Prescott Group Capital Management L.L.C. Grows Stock Position in Broadcom Inc. $AVGO

Prescott Group Capital Management L.L.C. boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 47.4% during the second quarter, HoldingsChannel reports. The fund owned 2,287 shares of the semiconductor manufacturer’s stock after buying an additional 735 shares during the period. Prescott Group Capital Management L.L.C.’s holdings in Broadcom were worth $630,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Nuveen LLC purchased a new position in shares of Broadcom during the 1st quarter worth $6,649,117,000. 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. Goldman Sachs Group Inc. lifted its position in Broadcom by 16.7% in the first quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer’s stock valued at $5,333,384,000 after buying an additional 4,550,647 shares during the last quarter. Deutsche Bank AG boosted its stake in Broadcom by 36.9% during the first quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer’s stock worth $2,638,512,000 after buying an additional 4,245,345 shares during the period. Finally, Alliancebernstein L.P. increased its position in shares of Broadcom by 16.0% during the first quarter. Alliancebernstein L.P. now owns 29,513,814 shares of the semiconductor manufacturer’s stock valued at $4,941,498,000 after acquiring an additional 4,077,910 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 148,154 shares of the stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $336.67, for a total value of $49,879,007.18. Following the sale, the chief executive officer directly owned 825,998 shares of the company’s stock, valued at approximately $278,088,746.66. This represents a 15.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Kirsten M. Spears sold 7,498 shares of the firm’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the completion of the sale, the chief financial officer owned 313,330 shares in the company, valued at $108,932,307.80. The trade was a 2.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have acquired 3,550 shares of company stock worth $1,227,869 and have sold 664,471 shares worth $225,218,280. Insiders own 2.00% of the company’s stock.

Broadcom Trading Up 0.9%

AVGO opened at $355.22 on Thursday. The business has a fifty day moving average price of $348.26 and a 200 day moving average price of $293.39. 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 12 month low of $138.10 and a 12 month high of $386.48. The stock has a market capitalization of $1.68 trillion, a price-to-earnings ratio of 90.62, a PEG ratio of 1.42 and a beta of 1.19.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (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 for the quarter, compared to analyst estimates of $15.82 billion. During the same quarter last year, the company earned $1.24 EPS. Broadcom’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. Sell-side analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

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

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Evercore ISI upped their price objective on shares of Broadcom from $342.00 to $403.00 and gave the stock an “outperform” rating in a report on Wednesday, October 15th. Mizuho set a $435.00 price target on Broadcom and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. TD Cowen boosted their price objective on Broadcom from $355.00 to $370.00 and gave the company a “buy” rating in a report on Friday, September 5th. Morgan Stanley set a $409.00 target price on Broadcom and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. Finally, Citigroup restated a “buy” rating and set a $415.00 target price (up from $350.00) on shares of Broadcom in a report on Tuesday, October 14th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target 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.