Broadcom Inc. $AVGO Shares Sold by Cigna Investments Inc. New

Cigna Investments Inc. New lowered its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,186 shares of the semiconductor manufacturer's stock after selling 837 shares during the quarter. Broadcom makes up approximately 2.1% of Cigna Investments Inc. New's investment portfolio, making the stock its 7th largest position. Cigna Investments Inc. New's holdings in Broadcom were worth $12,455,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC boosted its position in Broadcom by 21.8% in the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock valued at $6,882,000 after buying an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of Broadcom by 10.4% in the 4th 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 last quarter. Fire Capital Management LLC acquired a new stake in shares of Broadcom during the 4th quarter valued at $1,490,000. Milestone Asset Management Group LLC bought a new stake in Broadcom during the 4th quarter worth $581,000. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in Broadcom by 9.5% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 206,671 shares of the semiconductor manufacturer's stock worth $34,603,000 after purchasing an additional 17,973 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Hock E. Tan sold 148,154 shares of the business's stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $336.67, for a total transaction of $49,879,007.18. Following the transaction, the chief executive officer owned 825,998 shares in the company, valued at $278,088,746.66. The trade was a 15.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Harry L. You bought 2,050 shares of the business's stock in a transaction that occurred on Monday, September 8th. The shares were bought at an average cost of $344.78 per share, for a total transaction of $706,799.00. Following the completion of the purchase, the director owned 34,102 shares of the company's stock, valued at $11,757,687.56. This represents a 6.40% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders purchased 3,550 shares of company stock worth $1,227,869 and sold 297,274 shares worth $101,002,814. 2.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently commented on AVGO. Benchmark lifted their target price on shares of Broadcom from $315.00 to $385.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Cantor Fitzgerald reiterated an "overweight" rating and set a $300.00 price target on shares of Broadcom in a report on Friday, June 6th. KeyCorp boosted their price objective on shares of Broadcom from $330.00 to $400.00 and gave the stock an "overweight" rating in a research note on Friday, September 5th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $340.00 target price on shares of Broadcom in a research report on Wednesday, August 13th. Finally, Hsbc Global Res upgraded Broadcom from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, June 24th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $356.48.

Broadcom Stock Performance

Shares of AVGO opened at $336.10 on Friday. 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 stock has a market capitalization of $1.59 trillion, a P/E ratio of 85.74, a price-to-earnings-growth ratio of 1.88 and a beta of 1.16. The firm's fifty day simple moving average is $312.64 and its two-hundred day simple moving average is $251.49. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $374.23.

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 for the quarter, topping the consensus estimate of $1.66 by $0.03. The firm had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The business's quarterly revenue was up 22.0% on a year-over-year basis. During the same period last year, the company posted $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. As a group, analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

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

Broadcom 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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