Director Henry Samueli sold 368,797 shares of the stock in a transaction on Wednesday, September 24th. The stock was 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 in the company, valued at approximately $12,746,821,463.94. This represents a 0.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 16,558 shares of the firm’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total value of $5,755,726.38. Following the sale, the insider directly owned 329,302 shares of the company’s stock, valued at approximately $114,468,668.22. This represents a 4.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have purchased 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 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.