Kennicott Capital Management LLC Takes Position in Broadcom Inc. $AVGO

Kennicott Capital Management LLC acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 730 shares of the semiconductor manufacturer’s stock, valued at approximately $201,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Sawyer & Company Inc increased its position in Broadcom by 62.1% during the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 36 shares in the last quarter. Waddell & Associates LLC increased its position in Broadcom by 2.1% during the 1st quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer’s stock worth $350,000 after purchasing an additional 43 shares in the last quarter. Luts & Greenleigh Group Inc. increased its position in Broadcom by 1.3% during the 2nd quarter. Luts & Greenleigh Group Inc. now owns 3,405 shares of the semiconductor manufacturer’s stock worth $939,000 after purchasing an additional 44 shares in the last quarter. Challenger Wealth Management increased its position in Broadcom by 1.3% during the 1st quarter. Challenger Wealth Management now owns 3,504 shares of the semiconductor manufacturer’s stock worth $587,000 after purchasing an additional 45 shares in the last quarter. Finally, High Net Worth Advisory Group LLC increased its position in Broadcom by 1.7% during the 2nd quarter. High Net Worth Advisory Group LLC now owns 2,671 shares of the semiconductor manufacturer’s stock worth $736,000 after purchasing an additional 45 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Performance

Broadcom stock opened at $334.53 on Friday. The stock has a market cap of $1.58 trillion, a P/E ratio of 85.34, a price-to-earnings-growth ratio of 1.85 and a beta of 1.16. 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 stock has a 50 day moving average of $313.66 and a 200-day moving average of $252.89. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $374.23.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, beating the consensus estimate of $1.66 by $0.03. The company had revenue of $15.95 billion during 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 business’s revenue was up 22.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. On average, analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 22nd will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, September 22nd. Broadcom’s dividend payout ratio is currently 60.20%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AVGO. Cowen reissued a “buy” rating on shares of Broadcom in a research report on Friday, June 6th. TD Cowen increased their target price on shares of Broadcom from $355.00 to $370.00 and gave the stock a “buy” rating in a research report on Friday, September 5th. Cantor Fitzgerald restated an “overweight” rating and issued a $300.00 price target on shares of Broadcom in a report on Friday, June 6th. Rosenblatt Securities upped their price target on Broadcom from $340.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, September 5th. Finally, Wells Fargo & Company upped their price target on Broadcom from $255.00 to $345.00 and gave the stock an “equal weight” rating in a report on Friday, September 5th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Broadcom currently has an average rating of “Buy” and an average target price of $356.48.

Insider Buying and Selling at Broadcom

In related news, CFO Kirsten M. Spears sold 7,498 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the sale, the chief financial officer directly owned 313,330 shares of the company’s stock, 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 SEC, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $339.58, for a total value of $33,958,000.00. Following the sale, 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 disclosure for this sale can be found here. In the last 90 days, insiders acquired 3,550 shares of company stock worth $1,227,869 and sold 666,071 shares worth $225,623,008. 2.00% of the stock is currently owned by insiders.

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.