BTC Capital Management Inc. Sells 5,148 Shares of Broadcom Inc. $AVGO

Key Points

• BTC Capital Management Inc. reduced its stake in Broadcom Inc. by 4.0%, selling 5,148 shares, and now holds 123,079 shares valued at approximately $33.8 million.
• Insider sales have occurred recently, with CFO Kirsten M. Spears selling 7,498 shares and a total of 714,172 shares sold by insiders in the last 90 days, indicating a potential decline in insider confidence.
• Broadcom Inc. announced a quarterly dividend of $0.59 per share, representing a 0.7% yield, with the ex-dividend date on September 22nd.

BTC Capital Management Inc. decreased its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 123,079 shares of the semiconductor manufacturer's stock after selling 5,148 shares during the period. Broadcom makes up 2.8% of BTC Capital Management Inc.'s holdings, making the stock its 7th biggest holding. BTC Capital Management Inc.'s holdings in Broadcom were worth $33,849,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Orrstown Financial Services Inc. lifted its holdings in Broadcom by 32.4% in the second quarter. Orrstown Financial Services Inc. now owns 9,824 shares of the semiconductor manufacturer's stock valued at $2,708,000 after buying an additional 2,406 shares during the period. Bouvel Investment Partners LLC acquired a new position in Broadcom in the second quarter valued at $9,794,000. Hilltop Wealth Advisors LLC acquired a new position in Broadcom in the second quarter valued at $206,000. First PREMIER Bank lifted its holdings in Broadcom by 49.9% in the second quarter. First PREMIER Bank now owns 1,274 shares of the semiconductor manufacturer's stock valued at $352,000 after buying an additional 424 shares during the period. Finally, Abacus FCF Advisors LLC acquired a new position in shares of Broadcom during the second quarter valued at about $7,383,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Buying and Selling

In related news, insider Charlie B. Kawwas sold 3,893 shares of the firm'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 completion of the transaction, the insider directly owned 25,295 shares of the company's stock, valued at approximately $8,798,106.90. This trade represents a 13.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kirsten M. Spears sold 7,498 shares of the firm's stock in a transaction that occurred on Wednesday, September 17th. The stock was 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 directly owned 313,330 shares of the company's stock, valued at approximately $108,932,307.80. This trade represents a 2.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 3,550 shares of company stock worth $1,227,869 and sold 714,172 shares worth $204,311,160. Corporate insiders own 2.00% of the company's stock.

Broadcom Stock Down 1.8%

Broadcom stock opened at $338.79 on Tuesday. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $374.23. The firm has a 50 day moving average price of $309.32 and a 200-day moving average price of $249.20. The company has a market capitalization of $1.60 trillion, a P/E ratio of 86.43, a P/E/G ratio of 1.91 and a beta of 1.16. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, beating analysts' consensus estimates of $1.66 by $0.03. The firm had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The company's revenue was up 22.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. As a group, equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AVGO. Wells Fargo & Company upped their price objective on shares of Broadcom from $255.00 to $345.00 and gave the company an "equal weight" rating in a report on Friday, September 5th. Mizuho upped their price objective on shares of Broadcom from $355.00 to $410.00 and gave the company an "outperform" rating in a report on Friday, September 12th. Evercore ISI reiterated an "outperform" rating and set a $342.00 price objective (up previously from $304.00) on shares of Broadcom in a report on Thursday, September 4th. Cowen reiterated a "buy" rating on shares of Broadcom in a report on Friday, June 6th. Finally, Citigroup upped their price objective on shares of Broadcom from $315.00 to $350.00 and gave the company a "buy" rating in a report on Friday, September 5th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, Broadcom currently has a consensus rating of "Buy" and an average target price of $356.48.

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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