Advocate Group LLC Has $6.47 Million Holdings in Broadcom Inc. $AVGO

Key Points

• Advocate Group LLC has reduced its stake in Broadcom Inc. by 3.8% in the second quarter, holding $6.47 million in shares after selling 937 shares.
• Recent analysts' ratings for Broadcom show a range of target prices, with Sanford C. Bernstein and Rosenblatt Securities both raising their price targets to $400.
• Broadcom reported a 22.0% increase in revenue year-over-year, with quarterly earnings of $1.69 EPS surpassing analyst expectations.

Advocate Group LLC reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,471 shares of the semiconductor manufacturer's stock after selling 937 shares during the quarter. Advocate Group LLC's holdings in Broadcom were worth $6,470,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. OFI Invest Asset Management raised its stake in shares of Broadcom by 5.1% in the 2nd quarter. OFI Invest Asset Management now owns 584,331 shares of the semiconductor manufacturer's stock valued at $161,071,000 after buying an additional 28,276 shares in the last quarter. Lodestar Private Asset Management LLC raised its stake in shares of Broadcom by 3.2% in the 2nd quarter. Lodestar Private Asset Management LLC now owns 1,460 shares of the semiconductor manufacturer's stock valued at $402,000 after buying an additional 45 shares in the last quarter. Ackerman Capital Advisors LLC acquired a new position in shares of Broadcom in the 2nd quarter valued at $218,000. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. raised its stake in shares of Broadcom by 468.4% in the 2nd quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. now owns 150,326 shares of the semiconductor manufacturer's stock valued at $41,437,000 after buying an additional 123,879 shares in the last quarter. Finally, Means Investment CO. Inc. raised its stake in shares of Broadcom by 18.4% in the 2nd quarter. Means Investment CO. Inc. now owns 20,555 shares of the semiconductor manufacturer's stock valued at $5,666,000 after buying an additional 3,194 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AVGO has been the subject of a number of recent research reports. Sanford C. Bernstein increased their price objective on shares of Broadcom from $295.00 to $400.00 and gave the company an "outperform" rating in a research note on Friday, September 5th. Rosenblatt Securities increased their price objective on shares of Broadcom from $340.00 to $400.00 and gave the company a "buy" rating in a research note on Friday, September 5th. Mizuho set a $430.00 target price on shares of Broadcom in a report on Monday, October 13th. Weiss Ratings lowered shares of Broadcom from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, October 8th. Finally, Arete Research raised shares of Broadcom to a "strong-buy" rating in a report on Monday, July 28th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $372.33.

Broadcom Stock Down 1.4%

Shares of NASDAQ:AVGO opened at $349.33 on Friday. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $374.23. The company's 50-day moving average price is $327.73 and its two-hundred day moving average price is $269.24. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86. The firm has a market cap of $1.65 trillion, a P/E ratio of 89.11, a P/E/G ratio of 1.97 and a beta of 1.20.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping analysts' consensus estimates of $1.66 by $0.03. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The firm had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. During the same quarter in the prior year, the firm earned $1.24 EPS. The company's revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. As a group, research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

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

Insider Activity

In other Broadcom news, insider Mark David Brazeal sold 16,558 shares of the stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the sale, the insider owned 329,302 shares of the company's stock, valued at $114,468,668.22. This represents a 4.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Justine Page sold 800 shares of the stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $350.15, for a total transaction of $280,120.00. Following the sale, the director directly owned 22,182 shares in the company, valued at approximately $7,767,027.30. This represents a 3.48% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 3,550 shares of company stock worth $1,227,869 and have sold 665,271 shares worth $225,464,248. Insiders own 2.00% of the company's stock.

Broadcom 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.

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