Broadcom Inc. $AVGO Shares Sold by RDA Financial Network

Key Points

• RDA Financial Network has reduced its stake in Broadcom Inc. by 20.6%, holding 38,969 shares worth approximately $10.7 million after selling 10,103 shares in the second quarter.
• Broadcom's stock has received several upgrades from brokerages, with target prices raised to as much as $400 and a general consensus rating of "Buy" from analysts.
• The semiconductor manufacturer reported a 22% year-over-year revenue increase to $15.95 billion in its latest earnings release, surpassing analyst expectations.

RDA Financial Network cut its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 20.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,969 shares of the semiconductor manufacturer's stock after selling 10,103 shares during the quarter. Broadcom makes up 2.9% of RDA Financial Network's investment portfolio, making the stock its 4th biggest holding. RDA Financial Network's holdings in Broadcom were worth $10,742,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Trinity Financial Advisors LLC acquired a new stake in shares of Broadcom in the 2nd quarter valued at about $3,107,000. Arvest Investments Inc. acquired a new stake in shares of Broadcom in the 2nd quarter valued at about $1,464,000. TrueWealth Advisors LLC boosted its position in shares of Broadcom by 5.4% in the 2nd quarter. TrueWealth Advisors LLC now owns 2,110 shares of the semiconductor manufacturer's stock valued at $582,000 after purchasing an additional 109 shares during the period. McLean Asset Management Corp boosted its position in shares of Broadcom by 9.6% in the 2nd quarter. McLean Asset Management Corp now owns 3,013 shares of the semiconductor manufacturer's stock valued at $813,000 after purchasing an additional 265 shares during the period. Finally, Trust Co of the South boosted its position in shares of Broadcom by 1.6% in the 2nd quarter. Trust Co of the South now owns 4,082 shares of the semiconductor manufacturer's stock valued at $1,125,000 after purchasing an additional 66 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Broadcom

In related news, Director Henry Samueli sold 473,898 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total value of $125,739,356.34. Following the completion of the transaction, the director directly owned 38,188,575 shares of the company's stock, valued at $10,132,574,604.75. This trade represents a 1.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark David Brazeal sold 50,000 shares of the firm's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $253.28, for a total value of $12,664,000.00. Following the completion of the transaction, the insider directly owned 415,956 shares of the company's stock, valued at $105,353,335.68. The trade was a 10.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 3,550 shares of company stock worth $1,227,869 and sold 850,912 shares worth $234,854,489. Company insiders own 2.00% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on AVGO. Rosenblatt Securities upped their target price on Broadcom from $340.00 to $400.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Sanford C. Bernstein increased their price objective on Broadcom from $295.00 to $400.00 and gave the stock an "outperform" rating in a research report on Friday, September 5th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $340.00 price objective on shares of Broadcom in a research report on Wednesday, August 13th. Argus increased their price objective on Broadcom from $285.00 to $375.00 and gave the stock a "buy" rating in a research report on Monday, September 8th. Finally, Redburn Atlantic began coverage on Broadcom in a research report on Wednesday, May 28th. They set a "buy" rating and a $301.00 price objective for the company. Three analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Broadcom currently has an average rating of "Buy" and an average price target of $354.04.

Broadcom Stock Performance

Shares of AVGO stock opened at $359.87 on Friday. The company has a market cap of $1.69 trillion, a price-to-earnings ratio of 91.80, a price-to-earnings-growth ratio of 1.99 and a beta of 1.16. The stock has a 50 day simple moving average of $300.31 and a 200-day simple moving average of $242.19. Broadcom Inc. has a 12-month low of $138.10 and a 12-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.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued 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. The business had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The company's revenue for the quarter was up 22.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. On average, equities analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

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

Broadcom Company 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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