Broadcom Inc. $AVGO Shares Sold by Foster Victor Wealth Advisors LLC

Key Points

• Foster Victor Wealth Advisors LLC has reduced its holdings in Broadcom Inc. by 21.2%, now owning 61,555 shares, with a total value of $17,106,000.
• Broadcom's average rating from analysts has risen to "Buy", with target prices increasing significantly, some reaching $400.
• Insider activity shows significant sales, with Director Henry Samueli selling 368,797 shares and CEO Hock E. Tan selling 100,000 shares recently.

Foster Victor Wealth Advisors LLC decreased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 21.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 61,555 shares of the semiconductor manufacturer's stock after selling 16,580 shares during the period. Broadcom makes up about 1.2% of Foster Victor Wealth Advisors LLC's holdings, making the stock its 26th biggest position. Foster Victor Wealth Advisors LLC's holdings in Broadcom were worth $17,106,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. PARUS FINANCE UK Ltd lifted its stake in Broadcom by 175.3% in the 1st 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. lifted its stake in Broadcom by 27.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 64,130 shares of the semiconductor manufacturer's stock valued at $10,737,000 after buying an additional 13,978 shares in the last quarter. Keener Financial Planning LLC lifted its stake in shares of Broadcom by 34.8% during the 1st quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer's stock worth $149,000 after purchasing an additional 230 shares during the period. Diversify Wealth Management LLC lifted its stake in shares of Broadcom by 5.6% during the 1st quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer's stock worth $6,365,000 after purchasing an additional 2,016 shares during the period. Finally, Acorns Advisers LLC lifted its stake in shares of Broadcom by 24.3% during the 1st quarter. Acorns Advisers LLC now owns 4,184 shares of the semiconductor manufacturer's stock worth $701,000 after purchasing an additional 818 shares during the period. Hedge funds and other institutional investors own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AVGO shares. Wall Street Zen raised Broadcom from a "hold" rating to a "buy" rating in a research note on Saturday, September 6th. Sanford C. Bernstein increased their target price on Broadcom from $295.00 to $400.00 and gave the stock an "outperform" rating in a research report on Friday, September 5th. Cowen reaffirmed a "buy" rating on shares of Broadcom in a research report on Friday, June 6th. Citigroup increased their target price on Broadcom from $315.00 to $350.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Finally, KeyCorp increased their target price on Broadcom from $330.00 to $400.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $356.48.

Insider Buying and Selling at Broadcom

In other news, Director Henry Samueli sold 368,797 shares of Broadcom stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $337.91, for a total transaction of $124,620,194.27. Following the sale, the director directly owned 37,722,534 shares of the company's stock, valued at approximately $12,746,821,463.94. The trade was a 0.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 100,000 shares of Broadcom stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $339.58, for a total value of $33,958,000.00. Following the completion of the transaction, the chief executive officer owned 725,638 shares of the company's stock, valued at $246,412,152.04. This trade represents a 12.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders bought 3,550 shares of company stock valued at $1,227,869 and sold 666,071 shares valued at $225,623,008. 2.00% of the stock is owned by insiders.

Broadcom Stock Down 0.5%

Shares of NASDAQ AVGO opened at $334.53 on Friday. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $374.23. The firm has a market cap of $1.58 trillion, a price-to-earnings ratio of 85.34, a PEG ratio of 1.86 and a beta of 1.16. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. The stock's 50-day simple moving average is $313.66 and its 200-day simple moving average is $252.49.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.66 by $0.03. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The business had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. During the same period in the previous year, the company earned $1.24 earnings per share. The company'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. As a group, equities analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, September 22nd. Broadcom's payout ratio is presently 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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