Harbour Investments Inc. Buys 1,280 Shares of Broadcom Inc. $AVGO

Harbour Investments Inc. lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 4.7% in the second quarter, HoldingsChannel.com reports. The fund owned 28,337 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,280 shares during the quarter. Harbour Investments Inc.’s holdings in Broadcom were worth $7,811,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Mitchell Mcleod Pugh & Williams Inc. lifted its stake in Broadcom by 3.3% in the second quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 29,651 shares of the semiconductor manufacturer’s stock worth $8,173,000 after purchasing an additional 948 shares during the last quarter. Davidson Trust Co. lifted its stake in Broadcom by 9.3% in the second quarter. Davidson Trust Co. now owns 7,108 shares of the semiconductor manufacturer’s stock worth $1,959,000 after purchasing an additional 606 shares during the last quarter. JGP Wealth Management LLC lifted its stake in Broadcom by 6.1% in the second quarter. JGP Wealth Management LLC now owns 3,471 shares of the semiconductor manufacturer’s stock worth $957,000 after purchasing an additional 201 shares during the last quarter. Cypress Wealth Services LLC lifted its stake in Broadcom by 13.2% in the second quarter. Cypress Wealth Services LLC now owns 6,302 shares of the semiconductor manufacturer’s stock worth $1,737,000 after purchasing an additional 735 shares during the last quarter. Finally, Innova Wealth Partners lifted its stake in Broadcom by 33.5% in the second quarter. Innova Wealth Partners now owns 2,052 shares of the semiconductor manufacturer’s stock worth $566,000 after purchasing an additional 515 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on AVGO shares. Evercore ISI boosted their price target on shares of Broadcom from $342.00 to $403.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 15th. Morgan Stanley set a $409.00 price target on shares of Broadcom and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. Wells Fargo & Company upped 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. Weiss Ratings downgraded shares of Broadcom from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Finally, Benchmark upped their price objective on shares of Broadcom from $315.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, September 5th. 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 stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $372.33.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $349.24 on Tuesday. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $374.23. 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 company’s 50-day moving average is $328.64 and its 200 day moving average is $271.47. The stock has a market capitalization of $1.65 trillion, a P/E ratio of 89.09, a P/E/G ratio of 1.97 and a beta of 1.20.

Broadcom (NASDAQ:AVGO) last announced its quarterly 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. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The company had revenue of $15.95 billion for the quarter, compared to analysts’ expectations of $15.82 billion. During the same quarter in the previous year, the company earned $1.24 earnings per share. Broadcom’s quarterly revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. On average, sell-side analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors 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 annualized dividend and a dividend yield of 0.7%. Broadcom’s payout ratio is currently 60.20%.

Insider Activity at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 148,154 shares of the company’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $336.67, for a total value of $49,879,007.18. Following the sale, the chief executive officer owned 825,998 shares in the company, valued at approximately $278,088,746.66. This represents a 15.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Henry Samueli sold 368,797 shares of the company’s stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $337.91, for a total transaction of $124,620,194.27. Following the completion of the sale, the director owned 37,722,534 shares in the company, valued at approximately $12,746,821,463.94. This trade represents a 0.97% decrease in their position. The disclosure for this sale can be found here. 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. Corporate insiders own 2.00% of the company’s stock.

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.