Broadcom Inc. $AVGO Shares Sold by Ameriflex Group Inc.

Key Points

• Ameriflex Group Inc. significantly reduced its stake in Broadcom Inc. by 71.6% during the second quarter, resulting in ownership of just 5,526 shares valued at approximately $1.49 million.
• Broadcom reported strong quarterly earnings with $15.95 billion in revenue, a 22% year-over-year increase, and an EPS of $1.69, exceeding expectations.
• The stock has received positive ratings from analysts, with several firms raising price targets to as high as $400, while maintaining an overall average target price of $357.22.

Ameriflex Group Inc. cut its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 71.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,526 shares of the semiconductor manufacturer's stock after selling 13,898 shares during the quarter. Ameriflex Group Inc.'s holdings in Broadcom were worth $1,493,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. PARUS FINANCE UK Ltd increased its position 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 valued at $16,840,000 after buying an additional 64,038 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Broadcom by 27.9% during the first quarter. Geneos Wealth Management Inc. now owns 64,130 shares of the semiconductor manufacturer's stock valued at $10,737,000 after acquiring an additional 13,978 shares during the last quarter. Asio Capital LLC boosted its stake in shares of Broadcom by 2.0% during the second quarter. Asio Capital LLC now owns 54,459 shares of the semiconductor manufacturer's stock valued at $15,012,000 after acquiring an additional 1,089 shares during the last quarter. Keener Financial Planning LLC boosted its stake in shares of Broadcom by 34.8% during the first quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer's stock valued at $149,000 after acquiring an additional 230 shares during the last quarter. Finally, Diversify Wealth Management LLC boosted its stake in shares of Broadcom by 5.6% during the first quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer's stock valued at $6,365,000 after acquiring an additional 2,016 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Price Performance

AVGO stock opened at $345.50 on Thursday. 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 Inc. has a 52-week low of $138.10 and a 52-week high of $374.23. The stock's 50 day moving average is $320.89 and its two-hundred day moving average is $260.37. The company has a market capitalization of $1.63 trillion, a PE ratio of 88.14, a P/E/G ratio of 1.86 and a beta of 1.20.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, topping 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 company had revenue of $15.95 billion for the quarter, compared to the consensus estimate of $15.82 billion. During the same period in the previous year, the business earned $1.24 EPS. 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. Analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm 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 was Monday, September 22nd. This represents a $2.36 annualized dividend and a yield of 0.7%. Broadcom's payout ratio is currently 60.20%.

Analysts Set New Price Targets

AVGO has been the topic of a number of research analyst reports. UBS Group raised their price target on Broadcom from $290.00 to $345.00 and gave the stock a "buy" rating in a research note on Monday, August 25th. Sanford C. Bernstein raised their price target on Broadcom from $295.00 to $400.00 and gave the stock an "outperform" rating in a research note on Friday, September 5th. Barclays raised their price target on Broadcom from $265.00 to $400.00 and gave the stock an "overweight" rating in a research note on Friday, September 5th. Rosenblatt Securities lifted their price objective on Broadcom from $340.00 to $400.00 and gave the company a "buy" rating in a research note on Friday, September 5th. Finally, Weiss Ratings lowered Broadcom from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $357.22.

Insider Activity at Broadcom

In related news, CFO Kirsten M. Spears sold 7,498 shares of the company'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 transaction of $2,606,754.68. Following the sale, the chief financial officer directly owned 313,330 shares of the company's stock, valued at approximately $108,932,307.80. This represents a 2.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 100,000 shares of the company'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 sale, the chief executive officer directly owned 725,638 shares in the company, valued at approximately $246,412,152.04. This represents a 12.11% 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 666,071 shares worth $225,623,008. 2.00% of the stock is owned by company insiders.

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.

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