Centurion Wealth Management LLC Takes Position in Broadcom Inc. $AVGO
Centurion Wealth Management LLC acquired a new stake in Broadcom Inc. (NASDAQ:AVGO) during Q2, purchasing 1,766 shares valued at approximately $487,000. Other institutional investors have also increased their positions in Broadcom. Analysts have raised their price targets for AVGO, with Citigroup setting a target of $350 and Barclays at $400. Broadcom reported Q3 earnings of $1.69 EPS, exceeding estimates, and announced a quarterly dividend of $0.59. The stock has a market cap of $1.69 trillion and a P/E ratio of 91.80.
Centurion Wealth Management LLC acquired a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,766 shares of the semiconductor manufacturer's stock, valued at approximately $487,000.
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Other institutional investors have also modified their holdings of the company. Sunbeam Capital Management LLC acquired a new position in shares of Broadcom in the fourth quarter valued at approximately $28,000. Vermillion Wealth Management Inc. acquired a new position in shares of Broadcom in the fourth quarter valued at approximately $30,000. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Broadcom in the first quarter valued at approximately $25,000. Cheviot Value Management LLC acquired a new position in Broadcom during the first quarter worth approximately $25,000. Finally, Inlight Wealth Management LLC acquired a new position in Broadcom during the first quarter worth approximately $26,000. Institutional investors and hedge funds own 76.43% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on AVGO shares. Citigroup upped their price target on shares of Broadcom from $315.00 to $350.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Rosenblatt Securities upped their price target on shares of Broadcom from $340.00 to $400.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Oppenheimer reaffirmed an "outperform" rating and set a $360.00 price target (up previously from $325.00) on shares of Broadcom in a research report on Friday, September 5th. Barclays upped their price target on shares of Broadcom from $265.00 to $400.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. Finally, KeyCorp upped their price target on shares of Broadcom from $330.00 to $400.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $354.04.
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View Our Latest Analysis on AVGO
Broadcom Price Performance
Broadcom stock opened at $359.87 on Friday. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $374.23. The firm has a fifty day moving average of $300.31 and a 200-day moving average of $242.19. The firm has a market capitalization of $1.69 trillion, a P/E ratio of 91.80, a PEG ratio of 1.99 and a beta of 1.16. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86.
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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 (EPS) for the quarter, topping the consensus estimate 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 net margin of 31.59% and a return on equity of 36.60%. The business's quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. As a group, analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.
Broadcom Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be paid a $0.59 dividend. The ex-dividend date is Monday, September 22nd. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Broadcom's dividend payout ratio is 60.20%.
Insiders Place Their Bets
In other news, CFO Kirsten M. Spears sold 56,310 shares of the company's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $251.75, for a total value of $14,176,042.50. Following the completion of the transaction, the chief financial officer directly owned 361,937 shares in the company, valued at approximately $91,117,639.75. This represents a 13.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Hock E. Tan sold 148,154 shares of the company's stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $336.67, for a total transaction of $49,879,007.18. Following the completion of the transaction, the chief executive officer owned 825,998 shares of the company's stock, valued at $278,088,746.66. This trade represents a 15.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders bought 3,550 shares of company stock valued at $1,227,869 and sold 850,912 shares valued at $234,854,489. 2.00% of the stock is owned by company insiders.
Broadcom Company Profile
(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.
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