Hiddenite Capital Partners LP Has $13.22 Million Position in Broadcom Inc. $AVGO

Hiddenite Capital Partners LP reduced its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 61.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,970 shares of the semiconductor manufacturer’s stock after selling 75,000 shares during the period. Broadcom makes up 3.5% of Hiddenite Capital Partners LP’s portfolio, making the stock its 7th biggest holding. Hiddenite Capital Partners LP’s holdings in Broadcom were worth $13,223,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cassaday & Co Wealth Management LLC boosted its stake in Broadcom by 2.2% during the second quarter. Cassaday & Co Wealth Management LLC now owns 5,905 shares of the semiconductor manufacturer’s stock valued at $1,628,000 after buying an additional 125 shares during the period. Rockline Wealth Management LLC raised its holdings in shares of Broadcom by 2.4% in the 2nd quarter. Rockline Wealth Management LLC now owns 44,866 shares of the semiconductor manufacturer’s stock valued at $12,367,000 after acquiring an additional 1,057 shares in the last quarter. Elyxium Wealth LLC boosted its position in shares of Broadcom by 2.1% during the 2nd quarter. Elyxium Wealth LLC now owns 16,037 shares of the semiconductor manufacturer’s stock valued at $4,421,000 after acquiring an additional 323 shares during the last quarter. Prosperity Consulting Group LLC grew its holdings in shares of Broadcom by 1.1% during the second quarter. Prosperity Consulting Group LLC now owns 48,896 shares of the semiconductor manufacturer’s stock worth $13,478,000 after purchasing an additional 538 shares in the last quarter. Finally, Huntington National Bank increased its position in shares of Broadcom by 2.5% in the second quarter. Huntington National Bank now owns 1,135,215 shares of the semiconductor manufacturer’s stock worth $312,923,000 after purchasing an additional 27,793 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AVGO. Wells Fargo & Company lifted their target price on shares of Broadcom from $255.00 to $345.00 and gave the company an “equal weight” rating in a research report on Friday, September 5th. Benchmark raised their price objective on shares of Broadcom from $315.00 to $385.00 and gave the company a “buy” rating in a research report on Friday, September 5th. Evercore ISI upped their target price on shares of Broadcom from $342.00 to $403.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 15th. Morgan Stanley set a $409.00 price target on Broadcom and gave the company an “overweight” rating in a research report on Tuesday, October 14th. Finally, Deutsche Bank Aktiengesellschaft set a $400.00 price target on Broadcom and gave the stock a “buy” rating in a research note on Tuesday, October 14th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $372.52.

Broadcom Stock Performance

NASDAQ AVGO opened at $349.43 on Friday. The company has a 50-day simple moving average of $344.91 and a two-hundred day simple moving average of $289.83. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $386.48. The firm has a market cap of $1.65 trillion, a price-to-earnings ratio of 89.14, a PEG ratio of 1.41 and a beta of 1.19. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86.

Broadcom (NASDAQ:AVGO) last released its earnings results 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 company had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.Broadcom’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. On average, equities analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

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

Insider Activity

In other news, insider Charlie B. Kawwas sold 3,893 shares of the firm’s stock in a transaction that occurred 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 owned 25,295 shares in the company, valued at approximately $8,798,106.90. This trade represents a 13.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 16,558 shares of Broadcom stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the completion of the transaction, the insider directly owned 329,302 shares in the company, valued at approximately $114,468,668.22. The trade was a 4.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. 2.00% of the stock is owned by company 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.