Oppenheimer Asset Management Inc. Boosts Stock Position in Broadcom Inc. $AVGO

Oppenheimer Asset Management Inc. lifted its position in Broadcom Inc. (NASDAQ:AVGO) by 4.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 251,624 shares of the semiconductor manufacturer’s stock after buying an additional 10,473 shares during the quarter. Broadcom makes up 0.8% of Oppenheimer Asset Management Inc.’s investment portfolio, making the stock its 19th largest holding. Oppenheimer Asset Management Inc.’s holdings in Broadcom were worth $69,360,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of AVGO. Nuveen LLC purchased a new stake in shares of Broadcom in the 1st quarter valued at $6,649,117,000. Price T Rowe Associates Inc. MD raised its holdings in shares of 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. raised its holdings in shares of Broadcom by 16.7% in the 1st 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 period. Deutsche Bank AG raised its holdings in shares of Broadcom by 36.9% in the 1st quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer’s stock valued at $2,638,512,000 after buying an additional 4,245,345 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in shares of Broadcom by 16.0% in the 1st quarter. Alliancebernstein L.P. now owns 29,513,814 shares of the semiconductor manufacturer’s stock valued at $4,941,498,000 after buying an additional 4,077,910 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Oppenheimer reiterated an “outperform” rating and issued a $360.00 price objective (up previously from $325.00) on shares of Broadcom in a report on Friday, September 5th. Argus upped their price target on Broadcom from $285.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, September 8th. Truist Financial lifted their price objective on Broadcom from $295.00 to $365.00 and gave the company a “buy” rating in a research note on Friday, September 5th. Citigroup reiterated a “buy” rating and issued a $415.00 price objective (up previously from $350.00) on shares of Broadcom in a research note on Tuesday, October 14th. Finally, Mizuho set a $435.00 price objective on Broadcom and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Three investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $372.52.

Insider Activity at Broadcom

In other Broadcom news, CFO Kirsten M. Spears sold 7,498 shares of Broadcom stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the transaction, the chief financial officer owned 313,330 shares of the company’s stock, 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 filing with the SEC, which is available at this hyperlink. Also, Director Henry Samueli sold 368,797 shares of Broadcom stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $337.91, for a total value of $124,620,194.27. Following the transaction, the director directly owned 37,722,534 shares in the company, valued at approximately $12,746,821,463.94. This trade represents a 0.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have acquired 3,550 shares of company stock valued at $1,227,869 and have sold 665,271 shares valued at $225,464,248. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Trading Down 1.8%

AVGO opened at $369.63 on Friday. Broadcom Inc. has a one year low of $138.10 and a one year high of $386.48. The company has a market cap of $1.75 trillion, a P/E ratio of 94.29, a PEG ratio of 2.12 and a beta of 1.20. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. The business’s 50-day simple moving average is $339.31 and its 200-day simple moving average is $282.63.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 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 business had revenue of $15.95 billion for the quarter, compared to the consensus estimate of $15.82 billion. During the same quarter in the prior year, the business posted $1.24 EPS. The business’s revenue for the quarter was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. As a group, equities research analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $2.36 annualized dividend and a yield of 0.6%. Broadcom’s payout ratio is 60.20%.

Broadcom Company 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.