Itau Unibanco Holding S.A. raised its position in shares of Broadcom Inc. (NASDAQ:AVGO – Free Report) by 17.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 92,881 shares of the semiconductor manufacturer’s stock after buying an additional 14,011 shares during the period. Itau Unibanco Holding S.A.’s holdings in Broadcom were worth $15,551,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Monterey Private Wealth Inc. raised its stake in Broadcom by 1.8% in the first quarter. Monterey Private Wealth Inc. now owns 2,780 shares of the semiconductor manufacturer’s stock valued at $465,000 after buying an additional 48 shares during the last quarter. Next Century Growth Investors LLC purchased a new stake in Broadcom in the first quarter valued at about $2,931,000. Oak Associates Ltd. OH raised its stake in Broadcom by 4.0% in the first quarter. Oak Associates Ltd. OH now owns 185,042 shares of the semiconductor manufacturer’s stock valued at $30,982,000 after buying an additional 7,202 shares during the last quarter. Cape ANN Savings Bank raised its stake in Broadcom by 5.8% in the first quarter. Cape ANN Savings Bank now owns 1,791 shares of the semiconductor manufacturer’s stock valued at $300,000 after buying an additional 98 shares during the last quarter. Finally, Cascade Investment Group Inc. raised its stake in Broadcom by 11.2% in the first quarter. Cascade Investment Group Inc. now owns 6,812 shares of the semiconductor manufacturer’s stock valued at $1,141,000 after buying an additional 685 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities research analysts have commented on AVGO shares. Rosenblatt Securities increased their price target on Broadcom from $223.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, June 6th. Erste Group Bank upgraded Broadcom from a “hold” rating to a “buy” rating in a research note on Thursday, June 5th. Arete Research upgraded Broadcom to a “strong-buy” rating in a research note on Monday, July 28th. Truist Financial set a $295.00 price objective on Broadcom and gave the stock a “buy” rating in a research note on Friday, June 6th. Finally, Barclays raised their price objective on Broadcom from $215.00 to $265.00 and gave the stock an “overweight” rating in a research note on Monday, June 9th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $300.96.
Insider Activity
In related news, Director Henry Samueli sold 473,898 shares of the firm’s stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the sale, the director directly owned 38,188,575 shares of the company’s stock, valued at $10,132,574,604.75. This trade represents a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kirsten M. Spears sold 36,350 shares of the firm’s stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $261.27, for a total value of $9,497,164.50. Following the sale, the chief financial officer directly owned 325,587 shares in the company, valued at approximately $85,066,115.49. This trade represents a 10.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 830,516 shares of company stock valued at $217,286,457 over the last 90 days. Company insiders own 2.00% of the company’s stock.
Broadcom Trading Up 0.8%
Shares of NASDAQ:AVGO opened at $300.25 on Thursday. Broadcom Inc. has a 52-week low of $134.90 and a 52-week high of $317.35. The stock has a market cap of $1.41 trillion, a price-to-earnings ratio of 112.45, a PEG ratio of 2.12 and a beta of 1.15. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. The business has a 50-day moving average price of $285.64 and a 200-day moving average price of $233.74.
Broadcom (NASDAQ:AVGO – Get Free Report) last posted its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, topping the consensus estimate of $1.57 by $0.01. The firm had revenue of $15 billion for the quarter, compared to analyst estimates of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%.Broadcom’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period last year, the company earned $10.96 earnings per share. Broadcom has set its Q3 2025 guidance at EPS. Equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.
Broadcom Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom’s dividend payout ratio (DPR) is 88.39%.
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.
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