Broadcom Inc. $AVGO is Zweig DiMenna Associates LLC’s 2nd Largest Position

Zweig DiMenna Associates LLC lessened its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.2% in the second quarter, HoldingsChannel reports. The firm owned 205,430 shares of the semiconductor manufacturer’s stock after selling 4,630 shares during the quarter. Broadcom makes up approximately 5.4% of Zweig DiMenna Associates LLC’s holdings, making the stock its 2nd biggest holding. Zweig DiMenna Associates LLC’s holdings in Broadcom were worth $56,627,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of AVGO. Vanguard Group Inc. increased 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 shares of Broadcom by 37.8% during 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 purchasing an additional 17,985,046 shares in the last quarter. Nuveen LLC purchased a new position in Broadcom in the 1st quarter worth approximately $6,649,117,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of 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 worth $5,900,814,000 after acquiring an additional 842,088 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Broadcom by 3.2% during the 1st 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 acquiring an additional 1,043,948 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Trading Down 0.9%

NASDAQ:AVGO opened at $355.59 on Friday. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $1.68 trillion, a price-to-earnings ratio of 90.71, a PEG ratio of 1.45 and a beta of 1.19. The business’s 50-day moving average price is $343.86 and its two-hundred day moving average price is $287.73. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $386.48.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data 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. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The business had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. During the same quarter last year, the firm earned $1.24 EPS. Broadcom’s quarterly revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. On average, equities analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently disclosed 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 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%.

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft set a $400.00 price objective on shares of Broadcom and gave the stock a “buy” rating in a report on Tuesday, October 14th. Barclays set a $450.00 price objective on Broadcom and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. Sanford C. Bernstein upped their price target on Broadcom from $295.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday, September 5th. Wall Street Zen lowered Broadcom from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Finally, Arete Research raised shares of Broadcom to a “strong-buy” rating in a research note on Monday, July 28th. Three analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Broadcom presently has a consensus rating of “Buy” and an average price target of $372.52.

Insider Buying and Selling at Broadcom

In related news, CFO Kirsten M. Spears sold 7,498 shares of the stock in a transaction 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 sale, the chief financial officer owned 313,330 shares in the company, valued at approximately $108,932,307.80. This represents a 2.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hock E. Tan sold 148,154 shares of the firm’s stock in a transaction dated 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 owned 825,998 shares of the company’s stock, valued at approximately $278,088,746.66. This represents a 15.21% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders acquired 3,550 shares of company stock worth $1,227,869 and sold 665,271 shares worth $225,464,248. 2.00% of the stock is owned by insiders.

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.