Broadcom Inc. $AVGO Shares Sold by Worth Asset Management LLC

Key Points

• Worth Asset Management LLC significantly reduced its holdings in Broadcom Inc. by 53.3% during the second quarter, owning $1.79 million worth of shares at the end of the period.
• Broadcom has received positive analyst ratings, with Morgan Stanley increasing its price target from $338 to $357 and a consensus rating of "Buy" among investment analysts.
• CEO Hock E. Tan sold 148,154 shares at an average price of $336.67, marking a 15.21% decrease in his ownership stake in the company.

Worth Asset Management LLC decreased its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 53.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 6,494 shares of the semiconductor manufacturer's stock after selling 7,421 shares during the period. Broadcom comprises approximately 0.9% of Worth Asset Management LLC's portfolio, making the stock its 25th biggest holding. Worth Asset Management LLC's holdings in Broadcom were worth $1,790,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Sawyer & Company Inc raised its holdings in shares of Broadcom by 62.1% in the 2nd 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. Waddell & Associates LLC grew its position in shares of Broadcom by 2.1% in the 1st quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer's stock worth $350,000 after acquiring an additional 43 shares in the last quarter. Challenger Wealth Management grew its position in shares of Broadcom by 1.3% in the 1st quarter. Challenger Wealth Management now owns 3,504 shares of the semiconductor manufacturer's stock worth $587,000 after acquiring an additional 45 shares in the last quarter. High Net Worth Advisory Group LLC grew its position in shares of Broadcom by 1.7% in the 2nd quarter. High Net Worth Advisory Group LLC now owns 2,671 shares of the semiconductor manufacturer's stock worth $736,000 after acquiring an additional 45 shares in the last quarter. Finally, Wescott Financial Advisory Group LLC grew its position in shares of Broadcom by 3.8% in the 1st quarter. Wescott Financial Advisory Group LLC now owns 1,326 shares of the semiconductor manufacturer's stock worth $222,000 after acquiring an additional 48 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AVGO. Morgan Stanley boosted their price objective on Broadcom from $338.00 to $357.00 and gave the company an "overweight" rating in a research report on Tuesday, September 2nd. Sanford C. Bernstein lifted their target price on Broadcom from $295.00 to $400.00 and gave the company an "outperform" rating in a research note on Friday, September 5th. Cowen reaffirmed a "buy" rating on shares of Broadcom in a research note on Friday, June 6th. Susquehanna boosted their price objective on Broadcom from $280.00 to $300.00 and gave the stock a "positive" rating in a research note on Friday, June 6th. Finally, Piper Sandler boosted their price objective on Broadcom from $315.00 to $375.00 and gave the stock an "overweight" rating in a research note on Friday, September 5th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Broadcom presently has a consensus rating of "Buy" and an average price target of $356.48.

Insider Buying and Selling

In other news, CEO Hock E. Tan sold 148,154 shares of Broadcom stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $336.67, for a total value of $49,879,007.18. Following the completion of the sale, the chief executive officer directly owned 825,998 shares in the company, valued at approximately $278,088,746.66. The trade was a 15.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark David Brazeal sold 50,000 shares of the business'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 transaction of $12,664,000.00. Following the transaction, the insider owned 415,956 shares of the company's stock, valued at approximately $105,353,335.68. This represents a 10.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 3,550 shares of company stock worth $1,227,869 and have sold 840,522 shares worth $236,959,124. Corporate insiders own 2.00% of the company's stock.

Broadcom Trading Down 0.1%

Shares of AVGO opened at $344.94 on Friday. Broadcom Inc. has a 1 year low of $138.10 and a 1 year 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 stock has a 50 day simple moving average of $308.05 and a 200-day simple moving average of $247.33. The stock has a market cap of $1.63 trillion, a PE ratio of 87.99, a PEG ratio of 1.91 and a beta of 1.16.

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 analysts' consensus estimates of $1.66 by $0.03. The business had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.Broadcom's revenue for the quarter was up 22.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. On average, sell-side analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

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