Prudential Financial Inc. Buys 305,641 Shares of Broadcom Inc. $AVGO

Prudential Financial Inc. boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,285,554 shares of the semiconductor manufacturer’s stock after acquiring an additional 305,641 shares during the quarter. Broadcom accounts for 1.9% of Prudential Financial Inc.’s holdings, making the stock its 8th largest position. Prudential Financial Inc.’s holdings in Broadcom were worth $1,456,961,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Sawyer & Company Inc lifted its stake in shares of Broadcom by 62.1% in the 2nd 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 period. PFS Partners LLC grew its position in shares of Broadcom by 38.4% during the 2nd quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer’s stock valued at $38,000 after acquiring an additional 38 shares during the period. Costello Asset Management INC raised its holdings in Broadcom by 1.5% in the 2nd quarter. Costello Asset Management INC now owns 2,528 shares of the semiconductor manufacturer’s stock worth $697,000 after purchasing an additional 38 shares during the period. Walkner Condon Financial Advisors LLC increased its position in shares of Broadcom by 1.0% in the second quarter. Walkner Condon Financial Advisors LLC now owns 3,944 shares of the semiconductor manufacturer’s stock valued at $1,087,000 after buying an additional 38 shares in the last quarter. Finally, Carson Advisory Inc. lifted its position in shares of Broadcom by 2.0% during the 2nd quarter. Carson Advisory Inc. now owns 2,023 shares of the semiconductor manufacturer’s stock valued at $558,000 after buying an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AVGO shares. UBS Group set a $415.00 target price on shares of Broadcom and gave the stock a “buy” rating in a research note on Tuesday, October 14th. Wells Fargo & Company increased their target price on Broadcom from $255.00 to $345.00 and gave the company an “equal weight” rating in a report on Friday, September 5th. Oppenheimer restated an “outperform” rating and issued a $360.00 target price (up previously from $325.00) on shares of Broadcom in a research report on Friday, September 5th. Truist Financial boosted their price target on Broadcom from $295.00 to $365.00 and gave the stock a “buy” rating in a research report on Friday, September 5th. Finally, Morgan Stanley set a $409.00 price objective on Broadcom and gave the company an “overweight” rating in a report on Tuesday, October 14th. Three analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Broadcom has a consensus rating of “Buy” and an average price target of $374.21.

Broadcom Stock Down 1.9%

Shares of NASDAQ:AVGO opened at $340.20 on Monday. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86. The business has a fifty day moving average of $348.15 and a two-hundred day moving average of $301.26. The stock has a market cap of $1.61 trillion, a P/E ratio of 86.79, a PEG ratio of 1.16 and a beta of 1.19. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $386.48.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping the consensus estimate of $1.66 by $0.03. The business had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The company’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. On average, research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a 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 related news, CEO Hock E. Tan sold 100,000 shares of the stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $339.58, for a total value of $33,958,000.00. Following the completion of the transaction, the chief executive officer directly owned 725,638 shares in the company, valued at approximately $246,412,152.04. This represents a 12.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark David Brazeal sold 16,558 shares of the firm’s stock in a transaction on 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 sale, the insider directly owned 329,302 shares of the company’s stock, valued at approximately $114,468,668.22. This trade represents a 4.79% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have bought 3,550 shares of company stock worth $1,227,869 and have sold 665,271 shares worth $225,483,192. Corporate insiders own 2.00% of the company’s stock.

Broadcom 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.