Boston Common Asset Management LLC Decreases Stake in Broadcom Inc. $AVGO

Key Points

• Boston Common Asset Management LLC reduced its stake in Broadcom Inc. by 6.5%, owning 148,541 shares valued at approximately $40.9 million, which constitutes about 1.1% of its investment portfolio.
• Broadcom reported Q3 earnings of $1.69 per share, surpassing estimates, with revenue up 22% year-over-year at $15.95 billion, while they also recently announced a quarterly dividend of $0.59.
• The stock received multiple upgraded price targets from analysts, ranging from $365 to $420, reflecting strong buy sentiment and a positive outlook for future performance.

Boston Common Asset Management LLC cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 6.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 148,541 shares of the semiconductor manufacturer's stock after selling 10,359 shares during the quarter. Broadcom makes up about 1.1% of Boston Common Asset Management LLC's investment portfolio, making the stock its 9th biggest position. Boston Common Asset Management LLC's holdings in Broadcom were worth $40,945,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of AVGO. PARUS FINANCE UK Ltd increased its holdings in shares of Broadcom by 175.3% in the first quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer's stock worth $16,840,000 after purchasing an additional 64,038 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Broadcom by 27.9% in the first quarter. Geneos Wealth Management Inc. now owns 64,130 shares of the semiconductor manufacturer's stock worth $10,737,000 after purchasing an additional 13,978 shares during the last quarter. Asio Capital LLC increased its holdings in shares of Broadcom by 2.0% in the second quarter. Asio Capital LLC now owns 54,459 shares of the semiconductor manufacturer's stock worth $15,012,000 after purchasing an additional 1,089 shares during the last quarter. Keener Financial Planning LLC increased its holdings in shares of Broadcom by 34.8% in the first quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer's stock worth $149,000 after purchasing an additional 230 shares during the last quarter. Finally, Diversify Wealth Management LLC increased its holdings in shares of Broadcom by 5.6% in the first quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer's stock worth $6,365,000 after purchasing an additional 2,016 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Down 0.1%

Shares of NASDAQ:AVGO opened at $345.02 on Friday. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $374.23. The business has a 50 day simple moving average of $321.92 and a two-hundred day simple moving average of $261.43. The firm has a market capitalization of $1.63 trillion, a PE ratio of 88.02, a price-to-earnings-growth ratio of 1.91 and a beta of 1.20. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.03. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The business had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. During the same quarter in the previous year, the business earned $1.24 earnings per share. The company'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 predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

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

Wall Street Analysts Forecast Growth

AVGO has been the subject of several recent research reports. Rosenblatt Securities lifted their price target on Broadcom from $340.00 to $400.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Bank of America lifted their price target on Broadcom from $300.00 to $400.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Truist Financial lifted their price target on Broadcom from $295.00 to $365.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Macquarie initiated coverage on Broadcom in a research report on Monday, September 15th. They issued an "outperform" rating and a $420.00 price target for the company. Finally, JPMorgan Chase & Co. lifted their price target on Broadcom from $325.00 to $400.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Broadcom presently has an average rating of "Buy" and a consensus price target of $357.22.

Insider Transactions at Broadcom

In related news, insider Charlie B. Kawwas sold 3,893 shares of the business's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total value of $1,354,063.26. Following the completion of the sale, the insider owned 25,295 shares in the company, valued at approximately $8,798,106.90. The trade was a 13.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hock E. Tan sold 100,000 shares of the business'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 value of $33,958,000.00. Following the completion of the sale, the chief executive officer owned 725,638 shares of the company's stock, valued at $246,412,152.04. The trade was a 12.11% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 3,550 shares of company stock valued at $1,227,869 and have sold 666,071 shares valued at $225,623,008. 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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