Broadcom Inc. $AVGO Stake Lifted by Harvest Portfolios Group Inc.

Harvest Portfolios Group Inc. grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 30.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 362,814 shares of the semiconductor manufacturer’s stock after purchasing an additional 85,234 shares during the period. Broadcom makes up about 2.3% of Harvest Portfolios Group Inc.’s holdings, making the stock its 8th biggest position. Harvest Portfolios Group Inc.’s holdings in Broadcom were worth $100,010,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Cheviot Value Management LLC bought a new stake in Broadcom during the first quarter valued at $25,000. Sawyer & Company Inc raised its holdings in shares of Broadcom by 62.1% in the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 36 shares in the last quarter. Legend Financial Advisors Inc. bought a new stake in shares of Broadcom during the 2nd quarter valued at about $28,000. LGT Financial Advisors LLC purchased a new position in shares of Broadcom during the second quarter worth about $31,000. Finally, Greenline Partners LLC purchased a new stake in Broadcom in the first quarter valued at approximately $33,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

AVGO stock opened at $351.96 on Wednesday. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $386.48. 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 firm has a market capitalization of $1.66 trillion, a price-to-earnings ratio of 89.79, a PEG ratio of 1.45 and a beta of 1.19. The firm has a 50 day moving average price of $347.20 and a 200-day moving average price of $292.95.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping 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 firm had revenue of $15.95 billion for the quarter, compared to analysts’ expectations of $15.82 billion. During the same period in the prior year, the firm posted $1.24 earnings per share. The company’s quarterly revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. Equities research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AVGO. The Goldman Sachs Group reissued a “buy” rating and issued a $340.00 price target on shares of Broadcom in a report on Wednesday, August 13th. JPMorgan Chase & Co. raised their price target on Broadcom from $325.00 to $400.00 and gave the company an “overweight” rating in a research report on Friday, September 5th. Evercore ISI lifted their price target on Broadcom from $342.00 to $403.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 15th. Wells Fargo & Company increased their price objective on Broadcom from $255.00 to $345.00 and gave the company an “equal weight” rating in a research report on Friday, September 5th. Finally, Weiss Ratings downgraded Broadcom from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Broadcom has a consensus rating of “Buy” and a consensus target price of $372.52.

Insider Transactions at Broadcom

In other Broadcom news, Director Henry Samueli sold 368,797 shares of Broadcom stock in a transaction 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 completion of the sale, the director owned 37,722,534 shares of the company’s stock, valued at approximately $12,746,821,463.94. This trade represents a 0.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark David Brazeal sold 16,558 shares of the company’s 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 directly owned 329,302 shares in the company, valued at approximately $114,468,668.22. The trade was a 4.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have purchased 3,550 shares of company stock valued at $1,227,869 and have sold 665,271 shares valued at $225,464,248. Corporate insiders own 2.00% of the company’s stock.

About Broadcom

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.