Atlantic Union Bankshares Corp Acquires 35,160 Shares of Broadcom Inc. $AVGO

Atlantic Union Bankshares Corp lifted its stake in Broadcom Inc. (NASDAQ:AVGO) by 22.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 192,864 shares of the semiconductor manufacturer’s stock after buying an additional 35,160 shares during the period. Broadcom comprises approximately 1.2% of Atlantic Union Bankshares Corp’s portfolio, making the stock its 15th biggest holding. Atlantic Union Bankshares Corp’s holdings in Broadcom were worth $53,162,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Nuveen LLC acquired a new position in shares of Broadcom during the first quarter valued at about $6,649,117,000. Price T Rowe Associates Inc. MD increased its stake in Broadcom by 37.8% during the first 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 acquiring an additional 17,985,046 shares during the period. Goldman Sachs Group Inc. raised its holdings in 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 acquiring an additional 4,550,647 shares in the last quarter. Deutsche Bank AG lifted its position 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 worth $2,638,512,000 after acquiring an additional 4,245,345 shares during the period. Finally, Alliancebernstein L.P. lifted its position 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 worth $4,941,498,000 after acquiring an additional 4,077,910 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Performance

NASDAQ:AVGO opened at $349.43 on Monday. The stock has a market capitalization of $1.65 trillion, a P/E ratio of 89.14, a price-to-earnings-growth ratio of 1.41 and a beta of 1.19. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $386.48. The firm has a 50 day moving average of $344.91 and a 200-day moving average of $290.63.

Broadcom (NASDAQ:AVGO) last released its quarterly 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 business had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. During the same period in the prior year, the company earned $1.24 EPS. Broadcom’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, sell-side analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were paid a $0.59 dividend. The ex-dividend date was Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom’s dividend payout ratio (DPR) is 60.20%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on AVGO. Truist Financial boosted their price objective on Broadcom from $295.00 to $365.00 and gave the company a “buy” rating in a research report on Friday, September 5th. Wall Street Zen lowered shares of Broadcom from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Evercore ISI raised their price objective on shares of Broadcom from $342.00 to $403.00 and gave the stock an “outperform” rating in a report on Wednesday, October 15th. TD Cowen lifted their target price on shares of Broadcom from $355.00 to $370.00 and gave the company a “buy” rating in a research report on Friday, September 5th. Finally, Sanford C. Bernstein increased their price target on shares of Broadcom from $295.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, September 5th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $372.52.

Insiders Place Their Bets

In related news, insider Charlie B. Kawwas sold 3,893 shares of the company’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total transaction of $1,354,063.26. Following the transaction, the insider owned 25,295 shares in the company, valued at $8,798,106.90. This represents a 13.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 16,558 shares of the firm’s stock in a transaction dated 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 sale, the insider owned 329,302 shares of the company’s stock, valued at $114,468,668.22. The trade was a 4.79% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders purchased 3,550 shares of company stock valued at $1,227,869 and sold 665,271 shares valued at $225,464,248. 2.00% of the stock is owned by corporate insiders.

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.