Austin Wealth Management LLC Acquires 777 Shares of Broadcom Inc. $AVGO

Austin Wealth Management LLC lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 27.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 3,646 shares of the semiconductor manufacturer’s stock after purchasing an additional 777 shares during the period. Austin Wealth Management LLC’s holdings in Broadcom were worth $1,071,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in AVGO. Nuveen LLC purchased a new stake in shares of Broadcom in the first quarter worth approximately $6,649,117,000. Price T Rowe Associates Inc. MD grew its holdings 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 worth $10,968,270,000 after buying an additional 17,985,046 shares in the last quarter. Goldman Sachs Group Inc. raised its position 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 buying an additional 4,550,647 shares during the last quarter. Deutsche Bank AG lifted its stake in Broadcom by 36.9% during 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 acquiring an additional 4,245,345 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its stake in Broadcom by 16.0% during 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 acquiring an additional 4,077,910 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Up 0.7%

AVGO stock opened at $342.46 on Friday. The stock has a fifty day moving average of $349.09 and a 200-day moving average of $295.48. Broadcom Inc. has a fifty-two week low of $138.10 and a fifty-two week high of $386.48. The company has a market capitalization of $1.62 trillion, a price-to-earnings ratio of 87.36, a PEG ratio of 1.38 and a beta of 1.19. 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 (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, beating the consensus estimate of $1.66 by $0.03. The business had revenue of $15.95 billion for the quarter, compared to the consensus estimate of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The company’s revenue was up 22.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. As a group, equities research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Monday, September 22nd. Broadcom’s payout ratio is presently 60.20%.

Insiders Place Their Bets

In other news, CFO Kirsten M. Spears sold 7,498 shares of the stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total value of $2,606,754.68. Following the sale, the chief financial officer directly owned 313,330 shares of the company’s stock, valued at approximately $108,932,307.80. This represents a 2.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Henry Samueli sold 368,797 shares of the firm’s stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $337.91, for a total transaction of $124,620,194.27. Following the completion of the transaction, the director owned 37,722,534 shares of the company’s stock, valued at $12,746,821,463.94. This trade represents a 0.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have purchased 3,550 shares of company stock worth $1,227,869 and have sold 664,471 shares worth $225,218,280. 2.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Broadcom in a research report on Thursday. Arete Research raised Broadcom to a “strong-buy” rating in a research report on Monday, July 28th. TD Cowen lifted their price target on Broadcom from $355.00 to $370.00 and gave the stock a “buy” rating in a report on Friday, September 5th. Sanford C. Bernstein boosted their price objective on Broadcom from $295.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, September 5th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $360.00 target price (up from $325.00) on shares of Broadcom in a research report on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $372.52.

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.