Connable Office Inc. Boosts Stock Holdings in Broadcom Inc. $AVGO

Connable Office Inc. increased its stake in Broadcom Inc. (NASDAQ:AVGO) by 6.1% during the 2nd quarter, Holdings Channel reports. The fund owned 21,432 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,235 shares during the quarter. Broadcom makes up approximately 0.6% of Connable Office Inc.’s investment portfolio, making the stock its 25th biggest position. Connable Office Inc.’s holdings in Broadcom were worth $5,908,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sawyer & Company Inc raised its position in Broadcom by 62.1% in the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 36 shares in the last quarter. PFS Partners LLC increased its stake in shares of Broadcom by 38.4% during the second quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer’s stock worth $38,000 after buying an additional 38 shares during the period. Costello Asset Management INC increased its stake in shares of Broadcom by 1.5% during the second quarter. Costello Asset Management INC now owns 2,528 shares of the semiconductor manufacturer’s stock worth $697,000 after buying an additional 38 shares during the period. Carson Advisory Inc. raised its holdings in Broadcom by 2.0% in the second quarter. Carson Advisory Inc. now owns 2,023 shares of the semiconductor manufacturer’s stock valued at $558,000 after acquiring an additional 39 shares in the last quarter. Finally, Prairie Wealth Advisors Inc. lifted its stake in Broadcom by 0.6% in the second quarter. Prairie Wealth Advisors Inc. now owns 7,285 shares of the semiconductor manufacturer’s stock worth $2,008,000 after acquiring an additional 40 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Charlie B. Kawwas sold 3,893 shares of Broadcom stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total value of $1,354,063.26. Following the transaction, the insider directly owned 25,295 shares of the company’s stock, valued at $8,798,106.90. The trade was a 13.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction of $124,620,194.27. Following the sale, the director 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 disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have bought 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 Price Performance

Shares of AVGO opened at $349.43 on Friday. 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 Inc. has a 1-year low of $138.10 and a 1-year high of $386.48. The stock has a market cap of $1.65 trillion, a PE ratio of 89.14, a price-to-earnings-growth ratio of 1.43 and a beta of 1.19. The firm has a fifty day moving average price of $344.91 and a 200 day moving average price of $289.00.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.03. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The company had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. During the same quarter last year, the company posted $1.24 earnings per share. The business’s quarterly revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. As a group, sell-side analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have commented on AVGO. Evercore ISI boosted their price target on shares of Broadcom from $342.00 to $403.00 and gave the stock an “outperform” rating in a report on Wednesday, October 15th. Wells Fargo & Company boosted their target price on shares of Broadcom from $255.00 to $345.00 and gave the stock an “equal weight” rating in a research note on Friday, September 5th. Wall Street Zen lowered Broadcom from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Argus raised their price target on Broadcom from $285.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, September 8th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $340.00 price objective on shares of Broadcom in a research report on Wednesday, August 13th. Three analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target 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.