Broadcom Inc. $AVGO Shares Acquired by Tortoise Investment Management LLC

Tortoise Investment Management LLC lifted its stake in Broadcom Inc. (NASDAQ:AVGO) by 14.2% in the 2nd quarter, Holdings Channel reports. The firm owned 1,565 shares of the semiconductor manufacturer’s stock after purchasing an additional 194 shares during the quarter. Tortoise Investment Management LLC’s holdings in Broadcom were worth $432,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in AVGO. Sawyer & Company Inc grew its holdings in shares of Broadcom by 62.1% in 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. Legend Financial Advisors Inc. purchased a new stake in Broadcom during the second quarter worth $28,000. LGT Financial Advisors LLC acquired a new stake in Broadcom in the second quarter valued at $31,000. New England Capital Financial Advisors LLC purchased a new position in shares of Broadcom in the second quarter valued at $31,000. Finally, Maseco LLP purchased a new position in shares of Broadcom in the second quarter valued at $34,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on AVGO shares. Piper Sandler increased their price objective on shares of Broadcom from $315.00 to $375.00 and gave the company an “overweight” 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 report on Tuesday, October 14th. Deutsche Bank Aktiengesellschaft set a $400.00 price objective on shares of Broadcom and gave the stock a “buy” rating in a research note on Tuesday, October 14th. Citigroup reaffirmed a “buy” rating and issued a $415.00 target price (up previously from $350.00) on shares of Broadcom in a research note on Tuesday, October 14th. Finally, Barclays set a $450.00 target price on Broadcom and gave the company an “overweight” rating in a report on Tuesday, October 14th. Three research 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 company currently has an average rating of “Buy” and a consensus target price of $372.52.

Insider Transactions at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 3,893 shares of Broadcom stock in a transaction dated 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 completion of the sale, the insider owned 25,295 shares in the company, 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 Securities & Exchange Commission, which is available through this link. Also, insider Mark David Brazeal sold 16,558 shares of the company’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the transaction, 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 position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders acquired 3,550 shares of company stock worth $1,227,869 and sold 665,271 shares worth $225,483,192. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Down 0.6%

Shares of NASDAQ AVGO opened at $340.50 on Wednesday. The firm has a market cap of $1.61 trillion, a P/E ratio of 86.86, a price-to-earnings-growth ratio of 1.37 and a beta of 1.19. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $386.48. The firm’s 50 day moving average price is $349.10 and its 200 day moving average price is $298.19.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $15.82 billion. During the same quarter in the prior year, the company posted $1.24 EPS. The business’s revenue for the quarter 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 anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were given a dividend of $0.59 per share. The ex-dividend date 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 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.