Broadcom Inc. $AVGO Stake Lowered by Sharp Financial Services LLC

Key Points

• Sharp Financial Services LLC reduced its stake in Broadcom Inc. by 21.2%, selling 1,037 shares, which now constitutes 0.7% of its portfolio.
• Broadcom's quarterly earnings report showed an EPS of $1.69, surpassing estimates, with a revenue increase of 22.0% year-over-year, totaling $15.95 billion.
• Several analysts have upgraded their price targets for Broadcom, with a consensus rating of "Buy" and an average price target of $372.33.

Sharp Financial Services LLC cut its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 21.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,856 shares of the semiconductor manufacturer's stock after selling 1,037 shares during the quarter. Broadcom makes up 0.7% of Sharp Financial Services LLC's portfolio, making the stock its 18th largest holding. Sharp Financial Services LLC's holdings in Broadcom were worth $1,063,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in AVGO. Sawyer & Company Inc boosted its position in shares of 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 buying an additional 36 shares during the period. Legend Financial Advisors Inc. acquired a new position in shares of Broadcom during the second quarter worth approximately $28,000. Maseco LLP acquired a new position in shares of Broadcom during the second quarter worth approximately $34,000. PFS Partners LLC boosted its position in shares of Broadcom by 38.4% during the second quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer's stock worth $38,000 after buying an additional 38 shares during the period. Finally, Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Broadcom during the first quarter worth approximately $25,000. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Performance

AVGO opened at $349.33 on Friday. The company has a market capitalization of $1.65 trillion, a price-to-earnings ratio of 89.11, a price-to-earnings-growth ratio of 1.97 and a beta of 1.20. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $374.23. The business has a 50 day moving average price of $327.73 and a two-hundred day moving average price of $269.24.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, beating 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 company had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.82 billion. During the same quarter in the prior year, the firm earned $1.24 EPS. 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. Research 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 was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were 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 was Monday, September 22nd. Broadcom's dividend payout ratio is 60.20%.

Insider Activity at Broadcom

In other news, Director Justine Page sold 800 shares of the stock in a transaction on Tuesday, October 14th. The stock was sold at an average price of $350.15, for a total transaction of $280,120.00. Following the completion of the sale, the director owned 22,182 shares in the company, valued at approximately $7,767,027.30. This represents a 3.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 16,558 shares of the stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total value of $5,755,726.38. Following the sale, the insider owned 329,302 shares of the company's stock, valued at $114,468,668.22. This trade represents a 4.79% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have acquired 3,550 shares of company stock worth $1,227,869 and have sold 665,271 shares worth $225,464,248. 2.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AVGO shares. Wells Fargo & Company boosted their price objective on Broadcom from $255.00 to $345.00 and gave the stock an "equal weight" rating in a research report on Friday, September 5th. Sanford C. Bernstein boosted 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. Oppenheimer reiterated an "outperform" rating and set a $360.00 price objective (up from $325.00) on shares of Broadcom in a research report on Friday, September 5th. Truist Financial boosted their price objective on Broadcom from $295.00 to $365.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Finally, Deutsche Bank Aktiengesellschaft set a $400.00 target price on Broadcom and gave the stock a "buy" rating in a research report on Tuesday. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $372.33.

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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