Allspring Global Investments Holdings LLC Cuts Holdings in Broadcom Inc. $AVGO

Key Points

• Allspring Global Investments Holdings LLC has reduced its stake in Broadcom Inc. by 1.0%, now owning approximately 2,772,201 shares valued at around $733.9 million.
• Broadcom reported a quarterly earnings per share (EPS) of $1.69, exceeding analyst expectations, with revenues reaching $15.95 billion, representing a 22.0% year-over-year increase.
• Several analysts have set new price targets for Broadcom, with Bank of America increasing its target to $400, reflecting growing confidence in the company's performance and potential.

Allspring Global Investments Holdings LLC lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,772,201 shares of the semiconductor manufacturer's stock after selling 28,732 shares during the quarter. Broadcom accounts for 1.2% of Allspring Global Investments Holdings LLC's holdings, making the stock its 6th biggest holding. Allspring Global Investments Holdings LLC owned approximately 0.06% of Broadcom worth $733,913,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the stock. Sawyer & Company Inc increased its position in shares of Broadcom by 62.1% during the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock valued at $26,000 after purchasing an additional 36 shares during the last quarter. PFS Partners LLC grew its position in Broadcom by 38.4% in the 2nd quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer's stock valued at $38,000 after acquiring an additional 38 shares during the last quarter. Costello Asset Management INC grew its position in Broadcom by 1.5% in the 2nd quarter. Costello Asset Management INC now owns 2,528 shares of the semiconductor manufacturer's stock valued at $697,000 after acquiring an additional 38 shares during the last quarter. Waddell & Associates LLC grew its position in Broadcom by 2.1% in the 1st quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer's stock valued at $350,000 after acquiring an additional 43 shares during the last quarter. Finally, Luts & Greenleigh Group Inc. grew its position in Broadcom by 1.3% in the 2nd quarter. Luts & Greenleigh Group Inc. now owns 3,405 shares of the semiconductor manufacturer's stock valued at $939,000 after acquiring an additional 44 shares during the last quarter. Institutional investors own 76.43% of the company's stock.

Broadcom Price Performance

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 has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. The business's fifty day simple moving average is $327.73 and its 200-day simple moving average is $269.24. The company has a market capitalization of $1.65 trillion, a price-to-earnings ratio of 89.11, a PEG ratio of 1.97 and a beta of 1.20.

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

Broadcom Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Bank of America upped their price objective on Broadcom from $300.00 to $400.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Mizuho set a $430.00 price objective on Broadcom in a research report on Monday, October 13th. Barclays set a $450.00 price objective on Broadcom and gave the company an "overweight" rating in a research report on Tuesday. Citigroup reaffirmed a "buy" rating and issued a $415.00 price objective (up previously from $350.00) on shares of Broadcom in a research report on Tuesday. Finally, Argus increased their price target on Broadcom from $285.00 to $375.00 and gave the stock a "buy" rating in a research report on Monday, September 8th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Broadcom has an average rating of "Buy" and an average price target of $372.33.

Insider Activity

In related news, insider Mark David Brazeal sold 16,558 shares of the company's 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 sale, the insider directly owned 329,302 shares in the company, valued at $114,468,668.22. This represents a 4.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Henry Samueli sold 368,797 shares of the company's stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $337.91, for a total value of $124,620,194.27. Following the sale, the director owned 37,722,534 shares of the company's stock, valued at $12,746,821,463.94. This trade represents a 0.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 3,550 shares of company stock worth $1,227,869 and sold 665,271 shares worth $225,464,248. Company insiders own 2.00% of the company's stock.

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.

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