Essex Financial Services Inc. Raises Holdings in Broadcom Inc. $AVGO

Essex Financial Services Inc. boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,268 shares of the semiconductor manufacturer’s stock after buying an additional 1,220 shares during the quarter. Essex Financial Services Inc.’s holdings in Broadcom were worth $5,587,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Perigon Wealth Management LLC increased its holdings in Broadcom by 0.9% during the second quarter. Perigon Wealth Management LLC now owns 153,695 shares of the semiconductor manufacturer’s stock valued at $42,366,000 after buying an additional 1,437 shares during the period. Pacific Sage Partners LLC purchased a new position in Broadcom during the second quarter valued at approximately $272,000. Magnus Financial Group LLC boosted its stake in Broadcom by 7.2% in the second quarter. Magnus Financial Group LLC now owns 18,263 shares of the semiconductor manufacturer’s stock valued at $5,034,000 after acquiring an additional 1,219 shares in the last quarter. Kennedy Investment Group boosted its stake in Broadcom by 0.6% in the second quarter. Kennedy Investment Group now owns 54,160 shares of the semiconductor manufacturer’s stock valued at $14,929,000 after acquiring an additional 336 shares in the last quarter. Finally, TigerOak Management L.L.C. boosted its stake in Broadcom by 9.1% in the second quarter. TigerOak Management L.L.C. now owns 3,962 shares of the semiconductor manufacturer’s stock valued at $1,092,000 after acquiring an additional 329 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Trading Down 0.5%

NASDAQ:AVGO opened at $334.53 on Friday. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $374.23. The firm has a fifty day simple moving average of $313.66 and a 200-day simple moving average of $252.89. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $1.58 trillion, a P/E ratio of 85.34, a PEG ratio of 1.85 and a beta of 1.16.

Broadcom (NASDAQ:AVGO) last posted its 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. The company had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The firm’s quarterly revenue was up 22.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. On average, equities research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

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

Insider Activity at Broadcom

In related news, CFO Kirsten M. Spears sold 7,498 shares of the business’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 transaction, the chief financial officer directly 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. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 3,893 shares of Broadcom stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total transaction of $1,354,063.26. Following the completion of the transaction, the insider directly owned 25,295 shares of the company’s stock, valued at $8,798,106.90. The trade was a 13.34% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 3,550 shares of company stock valued at $1,227,869 and sold 666,071 shares valued at $225,623,008. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the subject of several recent analyst reports. Piper Sandler raised their target price 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. Deutsche Bank Aktiengesellschaft raised their target price on shares of Broadcom from $300.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, September 5th. Sanford C. Bernstein raised their target price on shares of Broadcom from $295.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday, September 5th. UBS Group raised their target price on shares of Broadcom from $290.00 to $345.00 and gave the company a “buy” rating in a research note on Monday, August 25th. Finally, Macquarie initiated coverage on shares of Broadcom in a research note on Monday, September 15th. They issued an “outperform” rating and a $420.00 target price for the company. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $356.48.

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.