Murphy Pohlad Asset Management LLC Acquires New Shares in Broadcom Inc. $AVGO

Murphy Pohlad Asset Management LLC acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the second quarter, HoldingsChannel reports. The fund acquired 970 shares of the semiconductor manufacturer’s stock, valued at approximately $267,000.

A number of other institutional investors have also recently bought and sold shares of the company. Assetmark Inc. lifted its position in shares of Broadcom by 2.4% in the second quarter. Assetmark Inc. now owns 1,703,487 shares of the semiconductor manufacturer’s stock worth $469,566,000 after buying an additional 39,466 shares during the last quarter. PARUS FINANCE UK Ltd grew its stake in Broadcom by 175.3% in the 1st quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer’s stock valued at $16,840,000 after buying an additional 64,038 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in Broadcom by 27.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 64,130 shares of the semiconductor manufacturer’s stock valued at $10,737,000 after buying an additional 13,978 shares during the last quarter. Ethic Inc. grew its stake in Broadcom by 1.6% in the 2nd quarter. Ethic Inc. now owns 329,339 shares of the semiconductor manufacturer’s stock valued at $88,708,000 after buying an additional 5,249 shares during the last quarter. Finally, Asio Capital LLC grew its stake in Broadcom by 2.0% in the 2nd quarter. Asio Capital LLC now owns 54,459 shares of the semiconductor manufacturer’s stock valued at $15,012,000 after buying an additional 1,089 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insiders Place Their Bets

In other news, Director Henry Samueli sold 368,797 shares of the stock in a transaction that occurred 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 completion of the transaction, the director directly owned 37,722,534 shares of the company’s stock, valued at approximately $12,746,821,463.94. This represents a 0.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Hock E. Tan sold 148,154 shares of the stock in a transaction that occurred on Wednesday, September 10th. The stock was 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 of the company’s stock, valued at approximately $278,088,746.66. The trade was a 15.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, 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 currently owned by corporate insiders.

Broadcom Price Performance

NASDAQ:AVGO opened at $351.94 on Wednesday. The company has a 50-day moving average of $341.75 and a 200-day moving average of $286.75. The company has a market capitalization of $1.66 trillion, a price-to-earnings ratio of 89.78, a PEG ratio of 1.46 and a beta of 1.19. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $386.48. 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 data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.03. The company had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The firm’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same period last year, the firm earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. As a group, equities research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom’s dividend payout ratio is presently 60.20%.

Wall Street Analyst Weigh In

AVGO has been the subject of several research analyst reports. Oppenheimer reissued an “outperform” rating and set a $360.00 price objective (up previously from $325.00) on shares of Broadcom in a research report on Friday, September 5th. Argus boosted their price objective on Broadcom from $285.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, September 8th. The Goldman Sachs Group reissued a “buy” rating and set a $340.00 price objective on shares of Broadcom in a research report on Wednesday, August 13th. Piper Sandler boosted their price objective on Broadcom from $315.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday, September 5th. Finally, Macquarie initiated coverage on Broadcom in a research report on Monday, September 15th. They set an “outperform” rating and a $420.00 price objective for the company. Three investment 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’s stock. According to data from MarketBeat, Broadcom has an average rating of “Buy” and a consensus target price of $372.52.

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.