Broadcom Inc. $AVGO Shares Sold by Monument Capital Management

Key Points

• Monument Capital Management reduced its stake in Broadcom by 41.9%, selling 7,621 shares and holding 10,556 shares worth approximately $2.91 million as of its latest SEC filing.
• Broadcom received several changes in analyst ratings and price targets, with prices set as high as $460.00 and a consensus target price of $372.33, indicating a general positive sentiment toward the stock.
• The semiconductor company recently declared a quarterly dividend of $0.59 per share, which reflects a 0.7% dividend yield and a payout ratio of 60.20%.

Monument Capital Management cut its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 41.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,556 shares of the semiconductor manufacturer's stock after selling 7,621 shares during the period. Monument Capital Management's holdings in Broadcom were worth $2,910,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Barnes Dennig Private Wealth Management LLC purchased a new stake in Broadcom during the first quarter worth about $25,000. Cheviot Value Management LLC purchased a new stake in Broadcom during the first quarter worth about $25,000. Inlight Wealth Management LLC purchased a new stake in Broadcom during the first quarter worth about $26,000. Sawyer & Company Inc increased its stake in Broadcom by 62.1% during the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock worth $26,000 after purchasing an additional 36 shares during the period. Finally, Legend Financial Advisors Inc. purchased a new stake in Broadcom during the second quarter worth about $28,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Weiss Ratings lowered shares of Broadcom from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, October 8th. Evercore ISI boosted their price target on shares of Broadcom from $342.00 to $403.00 and gave the stock an "outperform" rating in a research note on Wednesday. Mizuho set a $430.00 target price on shares of Broadcom in a research note on Monday. JPMorgan Chase & Co. upped their target price on shares of Broadcom from $325.00 to $400.00 and gave the stock an "overweight" rating in a research note on Friday, September 5th. Finally, KeyCorp set a $460.00 target price on shares of Broadcom in a research note on Monday. Three 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $372.33.

Broadcom Price Performance

AVGO stock opened at $351.33 on Thursday. The company has a market capitalization of $1.66 trillion, a P/E ratio of 89.63, a PEG ratio of 1.91 and a beta of 1.20. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $374.23. The business has a 50 day simple moving average of $325.83 and a 200-day simple moving average of $266.04. 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 (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $15.82 billion. During the same quarter in the prior year, the business earned $1.24 earnings per share. The company's quarterly revenue 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 EPS for the current year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were paid 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 is 60.20%.

Insider Buying and Selling at Broadcom

In other news, CFO Kirsten M. Spears sold 7,498 shares of the company's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the completion of the sale, the chief financial officer owned 313,330 shares in the company, valued at $108,932,307.80. This represents a 2.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Henry Samueli sold 368,797 shares of the company's stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $337.91, for a total value of $124,620,194.27. Following the sale, the director owned 37,722,534 shares of the company's stock, valued at $12,746,821,463.94. This trade represents a 0.97% decrease in their position. 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 664,471 shares valued at $225,184,128. 2.00% of the stock is owned by company insiders.

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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