Broadcom Inc. $AVGO Shares Sold by FCG Investment Co

Key Points

• FCG Investment Co reduced its holdings in Broadcom Inc. by 7.8% during the second quarter, now owning 20,956 shares valued at approximately $5.78 million.
• Analysts have raised their price targets for Broadcom, with a consensus target of $356.48 and ratings showing a majority of analysts recommending a Buy.
• CEO Hock E. Tan sold 100,000 shares of Broadcom for over $33 million, representing a 12.11% decrease in his ownership, while the firm declared a quarterly dividend of $0.59.

FCG Investment Co lowered its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 7.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,956 shares of the semiconductor manufacturer's stock after selling 1,761 shares during the quarter. Broadcom accounts for about 3.0% of FCG Investment Co's investment portfolio, making the stock its 8th biggest holding. FCG Investment Co's holdings in Broadcom were worth $5,777,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of AVGO. Barnes Dennig Private Wealth Management LLC acquired a new position in Broadcom during the first quarter valued at approximately $25,000. Cheviot Value Management LLC acquired a new position in shares of Broadcom in the first quarter valued at approximately $25,000. Inlight Wealth Management LLC acquired a new position in shares of Broadcom in the first quarter valued at approximately $26,000. Sawyer & Company Inc boosted its holdings in shares of Broadcom by 62.1% in the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock valued at $26,000 after buying an additional 36 shares during the period. Finally, Legend Financial Advisors Inc. acquired a new position in shares of Broadcom in the second quarter valued at approximately $28,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on AVGO. UBS Group upped their price target on shares of Broadcom from $290.00 to $345.00 and gave the company a "buy" rating in a report on Monday, August 25th. Evercore ISI reiterated an "outperform" rating and issued a $342.00 price target (up previously from $304.00) on shares of Broadcom in a report on Thursday, September 4th. Bank of America upped their price target on shares of Broadcom from $300.00 to $400.00 and gave the company a "buy" rating in a report on Friday, September 5th. Macquarie initiated coverage on shares of Broadcom in a report on Monday, September 15th. They issued an "outperform" rating and a $420.00 price target for the company. Finally, Cowen restated a "buy" rating on shares of Broadcom in a report on Friday, June 6th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Broadcom presently has an average rating of "Buy" and a consensus price target of $356.48.

Insider Transactions at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 100,000 shares of the stock in a transaction 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 in the company, valued at $246,412,152.04. This trade represents a 12.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kirsten M. Spears sold 7,498 shares of the stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the completion of the transaction, the chief financial officer directly owned 313,330 shares in the company, valued at $108,932,307.80. The trade was a 2.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 3,550 shares of company stock valued at $1,227,869 and have sold 666,071 shares valued at $225,623,008. 2.00% of the stock is owned by insiders.

Broadcom Stock Performance

Shares of AVGO stock opened at $334.53 on Monday. The stock has a market cap of $1.58 trillion, a P/E ratio of 85.34, a P/E/G ratio of 1.85 and a beta of 1.16. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. The company has a fifty day moving average price of $313.66 and a two-hundred day moving average price of $253.32. Broadcom Inc. has a one year low of $138.10 and a one year high of $374.23.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, beating analysts' consensus estimates of $1.66 by $0.03. The firm had revenue of $15.95 billion during the quarter, compared to analysts' expectations of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The company's revenue for the quarter was up 22.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. As a group, 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 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 is Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Broadcom's dividend payout ratio (DPR) is currently 60.20%.

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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