Rep. Rick W. Allen Buys Broadcom Inc. (NASDAQ:AVGO) Stock

Representative Rick W. Allen (Republican-Georgia) recently bought shares of Broadcom Inc. (NASDAQ:AVGO). In a filing disclosed on September 22nd, the Representative disclosed that they had bought between $1,001 and $15,000 in Broadcom stock on August 12th. The trade occurred in the Representative’s “R.W. ALLEN & ASSOCIATES, INC. > RWA&A – SECURITIES” account.

Representative Rick W. Allen also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Taiwan Semiconductor Manufacturing (NYSE:TSM) on 8/12/2026.
• Sold $15,001 – $50,000 in shares of Rollins (NYSE:ROL) on 8/12/2026.
• Sold $15,001 – $50,000 in shares of Abbott Laboratories (NYSE:ABT) on 7/14/2026.
• Purchased $1,001 – $15,000 in shares of Broadcom (NASDAQ:AVGO) on 7/14/2026.
• Purchased $1,001 – $15,000 in shares of Advanced Micro Devices (NASDAQ:AMD) on 7/14/2026.

Broadcom Stock Down 2.6%

AVGO stock opened at $354.99 on Thursday. Broadcom Inc. has a one year low of $289.96 and a one year high of $495.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.29 and a current ratio of 2.50. The firm’s fifty day moving average is $377.21 and its 200 day moving average is $380.26. The firm has a market cap of $1.69 trillion, a PE ratio of 45.34 and a beta of 1.44.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share for the quarter, topping the consensus estimate of $3.22 by $0.10. Broadcom had a return on equity of 48.33% and a net margin of 42.94%.The business had revenue of $29.59 billion during the quarter, compared to the consensus estimate of $29.24 billion. During the same period in the prior year, the company posted $1.69 EPS. The business’s quarterly revenue was up 85.5% on a year-over-year basis. On average, research analysts forecast that Broadcom Inc. will post 10.36 EPS for the current year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, September 21st will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, September 21st. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. Broadcom’s dividend payout ratio is 33.21%.

Analysts Set New Price Targets

Several analysts have recently issued reports on AVGO shares. DA Davidson set a $350.00 target price on shares of Broadcom and gave the company a “neutral” rating in a research report on Friday, September 4th. Citigroup reissued a “buy” rating and set a $515.00 target price (up from $500.00) on shares of Broadcom in a report on Friday, September 4th. Dbs Bank upgraded Broadcom to a “moderate buy” rating in a research report on Thursday, June 18th. Erste Group Bank reiterated a “hold” rating on shares of Broadcom in a research report on Tuesday, July 7th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Broadcom from $500.00 to $580.00 and gave the stock an “overweight” rating in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $509.04.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s custom AI-chip opportunity remains the main bullish catalyst. Articles highlighted management’s projections for approximately $115 billion in AI semiconductor revenue in fiscal 2027 and $230 billion in fiscal 2028, supported by demand for custom silicon and networking infrastructure. The AI Boom Isn’t Over: 3 Stocks You Need to Watch
• Positive Sentiment: Analysts and investment writers continue to view Broadcom as a key beneficiary of AI inference spending, particularly as major technology customers seek lower-cost, purpose-built chips rather than relying exclusively on general-purpose processors. A top chip stock analyst sees big things for Nvidia, Broadcom
• Positive Sentiment: Broadcom is also being promoted as an income-and-growth investment because of its history of dividend increases and exposure to AI infrastructure. This may support demand from long-term and income-oriented investors. 3 Companies With a Strong History of Dividend Growth
• Neutral Sentiment: The bullish thesis depends on execution. Broadcom’s ambitious forecasts require sustained customer adoption, successful delivery of custom chips and networking products, and continued expansion of AI infrastructure spending. Can execution catch up with expectations at Broadcom
• Negative Sentiment: China reportedly surveyed Broadcom’s switches used in state-backed data centers as Beijing encourages domestic semiconductor suppliers and reduces reliance on foreign AI infrastructure. The review raises concerns about potential restrictions, lost orders or slower growth in China. China surveys Broadcom switch use in state data centers
• Negative Sentiment: Semiconductor stocks broadly weakened as higher Treasury yields, rising oil prices and a pause in the wider equity rally pressured richly valued growth shares. Broadcom’s elevated valuation increases its sensitivity to any doubts about AI growth or execution. Why are Intel, AMD, Broadcom stocks down

Hedge Funds Weigh In On Broadcom

A number of institutional investors have recently bought and sold shares of the company. State Street Corp raised its holdings in shares of Broadcom by 8.7% in the 2nd quarter. State Street Corp now owns 208,031,610 shares of the semiconductor manufacturer’s stock valued at $75,367,711,000 after buying an additional 16,651,378 shares during the period. Geode Capital Management LLC grew its position in Broadcom by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 111,277,280 shares of the semiconductor manufacturer’s stock valued at $38,396,634,000 after acquiring an additional 1,548,699 shares in the last quarter. Norges Bank acquired a new position in Broadcom in the 4th quarter valued at about $24,252,196,000. Bank of America Corp DE increased its stake in Broadcom by 4.6% during the second quarter. Bank of America Corp DE now owns 61,423,013 shares of the semiconductor manufacturer’s stock worth $23,202,543,000 after purchasing an additional 2,685,916 shares during the period. Finally, Wellington Management Group LLP lifted its position in shares of Broadcom by 3.8% during the second quarter. Wellington Management Group LLP now owns 51,580,703 shares of the semiconductor manufacturer’s stock worth $19,484,611,000 after purchasing an additional 1,892,721 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Broadcom news, Director Justine Page sold 1,602 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $373.86, for a total transaction of $598,923.72. Following the sale, the director directly owned 17,426 shares in the company, valued at $6,514,884.36. This represents a 8.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gayla Delly sold 1,890 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total transaction of $728,368.20. Following the completion of the transaction, the director directly owned 31,326 shares of the company’s stock, valued at $12,072,413.88. This represents a 5.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 53,492 shares of company stock valued at $20,840,292. 1.90% of the stock is currently owned by company insiders.

About Representative Allen

Rick Allen (Republican Party) is a member of the U.S. House, representing Georgia’s 12th Congressional District. He assumed office on January 3, 2015. His current term ends on January 3, 2027.

Allen (Republican Party) ran for re-election to the U.S. House to represent Georgia’s 12th Congressional District. He won in the general election on November 5, 2024.

Allen was born in Augusta, Georgia, in 1951. He attended Auburn University in Alabama, graduating in 1973 with a B.S. in building construction.

After earning his degree, Allen worked as an estimator, project administrator and assistant to the president with a construction firm in Augusta. In 1976, he founded his own construction business, R. W. Allen & Associates, Inc. The company operates in six states across the country. In 2008, Allen was presented with the Augusta Metro Chamber of Commerce’s Small Business Person of the Year award.

About Broadcom

Broadcom Inc (NASDAQ:AVGO) designs, develops and supplies semiconductor and infrastructure software products for businesses, telecommunications providers and other organizations worldwide. Its semiconductor portfolio includes networking and connectivity components, custom application-specific integrated circuits, broadband and wireless communications products, storage adapters, optical components, and industrial solutions.

The company also provides enterprise infrastructure software through businesses including VMware, which offers virtualization and private- and hybrid-cloud solutions; mainframe and enterprise software; and cybersecurity products.