NorthRock Partners LLC Buys 7,177 Shares of Broadcom Inc. $AVGO

NorthRock Partners LLC lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 14.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 56,815 shares of the semiconductor manufacturer’s stock after purchasing an additional 7,177 shares during the quarter. NorthRock Partners LLC’s holdings in Broadcom were worth $15,659,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in AVGO. Nuveen LLC purchased a new stake in Broadcom in the 1st quarter worth approximately $6,649,117,000. Price T Rowe Associates Inc. MD grew its position 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 purchasing an additional 17,985,046 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings 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 worth $5,333,384,000 after purchasing an additional 4,550,647 shares during the period. Deutsche Bank AG raised its position 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 worth $2,638,512,000 after buying an additional 4,245,345 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in Broadcom by 16.0% during the first quarter. Alliancebernstein L.P. now owns 29,513,814 shares of the semiconductor manufacturer’s stock worth $4,941,498,000 after buying an additional 4,077,910 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Stock Down 1.4%

AVGO opened at $349.33 on Monday. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $374.23. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. The business’s 50-day moving average price is $327.73 and its 200-day moving average price is $270.05. The company has a market cap of $1.65 trillion, a P/E ratio of 89.11, a P/E/G ratio of 1.97 and a beta of 1.20.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate 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 last year, the company earned $1.24 EPS. Broadcom’s revenue for the quarter was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. On average, equities analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

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 was Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom’s payout ratio is presently 60.20%.

Analysts Set New Price Targets

AVGO has been the topic of several recent analyst reports. Arete Research raised Broadcom to a “strong-buy” rating in a report on Monday, July 28th. Sanford C. Bernstein raised their target price on shares of Broadcom from $295.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday, September 5th. Hsbc Global Res raised shares of Broadcom from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 24th. Wells Fargo & Company upped their target price on shares of Broadcom from $255.00 to $345.00 and gave the stock an “equal weight” rating in a research report on Friday, September 5th. Finally, TD Cowen raised their price target on Broadcom from $355.00 to $370.00 and gave the company a “buy” rating in a research report on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $372.33.

Insider Activity

In other news, insider Charlie B. Kawwas sold 3,893 shares of the 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 completion of the sale, the insider directly owned 25,295 shares in the company, valued at approximately $8,798,106.90. This represents a 13.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 16,558 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total value of $5,755,726.38. Following the completion of the sale, the insider directly owned 329,302 shares in the company, valued at $114,468,668.22. The trade was a 4.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, 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 currently owned by 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.