Pettinga Financial Advisors LLC Increases Position in Broadcom Inc. $AVGO

Pettinga Financial Advisors LLC lifted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 2.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 2,683 shares of the semiconductor manufacturer’s stock after acquiring an additional 71 shares during the quarter. Pettinga Financial Advisors LLC’s holdings in Broadcom were worth $740,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Broadcom by 0.4% in the first quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer’s stock valued at $79,900,968,000 after purchasing an additional 2,085,534 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Broadcom by 37.8% in the first 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 during the last quarter. Nuveen LLC purchased a new position in Broadcom in the first quarter valued at approximately $6,649,117,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Broadcom by 2.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 35,243,467 shares of the semiconductor manufacturer’s stock valued at $5,900,814,000 after purchasing an additional 842,088 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Broadcom by 3.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 33,852,310 shares of the semiconductor manufacturer’s stock valued at $5,668,134,000 after purchasing an additional 1,043,948 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Rosenblatt Securities upped their price objective on Broadcom from $340.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, September 5th. Sanford C. Bernstein boosted their target price on shares of Broadcom from $295.00 to $400.00 and gave the company an “outperform” rating in a report on Friday, September 5th. Citigroup reissued a “buy” rating and set a $415.00 target price (up previously from $350.00) on shares of Broadcom in a report on Tuesday, October 14th. Morgan Stanley set a $409.00 target price on shares of Broadcom and gave the company an “overweight” rating in a report on Tuesday, October 14th. Finally, Oppenheimer reissued an “outperform” rating and set a $360.00 target price (up previously from $325.00) on shares of Broadcom in a report 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 assigned a Hold rating to the company’s stock. According to data from MarketBeat, Broadcom presently has a consensus rating of “Buy” and an average price target of $372.52.

Broadcom Trading Down 1.9%

Broadcom stock opened at $342.66 on Wednesday. The stock has a market cap of $1.62 trillion, a P/E ratio of 87.41, a PEG ratio of 1.97 and a beta of 1.20. Broadcom Inc. has a fifty-two week low of $138.10 and a fifty-two week high of $374.23. The firm’s fifty day moving average price is $329.23 and its 200-day moving average price is $271.96. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50.

Broadcom (NASDAQ:AVGO) last released its quarterly 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 firm had revenue of $15.95 billion for 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 quarterly revenue was up 22.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. Equities research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were issued a $0.59 dividend. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Broadcom’s dividend payout ratio is presently 60.20%.

Insiders Place Their Bets

In related news, Director Henry Samueli sold 368,797 shares of the stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $337.91, for a total value of $124,620,194.27. Following the transaction, the director owned 37,722,534 shares of the company’s stock, valued at $12,746,821,463.94. This represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hock E. Tan sold 148,154 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer directly owned 825,998 shares in the company, valued at approximately $278,088,746.66. This represents a 15.21% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 3,550 shares of company stock valued at $1,227,869 and have sold 665,271 shares valued at $225,464,248. Insiders own 2.00% of the company’s stock.

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.