Rep. Jefferson Shreve Acquires Broadcom Inc. (NASDAQ:AVGO) Stock

Representative Jefferson Shreve (R-Indiana) recently bought shares of Broadcom Inc. (NASDAQ:AVGO). In a filing disclosed on March 09th, the Representative disclosed that they had bought between $100,001 and $250,000 in Broadcom stock on February 24th.

Representative Jefferson Shreve also recently made the following trade(s):

• Purchased $15,001 – $50,000 in shares of RTX (NYSE:RTX) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Royal Gold (NASDAQ:RGLD) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of QUALCOMM (NASDAQ:QCOM) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Pfizer (NYSE:PFE) on 2/24/2025.
• Sold $15,001 – $50,000 in shares of Norfolk Southern (NYSE:NSC) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of CoStar Group (NASDAQ:CSGP) on 2/24/2025.
• Purchased $50,001 – $100,000 in shares of AbbVie (NYSE:ABBV) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Johnson & Johnson (NYSE:JNJ) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of The Cigna Group (NYSE:CI) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Adobe (NASDAQ:ADBE) on 2/24/2025.

Broadcom Trading Up 2.8 %

Broadcom stock traded up $5.17 during mid-day trading on Tuesday, hitting $189.62. The stock had a trading volume of 11,205,160 shares, compared to its average volume of 29,433,509. The stock has a market capitalization of $891.58 billion, a PE ratio of 154.69, a P/E/G ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The stock has a 50-day simple moving average of $221.26 and a two-hundred day simple moving average of $193.28.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter in the previous year, the company earned $0.98 EPS. Broadcom’s revenue was up 51.2% on a year-over-year basis. As a group, sell-side analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Thursday, March 20th. Broadcom’s payout ratio is presently 113.46%.

Institutional Trading of Broadcom

Several hedge funds and other institutional investors have recently modified their holdings of AVGO. Central Pacific Bank Trust Division increased its stake in shares of Broadcom by 21.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock worth $4,858,000 after purchasing an additional 3,707 shares during the period. Wolff Financial Management LLC acquired a new stake in shares of Broadcom during the fourth quarter worth $244,000. Strait & Sound Wealth Management LLC boosted its position in shares of Broadcom by 829.8% in the third quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock valued at $1,371,000 after acquiring an additional 7,095 shares during the period. Motive Wealth Advisors increased its position in Broadcom by 1,076.5% during the fourth quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer’s stock worth $1,066,000 after acquiring an additional 4,209 shares during the period. Finally, Tidal Investments LLC raised its stake in Broadcom by 969.3% in the 3rd quarter. Tidal Investments LLC now owns 386,644 shares of the semiconductor manufacturer’s stock worth $66,696,000 after purchasing an additional 350,485 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Check Kian Low sold 48,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the sale, the director now directly owns 113,050 shares of the company’s stock, valued at $26,606,317.50. The trade was a 29.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the transaction, the director now owns 46,400 shares in the company, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock valued at $44,964,800 in the last quarter. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

AVGO has been the topic of several recent research reports. Citigroup raised their price target on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Morgan Stanley boosted their target price on Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday. Benchmark reaffirmed a “buy” rating and issued a $255.00 target price on shares of Broadcom in a research note on Friday. Bank of America upped their price objective on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Hsbc Global Res upgraded Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Three analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $231.48.

About Representative Shreve

Jefferson Shreve (Republican Party) is a member of the U.S. House, representing Indiana’s 6th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Shreve (Republican Party) is running for re-election to the U.S. House to represent Indiana’s 6th Congressional District. He declared candidacy for the 2026 election.

Email [email protected] to notify us of updates to this biography.
Jefferson Shreve earned a bachelor’s degree from Indiana University in 1989, a graduate degree from the University of London in 1998, and a graduate degree from Purdue University in 2003. Shreve’s career experience includes working as a real estate executive.

Shreve was elected 7th District Vice Chairman of the Indiana Republican State Committee on January 17, 2018, and was re-elected on March 6, 2021. In 2020, he was selected as a district-level delegate to the 2020 Republican National Convention.

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.