Broadcom Inc. $AVGO Stock Position Lifted by Cypress Wealth Services LLC

Key Points

• Cypress Wealth Services LLC increased its stake in Broadcom Inc. by 13.2%, owning 6,302 shares valued at approximately $1.74 million.
• Broadcom received several analyst upgrades, with Evercore ISI raising the target price from $342 to $403, while Citigroup increased their target from $350 to $415, maintaining a "buy" rating.
• The company reported a 22% year-over-year revenue increase, with $15.95 billion in revenue during the last quarter, surpassing analysts' expectations.

Cypress Wealth Services LLC boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 13.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,302 shares of the semiconductor manufacturer's stock after purchasing an additional 735 shares during the period. Cypress Wealth Services LLC's holdings in Broadcom were worth $1,737,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Innova Wealth Partners grew its position in Broadcom by 33.5% during the second quarter. Innova Wealth Partners now owns 2,052 shares of the semiconductor manufacturer's stock valued at $566,000 after purchasing an additional 515 shares in the last quarter. J.Safra Asset Management Corp grew its position in Broadcom by 12.3% during the second quarter. J.Safra Asset Management Corp now owns 11,991 shares of the semiconductor manufacturer's stock valued at $3,230,000 after purchasing an additional 1,315 shares in the last quarter. Courier Capital LLC grew its position in Broadcom by 18.0% during the second quarter. Courier Capital LLC now owns 6,486 shares of the semiconductor manufacturer's stock valued at $1,788,000 after purchasing an additional 990 shares in the last quarter. Sagespring Wealth Partners LLC grew its position in Broadcom by 16.7% during the second quarter. Sagespring Wealth Partners LLC now owns 85,291 shares of the semiconductor manufacturer's stock valued at $23,510,000 after purchasing an additional 12,196 shares in the last quarter. Finally, Equitable Trust Co. grew its position in Broadcom by 19.4% during the second quarter. Equitable Trust Co. now owns 58,944 shares of the semiconductor manufacturer's stock valued at $16,248,000 after purchasing an additional 9,575 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of research analyst reports. Weiss Ratings downgraded shares of Broadcom from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, October 8th. Evercore ISI boosted their target price on shares of Broadcom from $342.00 to $403.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 15th. Citigroup reissued a "buy" rating and issued a $415.00 target price (up from $350.00) on shares of Broadcom in a research report on Tuesday, October 14th. Arete Research raised shares of Broadcom to a "strong-buy" rating in a research report on Monday, July 28th. Finally, Hsbc Global Res raised shares of Broadcom from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, June 24th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $372.33.

Insiders Place Their Bets

In other news, Director Henry Samueli sold 368,797 shares of the business's stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $337.91, for a total value of $124,620,194.27. Following the completion of the sale, the director directly owned 37,722,534 shares in the company, valued at approximately $12,746,821,463.94. The trade was a 0.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 100,000 shares of the company's stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $339.58, for a total transaction of $33,958,000.00. Following the transaction, the chief executive officer owned 725,638 shares of the company's stock, valued at approximately $246,412,152.04. The trade was a 12.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders acquired 3,550 shares of company stock valued at $1,227,869 and sold 665,271 shares valued at $225,464,248. Corporate insiders own 2.00% of the company's stock.

Broadcom Price Performance

Shares of Broadcom stock opened at $349.24 on Tuesday. The firm has a fifty day simple moving average of $328.64 and a 200-day simple moving average of $271.47. 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 1-year low of $138.10 and a 1-year high of $374.23. The stock has a market capitalization of $1.65 trillion, a price-to-earnings ratio of 89.09, a PEG ratio of 1.97 and a beta of 1.20.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, topping 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 business had revenue of $15.95 billion during the quarter, compared to analysts' expectations of $15.82 billion. During the same period in the previous year, the company earned $1.24 earnings per share. Broadcom's revenue for the quarter was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. On average, sell-side analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were paid a $0.59 dividend. 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 payout ratio is presently 60.20%.

About Broadcom

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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