AMI Asset Management Corp Sells 12,867 Shares of Broadcom Inc. $AVGO

Key Points

• AMI Asset Management Corp has reduced its holdings in Broadcom by 5.3%, selling 12,867 shares, and now holds 228,763 shares valued at approximately $63 million.
• Institutional investors own 76.43% of Broadcom's stock, with significant recent purchases from firms like Nuveen LLC and Price T Rowe Associates Inc. MD, indicating strong interest in the company.
• Broadcom's recent quarterly earnings exceeded expectations, reporting $1.69 EPS and $15.95 billion in revenue, marking a 22.0% year-over-year increase.

AMI Asset Management Corp trimmed its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 5.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 228,763 shares of the semiconductor manufacturer's stock after selling 12,867 shares during the quarter. Broadcom accounts for about 3.6% of AMI Asset Management Corp's portfolio, making the stock its 7th biggest holding. AMI Asset Management Corp's holdings in Broadcom were worth $63,059,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Nuveen LLC acquired a new stake in shares of Broadcom during the 1st quarter valued at $6,649,117,000. Price T Rowe Associates Inc. MD raised its position in shares of Broadcom by 37.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer's stock worth $10,968,270,000 after purchasing an additional 17,985,046 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Broadcom by 16.7% during the first quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer's stock valued at $5,333,384,000 after purchasing an additional 4,550,647 shares during the last quarter. Deutsche Bank AG boosted its position 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. Finally, Alliancebernstein L.P. boosted its position in shares of Broadcom by 16.0% in the 1st quarter. Alliancebernstein L.P. now owns 29,513,814 shares of the semiconductor manufacturer's stock valued at $4,941,498,000 after purchasing an additional 4,077,910 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. UBS Group upped their price objective on shares of Broadcom from $290.00 to $345.00 and gave the company a "buy" rating in a research note on Monday, August 25th. Piper Sandler boosted their price target on shares of Broadcom from $315.00 to $375.00 and gave the company an "overweight" rating in a report on Friday, September 5th. TD Cowen raised their price objective on shares of Broadcom from $355.00 to $370.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Morgan Stanley boosted their target price on shares of Broadcom from $338.00 to $357.00 and gave the company an "overweight" rating in a research note on Tuesday, September 2nd. Finally, Barclays increased their target price on Broadcom from $265.00 to $400.00 and gave the company an "overweight" rating in a report on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Broadcom presently has an average rating of "Buy" and an average target price of $357.22.

Insider Buying and Selling at Broadcom

In related news, CFO Kirsten M. Spears sold 7,498 shares of the business's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total value of $2,606,754.68. Following the completion of the sale, the chief financial officer owned 313,330 shares of the company's stock, valued at approximately $108,932,307.80. The trade was a 2.34% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Hock E. Tan sold 100,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $339.58, for a total transaction of $33,958,000.00. Following the transaction, the chief executive officer directly owned 725,638 shares in the company, valued at approximately $246,412,152.04. The trade was a 12.11% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 3,550 shares of company stock worth $1,227,869 and sold 666,071 shares worth $225,623,008. Corporate insiders own 2.00% of the company's stock.

Broadcom Stock Down 0.9%

AVGO stock opened at $335.49 on Tuesday. The company has a 50 day moving average of $319.25 and a two-hundred day moving average of $259.24. The company has a market cap of $1.58 trillion, a price-to-earnings ratio of 85.58, a PEG ratio of 1.87 and a beta of 1.20. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $374.23. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86.

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 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 business had revenue of $15.95 billion for the quarter, compared to the consensus estimate of $15.82 billion. During the same period in the prior year, the business posted $1.24 earnings per share. Broadcom's revenue for the quarter was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. On average, equities analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were paid 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 dividend yield of 0.7%. Broadcom's dividend payout ratio (DPR) is 60.20%.

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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