Harbor Asset Planning Inc. Takes Position in Broadcom Inc. $AVGO

Harbor Asset Planning Inc. acquired a new stake in Broadcom Inc. (NASDAQ:AVGO) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 460 shares of the semiconductor manufacturer’s stock, valued at approximately $127,000.

Several other large investors have also made changes to their positions in AVGO. Nuveen LLC purchased a new position in shares of Broadcom in the first quarter valued at about $6,649,117,000. Price T Rowe Associates Inc. MD lifted its position in shares of 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 worth $10,968,270,000 after buying an additional 17,985,046 shares in the last quarter. Goldman Sachs Group Inc. lifted its position 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 buying an additional 4,550,647 shares in the last quarter. Deutsche Bank AG lifted 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. lifted its position in shares of Broadcom by 16.0% in 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. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Kirsten M. Spears sold 7,498 shares of the stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total value of $2,606,754.68. Following the transaction, the chief financial officer owned 313,330 shares of the company’s stock, valued at $108,932,307.80. This represents a 2.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark David Brazeal sold 16,558 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 329,302 shares in the company, valued at approximately $114,468,668.22. This trade represents a 4.79% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, 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. Corporate insiders own 2.00% of the company’s stock.

Broadcom Trading Down 0.7%

Shares of NASDAQ AVGO opened at $340.30 on Thursday. The stock has a market capitalization of $1.61 trillion, a P/E ratio of 86.81, a PEG ratio of 1.93 and a beta of 1.20. The business’s 50 day moving average is $329.86 and its two-hundred day moving average is $272.43. 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.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 36.60% and a net margin of 31.59%.The company’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. As a group, research analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. boosted their target price on Broadcom from $325.00 to $400.00 and gave the stock an “overweight” rating in a research report on Friday, September 5th. Benchmark boosted their target price on Broadcom from $315.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, September 5th. TD Cowen boosted their target price on 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 target price on Broadcom and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Finally, Citigroup reiterated a “buy” rating and issued a $415.00 target price (up from $350.00) on shares of Broadcom in a research report on Tuesday, October 14th. Three investment 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 company currently has an average rating of “Buy” and an average target price of $372.52.

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.