K2 Principal Fund L.P. Sells 1,228 Shares of Broadcom Inc. $AVGO
K2 Principal Fund L.P. has reduced its stake in Broadcom Inc. (NASDAQ:AVGO) by 23.2%, selling 1,228 shares in the first quarter, leaving it with 4,072 shares valued at $682,000. Other institutional investors have also adjusted their holdings, with significant increases from firms like Nuveen LLC and Price T Rowe Associates. Insider transactions included sales by Director Gayla J. Delly and CEO Hock E. Tan. Analysts have raised price targets for Broadcom, with a consensus rating of "Buy" and a target price of $304.17.
K2 Principal Fund L.P. reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 23.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 4,072 shares of the semiconductor manufacturer's stock after selling 1,228 shares during the period. K2 Principal Fund L.P.'s holdings in Broadcom were worth $682,000 as of its most recent filing with the SEC.
- Why Marvell’s 19% Drop Could Be a Big Buy-the-Dip Opportunity
A number of other institutional investors have also recently bought and sold shares of AVGO. Nuveen LLC bought a new stake in shares of Broadcom during the first quarter worth $6,649,117,000. Price T Rowe Associates Inc. MD lifted its position in Broadcom by 37.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer's stock valued at $10,968,270,000 after acquiring an additional 17,985,046 shares in the last quarter. GAMMA Investing LLC boosted its stake in Broadcom by 18,179.3% in the 1st quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer's stock worth $2,892,548,000 after purchasing an additional 17,181,652 shares during the period. Goldman Sachs Group Inc. increased its holdings in Broadcom by 16.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer's stock worth $5,333,384,000 after purchasing an additional 4,550,647 shares in the last quarter. Finally, Deutsche Bank AG raised its stake in shares of Broadcom by 36.9% in the 1st quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer's stock valued at $2,638,512,000 after purchasing an additional 4,245,345 shares during the period. Institutional investors own 76.43% of the company's stock.
Insider Transactions at Broadcom
In other news, Director Gayla J. Delly sold 3,000 shares of Broadcom stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $265.13, for a total transaction of $795,390.00. Following the completion of the transaction, the director directly owned 33,352 shares in the company, valued at approximately $8,842,615.76. The trade was a 8.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Hock E. Tan sold 40,000 shares of the business's stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $268.29, for a total value of $10,731,600.00. Following the transaction, the chief executive officer directly owned 482,836 shares in the company, valued at $129,540,070.44. The trade was a 7.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 830,516 shares of company stock valued at $217,286,457. Company insiders own 2.00% of the company's stock.
Analyst Upgrades and Downgrades
- With Shares Near Highs, Here's to Watch in Broadcom's Q3 Report
Several research analysts have recently weighed in on AVGO shares. UBS Group upped their price objective on Broadcom from $290.00 to $345.00 and gave the stock a "buy" rating in a research report on Monday, August 25th. Oppenheimer restated an "outperform" rating and issued a $325.00 target price (up previously from $305.00) on shares of Broadcom in a research note on Thursday, August 28th. Bank of America raised their price target on shares of Broadcom from $240.00 to $300.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Hsbc Global Res upgraded shares of Broadcom from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 24th. Finally, The Goldman Sachs Group restated a "buy" rating and set a $340.00 target price on shares of Broadcom in a report on Wednesday, August 13th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Broadcom currently has a consensus rating of "Buy" and a consensus price target of $304.17.
Read Our Latest Report on Broadcom
Broadcom Stock Performance
- AEHR Spikes 36% on Hyperscaler Order—Investors Should Take Notice
NASDAQ AVGO opened at $306.10 on Friday. The firm has a market capitalization of $1.44 trillion, a P/E ratio of 114.64, a price-to-earnings-growth ratio of 2.15 and a beta of 1.16. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. The firm's fifty day moving average price is $290.78 and its two-hundred day moving average price is $236.51. Broadcom Inc. has a 1 year low of $134.90 and a 1 year high of $317.35.
Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.03. The company had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. Broadcom's revenue for the quarter 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. As a group, research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.
Broadcom Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.8%. Broadcom's dividend payout ratio (DPR) is presently 88.39%.
About Broadcom
(Free Report)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.
Further Reading
- Five stocks we like better than Broadcom
- Which Wall Street Analysts are the Most Accurate?
- Affirm Crushes Earnings Expectations, Turns Bears into Believers
- What is the NASDAQ Stock Exchange?
- Analysts See Big Upside for These 3 Retail Stocks
- Unveiling The Power Of VWAP: A Key Indicator For Traders
- Buy the Dip? GitLab’s Bullish Case Outweighs the Bears
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Should You Invest $1,000 in Broadcom Right Now?
Before you consider Broadcom, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Broadcom wasn't on the list.
While Broadcom currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
