Broadcom Inc. $AVGO Shares Acquired by Washington Trust Bank

Washington Trust Bank increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 11.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 136,119 shares of the semiconductor manufacturer’s stock after buying an additional 14,522 shares during the quarter. Broadcom comprises approximately 3.2% of Washington Trust Bank’s portfolio, making the stock its 8th largest position. Washington Trust Bank’s holdings in Broadcom were worth $37,521,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in AVGO. Vanguard Group Inc. grew its holdings in shares of Broadcom by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer’s stock worth $79,900,968,000 after purchasing an additional 2,085,534 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Broadcom by 37.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer’s stock valued at $10,968,270,000 after buying an additional 17,985,046 shares during the period. Nuveen LLC acquired a new position in Broadcom in the first quarter valued at about $6,649,117,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Broadcom by 2.4% in 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 buying an additional 842,088 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted 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 buying an additional 1,043,948 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Charlie B. Kawwas sold 3,893 shares of the firm’s stock in a transaction on Wednesday, September 17th. The shares were 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 approximately $8,798,106.90. This trade represents a 13.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Justine Page sold 800 shares of the business’s stock in a transaction on Tuesday, October 14th. The stock was sold at an average price of $350.15, for a total transaction of $280,120.00. Following the transaction, the director owned 22,182 shares of the company’s stock, valued at approximately $7,767,027.30. The trade was a 3.48% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders bought 3,550 shares of company stock worth $1,227,869 and sold 665,271 shares worth $225,464,248. 2.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AVGO. Barclays set a $450.00 price target on shares of Broadcom and gave the company an “overweight” rating in a research note on Tuesday, October 14th. UBS Group set a $415.00 target price on shares of Broadcom and gave the company a “buy” rating in a report on Tuesday, October 14th. Morgan Stanley set a $409.00 target price on Broadcom and gave the company an “overweight” rating in a research report on Tuesday, October 14th. Mizuho set a $435.00 price target on Broadcom and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. Finally, Weiss Ratings lowered Broadcom from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday. 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $372.52.

Broadcom Price Performance

Broadcom stock opened at $349.43 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. 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 $1.65 trillion, a PE ratio of 89.14, a price-to-earnings-growth ratio of 1.41 and a beta of 1.19. The company’s 50 day moving average is $344.91 and its two-hundred day moving average is $290.63.

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, topping analysts’ consensus estimates of $1.66 by $0.03. The business 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 company’s revenue was up 22.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. On average, research analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently disclosed 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 of this dividend was Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom’s dividend payout ratio is currently 60.20%.

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.