Successful Portfolios LLC Takes Position in Broadcom Inc. $AVGO

Successful Portfolios LLC acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 855 shares of the semiconductor manufacturer’s stock, valued at approximately $236,000.

A number of other hedge funds have also recently modified their holdings of the business. WT Asset Management Ltd bought a new stake in shares of Broadcom during the 2nd quarter valued at $149,485,000. Single Point Partners LLC bought a new stake in shares of Broadcom during the 2nd quarter valued at $225,000. Precedent Wealth Partners LLC grew its position in shares of Broadcom by 9.2% during the 2nd quarter. Precedent Wealth Partners LLC now owns 19,716 shares of the semiconductor manufacturer’s stock valued at $5,435,000 after acquiring an additional 1,653 shares during the period. Fairvoy Private Wealth LLC grew its position in shares of Broadcom by 1.8% during the 2nd quarter. Fairvoy Private Wealth LLC now owns 26,857 shares of the semiconductor manufacturer’s stock valued at $7,403,000 after acquiring an additional 467 shares during the period. Finally, Curran Financial Partners LLC bought a new stake in shares of Broadcom during the 2nd quarter valued at $1,429,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Up 2.7%

Shares of AVGO stock opened at $345.50 on Thursday. The stock has a market cap of $1.63 trillion, a P/E ratio of 88.14, a PEG ratio of 1.86 and a beta of 1.20. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $374.23. 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 company’s fifty day simple moving average is $320.89 and its two-hundred day simple moving average is $260.37.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.03. The firm had revenue of $15.95 billion for the quarter, compared to analysts’ expectations of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The business’s revenue was up 22.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. Analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on AVGO. JPMorgan Chase & Co. boosted their price objective on shares of Broadcom from $325.00 to $400.00 and gave the company an “overweight” rating in a research report on Friday, September 5th. Citigroup upped their target price on shares of Broadcom from $315.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, September 5th. TD Cowen upped their target price on shares of Broadcom from $355.00 to $370.00 and gave the stock a “buy” rating in a report on Friday, September 5th. UBS Group upped their target price on shares of Broadcom from $290.00 to $345.00 and gave the stock a “buy” rating in a report on Monday, August 25th. Finally, Morgan Stanley upped their target price on shares of Broadcom from $338.00 to $357.00 and gave the stock an “overweight” rating in a report on Tuesday, September 2nd. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Broadcom currently has a consensus rating of “Buy” and an average price target of $357.22.

Insider Activity

In other news, CFO Kirsten M. Spears sold 7,498 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer directly owned 313,330 shares in the company, valued at approximately $108,932,307.80. This represents a 2.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 sale, the insider owned 329,302 shares in the company, valued at $114,468,668.22. This represents a 4.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders bought 3,550 shares of company stock worth $1,227,869 and sold 666,071 shares worth $225,623,008. 2.00% of the stock is owned by corporate insiders.

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.