Envestnet Portfolio Solutions Inc. Acquires 23,382 Shares of Broadcom Inc. $AVGO

Envestnet Portfolio Solutions Inc. boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 10.7% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 240,924 shares of the semiconductor manufacturer’s stock after purchasing an additional 23,382 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Broadcom were worth $66,411,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in AVGO. Oregon Public Employees Retirement Fund raised its position in Broadcom by 1.0% in the second quarter. Oregon Public Employees Retirement Fund now owns 406,447 shares of the semiconductor manufacturer’s stock worth $112,037,000 after acquiring an additional 4,100 shares during the period. Concord Asset Management LLC VA raised its holdings in shares of Broadcom by 5.0% in the 2nd quarter. Concord Asset Management LLC VA now owns 31,261 shares of the semiconductor manufacturer’s stock worth $8,617,000 after purchasing an additional 1,476 shares during the period. Total Clarity Wealth Management Inc. lifted its stake in Broadcom by 35.9% in the second quarter. Total Clarity Wealth Management Inc. now owns 2,406 shares of the semiconductor manufacturer’s stock valued at $663,000 after purchasing an additional 635 shares during the last quarter. Vest Financial LLC grew its holdings in Broadcom by 24.2% during the second quarter. Vest Financial LLC now owns 91,690 shares of the semiconductor manufacturer’s stock valued at $25,274,000 after purchasing an additional 17,880 shares during the period. Finally, M.E. Allison & CO. Inc. increased its position in Broadcom by 8.0% in the second quarter. M.E. Allison & CO. Inc. now owns 9,521 shares of the semiconductor manufacturer’s stock worth $2,625,000 after buying an additional 708 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 16,558 shares of the stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total value of $5,755,726.38. Following the transaction, the insider owned 329,302 shares of the company’s stock, valued at $114,468,668.22. This represents a 4.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Hock E. Tan sold 100,000 shares of the firm’s stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $339.58, for a total transaction of $33,958,000.00. Following the sale, the chief executive officer owned 725,638 shares in the company, valued at approximately $246,412,152.04. This trade represents a 12.11% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders bought 3,550 shares of company stock valued at $1,227,869 and sold 665,271 shares valued at $225,464,248. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

NASDAQ AVGO opened at $349.33 on Monday. The company’s 50 day simple moving average is $327.73 and its two-hundred day simple moving average is $270.05. The stock has a market capitalization of $1.65 trillion, a PE ratio of 89.11, a P/E/G ratio of 1.97 and a beta of 1.20. 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 1 year low of $138.10 and a 1 year high of $374.23.

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

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were given a $0.59 dividend. 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 60.20%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Oppenheimer reaffirmed an “outperform” rating and set a $360.00 price target (up previously from $325.00) on shares of Broadcom in a research report on Friday, September 5th. Sanford C. Bernstein upped their price objective on shares of Broadcom from $295.00 to $400.00 and gave the company an “outperform” rating in a report on Friday, September 5th. Weiss Ratings downgraded shares of Broadcom from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. 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. Finally, Deutsche Bank Aktiengesellschaft set a $400.00 price objective on shares of Broadcom and gave the stock a “buy” rating in a report on Tuesday, October 14th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $372.33.

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.