Richmond Investment Services LLC Buys Shares of 2,499 Broadcom Inc. $AVGO

Richmond Investment Services LLC purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,499 shares of the semiconductor manufacturer’s stock, valued at approximately $689,000.

Other hedge funds have also made changes to their positions in the company. Nuveen LLC acquired a new stake in Broadcom during the 1st quarter worth approximately $6,649,117,000. Price T Rowe Associates Inc. MD grew its stake in shares of Broadcom by 37.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer’s stock worth $10,968,270,000 after acquiring an additional 17,985,046 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Broadcom by 1.3% during the second quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer’s stock worth $133,261,046,000 after acquiring an additional 6,222,802 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Broadcom by 16.7% in the first quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer’s stock valued at $5,333,384,000 after acquiring an additional 4,550,647 shares in the last quarter. Finally, Deutsche Bank AG raised its stake in shares of Broadcom by 36.9% in the first quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer’s stock valued at $2,638,512,000 after acquiring an additional 4,245,345 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insiders Place Their Bets

In related news, Director Henry Samueli sold 368,797 shares of the business’s stock in a transaction on Wednesday, September 24th. The shares were 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 directly owned 37,722,534 shares of the company’s stock, valued at $12,746,821,463.94. The trade was a 0.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction of $5,755,726.38. Following the completion of 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 disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have acquired 3,550 shares of company stock worth $1,227,869 and have sold 665,271 shares worth $225,483,192. Corporate insiders own 2.00% of the company’s stock.

Broadcom Trading Up 1.9%

AVGO opened at $385.03 on Wednesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. Broadcom Inc. has a one year low of $138.10 and a one year high of $388.13. The company has a market cap of $1.82 trillion, a P/E ratio of 98.22, a PEG ratio of 1.29 and a beta of 1.19. The business’s 50-day simple moving average is $348.93 and its 200-day simple moving average is $303.70.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.03. The firm 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.24 earnings per share. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were issued a $0.59 dividend. The ex-dividend date was Monday, September 22nd. This represents a $2.36 annualized dividend and a dividend yield of 0.6%. Broadcom’s dividend payout ratio is presently 60.20%.

Analyst Ratings Changes

Several research analysts recently commented on AVGO shares. Morgan Stanley set a $409.00 target price on Broadcom and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. Macquarie assumed coverage on Broadcom in a research note on Monday, September 15th. They issued an “outperform” rating and a $420.00 price objective for the company. Deutsche Bank Aktiengesellschaft set a $400.00 price objective on Broadcom and gave the stock a “buy” rating in a research report on Tuesday, October 14th. The Goldman Sachs Group set a $435.00 target price on shares of Broadcom and gave the stock a “buy” rating in a research note on Tuesday. Finally, UBS Group set a $415.00 price target on shares of Broadcom and gave the stock a “buy” rating in a research note on Tuesday, October 14th. Three investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $377.61.

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.