Broadcom Inc. $AVGO Shares Sold by Elite Wealth Management Inc.

Key Points

• Elite Wealth Management Inc. reduced its holdings in Broadcom by 88.9%, leaving them with 3,879 shares, which represent about 0.4% of their investment portfolio.
• Broadcom received several buy ratings from research firms, with price targets ranging from $385.00 to $420.00, reflecting strong confidence in the company's growth.
• In the latest quarter, insiders sold a substantial amount of stock, with CEO Hock E. Tan selling 100,000 shares for nearly $34 million, raising concerns regarding insider sentiment.

Elite Wealth Management Inc. lessened its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 88.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,879 shares of the semiconductor manufacturer's stock after selling 31,023 shares during the quarter. Broadcom makes up about 0.4% of Elite Wealth Management Inc.'s investment portfolio, making the stock its 19th largest holding. Elite Wealth Management Inc.'s holdings in Broadcom were worth $1,069,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Broadcom in the 1st quarter valued at about $25,000. Cheviot Value Management LLC acquired a new position in Broadcom in the first quarter valued at approximately $25,000. Inlight Wealth Management LLC acquired a new position in Broadcom in the first quarter valued at approximately $26,000. Sawyer & Company Inc boosted its position in Broadcom by 62.1% during the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock valued at $26,000 after purchasing an additional 36 shares during the period. Finally, Legend Financial Advisors Inc. acquired a new position in Broadcom during the 2nd quarter valued at approximately $28,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on AVGO. Deutsche Bank Aktiengesellschaft set a $400.00 price objective on Broadcom and gave the company a "buy" rating in a research report on Tuesday. Macquarie began coverage on shares of Broadcom in a report on Monday, September 15th. They set an "outperform" rating and a $420.00 price target for the company. HSBC raised shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 target price for the company in a research note on Tuesday, June 24th. Benchmark boosted their target price on shares of Broadcom from $315.00 to $385.00 and gave the company a "buy" rating in a research note on Friday, September 5th. Finally, Rosenblatt Securities boosted their target price on shares of Broadcom from $340.00 to $400.00 and gave the company a "buy" rating in a research note on Friday, September 5th. Three equities research 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's stock. According to MarketBeat.com, Broadcom presently has an average rating of "Buy" and an average price target of $372.33.

Insider Buying and Selling at Broadcom

In related news, insider Charlie B. Kawwas sold 3,893 shares of the firm'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 transaction, the insider directly owned 25,295 shares of the company's stock, valued at approximately $8,798,106.90. This trade represents a 13.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Hock E. Tan sold 100,000 shares of Broadcom stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $339.58, for a total transaction of $33,958,000.00. Following the completion of the transaction, the chief executive officer owned 725,638 shares in the company, valued at $246,412,152.04. This trade represents a 12.11% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders bought 3,550 shares of company stock valued at $1,227,869 and sold 664,471 shares valued at $225,184,128. 2.00% of the stock is currently owned by insiders.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $351.33 on Thursday. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $374.23. 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 company has a market capitalization of $1.66 trillion, a price-to-earnings ratio of 89.63, a PEG ratio of 1.91 and a beta of 1.20. The firm has a 50-day moving average of $325.83 and a two-hundred day moving average of $266.04.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $15.82 billion. During the same period in the prior year, the business earned $1.24 earnings per share. The business's quarterly revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. As a group, analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

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