Hodges Capital Management Inc. Boosts Stock Position in Broadcom Inc. $AVGO

Hodges Capital Management Inc. increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 22.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,256 shares of the semiconductor manufacturer’s stock after purchasing an additional 4,209 shares during the quarter. Hodges Capital Management Inc.’s holdings in Broadcom were worth $6,411,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of AVGO. Vanguard Group Inc. raised its holdings in shares of Broadcom by 0.4% during the first quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer’s stock worth $79,900,968,000 after purchasing an additional 2,085,534 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Broadcom by 37.8% during 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 last quarter. Nuveen LLC acquired a new position in shares of Broadcom in the 1st quarter valued at about $6,649,117,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Broadcom by 2.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 35,243,467 shares of the semiconductor manufacturer’s stock worth $5,900,814,000 after buying an additional 842,088 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Broadcom by 3.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 33,852,310 shares of the semiconductor manufacturer’s stock worth $5,668,134,000 after acquiring an additional 1,043,948 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Performance

Shares of NASDAQ:AVGO opened at $339.98 on Friday. 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 $386.48. The firm has a market capitalization of $1.61 trillion, a PE ratio of 86.73, a P/E/G ratio of 1.43 and a beta of 1.19. The business’s 50 day moving average price is $348.93 and its 200-day moving average price is $293.71.

Broadcom (NASDAQ:AVGO) last issued its earnings results 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 net margin of 31.59% and a return on equity of 36.60%. The business had revenue of $15.95 billion during the quarter, compared to analysts’ expectations of $15.82 billion. During the same period in the prior year, the business earned $1.24 earnings per share. The company’s quarterly revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. As a group, equities research analysts expect 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. Shareholders of record on Monday, September 22nd were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Broadcom’s payout ratio is 60.20%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Truist Financial raised their price objective on shares of Broadcom from $295.00 to $365.00 and gave the stock a “buy” rating in a research note on Friday, September 5th. Argus raised their price target on shares of Broadcom from $285.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, September 8th. JPMorgan Chase & Co. upped their price objective on shares of Broadcom from $325.00 to $400.00 and gave the stock an “overweight” rating in a research report on Friday, September 5th. Sanford C. Bernstein raised their target price on Broadcom from $295.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday, September 5th. Finally, Mizuho set a $435.00 price target on Broadcom and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $372.52.

Insider Buying and Selling

In other news, insider Charlie B. Kawwas sold 3,893 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total value of $1,354,063.26. Following the completion of the sale, the insider owned 25,295 shares of the company’s stock, valued at $8,798,106.90. This represents a 13.34% decrease in their position. 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 the firm’s stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $337.91, for a total transaction of $124,620,194.27. Following the sale, the director owned 37,722,534 shares of the company’s stock, valued at $12,746,821,463.94. This represents a 0.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders bought 3,550 shares of company stock worth $1,227,869 and sold 664,471 shares worth $225,218,280. 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.