Broadcom Inc. $AVGO is Amalgamated Bank’s 6th Largest Position

Amalgamated Bank grew its position in Broadcom Inc. (NASDAQ:AVGO) by 1.0% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,014,714 shares of the semiconductor manufacturer’s stock after purchasing an additional 9,909 shares during the quarter. Broadcom makes up 2.2% of Amalgamated Bank’s portfolio, making the stock its 6th biggest position. Amalgamated Bank’s holdings in Broadcom were worth $279,706,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Prairie Wealth Advisors Inc. lifted its holdings in shares of Broadcom by 0.6% in the 2nd quarter. Prairie Wealth Advisors Inc. now owns 7,285 shares of the semiconductor manufacturer’s stock worth $2,008,000 after buying an additional 40 shares during the period. Atria Investments Inc boosted its position in Broadcom by 1.6% during the second quarter. Atria Investments Inc now owns 262,073 shares of the semiconductor manufacturer’s stock valued at $72,240,000 after purchasing an additional 4,099 shares in the last quarter. Spinnaker Trust boosted its holdings in shares of Broadcom by 0.8% in the 2nd quarter. Spinnaker Trust now owns 57,641 shares of the semiconductor manufacturer’s stock valued at $15,889,000 after buying an additional 461 shares in the last quarter. Savvy Advisors Inc. grew its position in shares of Broadcom by 59.5% in the 2nd quarter. Savvy Advisors Inc. now owns 36,879 shares of the semiconductor manufacturer’s stock worth $10,166,000 after buying an additional 13,752 shares during the last quarter. Finally, Live Oak Private Wealth LLC purchased a new position in shares of Broadcom in the 2nd quarter worth approximately $336,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Performance

AVGO opened at $351.94 on Wednesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. The firm has a fifty day moving average price of $341.75 and a 200 day moving average price of $286.75. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $386.48. The stock has a market cap of $1.66 trillion, a P/E ratio of 89.78, a P/E/G ratio of 1.46 and a beta of 1.19.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, beating 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 net margin of 31.59% and a return on equity of 36.60%. The business’s revenue was up 22.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. Equities research analysts anticipate 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. Shareholders of record on Monday, September 22nd were given a dividend of $0.59 per share. The ex-dividend date was Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Broadcom’s dividend payout ratio is currently 60.20%.

Insider Activity at Broadcom

In other Broadcom news, CFO Kirsten M. Spears sold 7,498 shares of the company’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the completion of the transaction, the chief financial officer directly owned 313,330 shares in the company, valued at approximately $108,932,307.80. This represents a 2.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 148,154 shares of the company’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $336.67, for a total transaction of $49,879,007.18. Following the sale, the chief executive officer directly owned 825,998 shares of the company’s stock, valued at $278,088,746.66. The trade was a 15.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders acquired 3,550 shares of company stock valued at $1,227,869 and sold 665,271 shares valued at $225,464,248. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $360.00 price objective (up previously from $325.00) on shares of Broadcom in a research report on Friday, September 5th. TD Cowen boosted their target price 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. Barclays set a $450.00 price objective on shares of Broadcom and gave the company an “overweight” rating in a research note on Tuesday, October 14th. Wells Fargo & Company lifted their price objective on shares of Broadcom from $255.00 to $345.00 and gave the company an “equal weight” rating in a research note on Friday, September 5th. Finally, Sanford C. Bernstein lifted their price objective 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. Three research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Broadcom has an average rating of “Buy” and a consensus price target of $372.52.

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.