Legacy Investment Solutions LLC Makes New Investment in Broadcom Inc. $AVGO

Legacy Investment Solutions LLC acquired a new stake in Broadcom Inc. (NASDAQ:AVGO) in the second quarter, HoldingsChannel reports. The firm acquired 510 shares of the semiconductor manufacturer’s stock, valued at approximately $141,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Cheviot Value Management LLC acquired a new stake in shares of Broadcom during the first quarter worth $25,000. Sawyer & Company Inc increased its stake in Broadcom by 62.1% in the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 36 shares during the last quarter. Legend Financial Advisors Inc. purchased a new position in Broadcom during the second quarter worth about $28,000. LGT Financial Advisors LLC acquired a new stake in Broadcom in the 2nd quarter worth about $31,000. Finally, Greenline Partners LLC acquired a new stake in Broadcom in the 1st quarter worth about $33,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Activity at Broadcom

In other news, insider Mark David Brazeal sold 16,558 shares of the business’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 transaction, the insider directly owned 329,302 shares of the company’s stock, valued at approximately $114,468,668.22. The trade was a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Hock E. Tan sold 100,000 shares of the company’s stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $339.58, for a total transaction of $33,958,000.00. Following the completion of the transaction, the chief executive officer owned 725,638 shares of the company’s stock, valued at $246,412,152.04. This trade represents a 12.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have bought 3,550 shares of company stock valued at $1,227,869 and have sold 665,271 shares valued at $225,464,248. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AVGO. Wells Fargo & Company increased their price objective on shares of Broadcom from $255.00 to $345.00 and gave the stock an “equal weight” rating in a report on Friday, September 5th. TD Cowen upped their price target on shares of Broadcom from $355.00 to $370.00 and gave the stock a “buy” rating in a research report on Friday, September 5th. Citigroup reaffirmed a “buy” rating and set a $415.00 price target (up previously from $350.00) on shares of Broadcom in a research note on Tuesday, October 14th. Piper Sandler boosted their price objective on shares of Broadcom from $315.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, September 5th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $340.00 price objective on shares of Broadcom in a report on Wednesday, August 13th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $372.52.

Broadcom Trading Down 1.8%

NASDAQ:AVGO opened at $351.96 on Wednesday. The business’s 50-day moving average is $347.20 and its two-hundred day moving average is $292.95. The firm has a market capitalization of $1.66 trillion, a PE ratio of 89.79, a price-to-earnings-growth ratio of 1.45 and a beta of 1.19. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $386.48. 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 (NASDAQ:AVGO) last issued 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 company had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The company’s revenue was up 22.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. Research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were given 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 dividend payout ratio (DPR) is 60.20%.

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.