Broadcom Inc. $AVGO Stock Position Cut by Grimes & Company Inc.

Key Points

• Grimes & Company Inc. has reduced its stake in Broadcom by 9.6%, now owning 76,188 shares valued at approximately $21 million after selling 8,082 shares.
• Analysts have recently increased their price targets for Broadcom, with Bank of America raising its target from $300 to $400 and Piper Sandler adjusting to $375, reflecting a generally positive outlook on the company's performance.
• Broadcom recently announced a quarterly dividend of $0.59, resulting in an annualized yield of 0.7%, with a current dividend payout ratio of 60.20%.

Grimes & Company Inc. lessened its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 9.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 76,188 shares of the semiconductor manufacturer's stock after selling 8,082 shares during the period. Grimes & Company Inc.'s holdings in Broadcom were worth $21,001,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Sawyer & Company Inc grew its position in Broadcom by 62.1% in the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock valued at $26,000 after buying an additional 36 shares in the last quarter. PFS Partners LLC grew its position in Broadcom by 38.4% in the 2nd quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer's stock valued at $38,000 after buying an additional 38 shares in the last quarter. Waddell & Associates LLC grew its position in Broadcom by 2.1% in the 1st quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer's stock valued at $350,000 after buying an additional 43 shares in the last quarter. Luts & Greenleigh Group Inc. grew its position in Broadcom by 1.3% in the 2nd quarter. Luts & Greenleigh Group Inc. now owns 3,405 shares of the semiconductor manufacturer's stock valued at $939,000 after buying an additional 44 shares in the last quarter. Finally, Challenger Wealth Management boosted its position in shares of Broadcom by 1.3% during the 1st quarter. Challenger Wealth Management now owns 3,504 shares of the semiconductor manufacturer's stock valued at $587,000 after purchasing an additional 45 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Piper Sandler raised their price objective on shares of Broadcom from $315.00 to $375.00 and gave the company an "overweight" rating in a research report on Friday, September 5th. Oppenheimer restated an "outperform" rating and set a $360.00 price objective (up previously from $325.00) on shares of Broadcom in a research report on Friday, September 5th. Bank of America raised their price objective on shares of Broadcom from $300.00 to $400.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Hsbc Global Res upgraded shares of Broadcom from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, June 24th. Finally, Arete Research upgraded shares of Broadcom to a "strong-buy" rating in a research report on Monday, July 28th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $357.22.

Broadcom Price Performance

AVGO stock opened at $324.63 on Friday. 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 Inc. has a one year low of $138.10 and a one year high of $374.23. The firm has a market capitalization of $1.53 trillion, a PE ratio of 82.81, a P/E/G ratio of 1.91 and a beta of 1.20. The firm has a 50-day moving average of $322.64 and a two-hundred day moving average of $262.37.

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

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date was Monday, September 22nd. Broadcom's dividend payout ratio is currently 60.20%.

Insider Transactions at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 3,893 shares of the company's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total value of $1,354,063.26. Following the transaction, the insider owned 25,295 shares in the company, valued at approximately $8,798,106.90. This represents a 13.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kirsten M. Spears sold 7,498 shares of the company's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the completion of the transaction, the chief financial officer owned 313,330 shares in the company, valued at approximately $108,932,307.80. This represents a 2.34% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 3,550 shares of company stock worth $1,227,869 and have sold 666,071 shares worth $225,623,008. 2.00% of the stock is owned by corporate 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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