Prudential PLC Boosts Stock Holdings in Broadcom Inc. $AVGO

Prudential PLC lifted its position in Broadcom Inc. (NASDAQ:AVGO) by 12.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 535,773 shares of the semiconductor manufacturer’s stock after acquiring an additional 60,025 shares during the quarter. Broadcom makes up approximately 0.9% of Prudential PLC’s portfolio, making the stock its 14th largest position. Prudential PLC’s holdings in Broadcom were worth $147,686,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Sawyer & Company Inc increased its stake 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 buying an additional 36 shares during the last quarter. Legend Financial Advisors Inc. purchased a new position in shares of Broadcom in the 2nd quarter worth approximately $28,000. LGT Financial Advisors LLC bought a new position in shares of Broadcom in the second quarter valued at approximately $31,000. New England Capital Financial Advisors LLC purchased a new stake in shares of Broadcom during the second quarter valued at approximately $31,000. Finally, Maseco LLP bought a new stake in Broadcom during the second quarter worth $34,000. 76.43% of the stock is owned by institutional investors.

Insider Buying and Selling at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $339.58, for a total value of $33,958,000.00. Following the completion of the transaction, the chief executive officer owned 725,638 shares in the company, valued at $246,412,152.04. This trade represents a 12.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charlie B. Kawwas sold 3,893 shares of Broadcom stock in a transaction dated 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. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have bought 3,550 shares of company stock worth $1,227,869 and have sold 665,271 shares worth $225,483,192. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO stock opened at $340.20 on Friday. The firm’s 50 day moving average is $348.15 and its 200 day moving average is $299.89. The stock has a market capitalization of $1.61 trillion, a P/E ratio of 86.79, a PEG ratio of 1.19 and a beta of 1.19. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $386.48. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86.

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, beating analysts’ consensus estimates of $1.66 by $0.03. The business had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. Broadcom’s revenue was up 22.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. On average, sell-side analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their target price on Broadcom from $325.00 to $400.00 and gave the company an “overweight” rating in a research report on Friday, September 5th. Truist Financial raised their price objective on shares of Broadcom from $295.00 to $365.00 and gave the stock a “buy” rating in a report on Friday, September 5th. Morgan Stanley set a $409.00 price objective on shares of Broadcom and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Benchmark raised their price target on shares of Broadcom from $315.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, September 5th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Broadcom in a report on Wednesday. Three investment analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $374.21.

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.