Broadcom Inc. $AVGO Shares Sold by AMF Tjanstepension AB

Key Points

• AMF Tjanstepension AB has reduced its stake in Broadcom Inc. by 32.4%, selling 275,325 shares during the second quarter, leaving it with 574,883 shares valued at approximately $158.5 million.
• Broadcom reported $1.69 earnings per share for the last quarter, exceeding analysts' expectations, with a revenue of $15.95 billion, up 22% year-over-year.
• The company's recently announced quarterly dividend of $0.59 per share results in a 0.7% yield, with a payout ratio of 60.2%.

AMF Tjanstepension AB decreased its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 32.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 574,883 shares of the semiconductor manufacturer's stock after selling 275,325 shares during the quarter. Broadcom accounts for approximately 1.1% of AMF Tjanstepension AB's holdings, making the stock its 23rd largest position. AMF Tjanstepension AB's holdings in Broadcom were worth $158,496,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of AVGO. Brighton Jones LLC raised its position in shares of Broadcom by 21.8% during the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock worth $6,882,000 after buying an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in shares of Broadcom by 10.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock valued at $1,854,000 after acquiring an additional 756 shares during the period. GAMMA Investing LLC increased its stake in shares of Broadcom by 9.2% during the first quarter. GAMMA Investing LLC now owns 103,184 shares of the semiconductor manufacturer's stock valued at $17,276,000 after acquiring an additional 8,672 shares during the period. Sanibel Captiva Trust Company Inc. raised its holdings in Broadcom by 1.4% during the first quarter. Sanibel Captiva Trust Company Inc. now owns 96,877 shares of the semiconductor manufacturer's stock worth $16,220,000 after purchasing an additional 1,325 shares in the last quarter. Finally, Petredis Investment Advisors LLC lifted its position in Broadcom by 2.0% in the first quarter. Petredis Investment Advisors LLC now owns 60,162 shares of the semiconductor manufacturer's stock worth $10,073,000 after purchasing an additional 1,156 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Broadcom Price Performance

AVGO stock opened at $345.50 on Thursday. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. Broadcom Inc. has a one year low of $138.10 and a one year high of $374.23. The firm 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. The firm has a 50-day moving average of $320.89 and a two-hundred day moving average of $260.37.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, topping the consensus estimate 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 last year, the firm posted $1.24 earnings per share. The firm's quarterly revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. On average, analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

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

Wall Street Analyst Weigh In

AVGO has been the topic of several research analyst reports. Morgan Stanley lifted their price target on Broadcom from $338.00 to $357.00 and gave the company an "overweight" rating in a research report on Tuesday, September 2nd. Citigroup lifted their target price on Broadcom from $315.00 to $350.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Piper Sandler upped 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. Weiss Ratings lowered shares of Broadcom from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday. Finally, Bank of America boosted their target price on shares of Broadcom from $300.00 to $400.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $357.22.

Insider Buying and Selling

In other news, insider Charlie B. Kawwas sold 3,893 shares of the firm's stock in a transaction 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 of the company's stock, valued at $8,798,106.90. This trade represents a 13.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Mark David Brazeal sold 16,558 shares of the company's stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total value of $5,755,726.38. Following the transaction, the insider directly owned 329,302 shares in the company, valued at $114,468,668.22. The trade was a 4.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, 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.

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.

Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.