Broadcom Inc. $AVGO Shares Sold by Cardinal Capital Management Inc.

Key Points

• Cardinal Capital Management Inc. reduced its holdings in Broadcom Inc. by 8.7% in Q2, now owning 97,010 shares worth approximately $26.74 million.
• Oppenheimer and other analysts have set higher price targets for Broadcom, with Oppenheimer's new target at $360 and KeyCorp boosting it to $400.
• Broadcom announced a quarterly dividend of $0.59 per share, with a 0.7% yield, to be paid on September 30th to shareholders of record on September 22nd.

Cardinal Capital Management Inc. reduced its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 8.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 97,010 shares of the semiconductor manufacturer's stock after selling 9,245 shares during the period. Cardinal Capital Management Inc.'s holdings in Broadcom were worth $26,741,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of AVGO. Barnes Dennig Private Wealth Management LLC bought a new position in Broadcom in the first quarter valued at approximately $25,000. Cheviot Value Management LLC acquired a new position in Broadcom in the first quarter valued at $25,000. Inlight Wealth Management LLC acquired a new position in shares of Broadcom during the first quarter valued at about $26,000. Sawyer & Company Inc raised its holdings in shares of Broadcom by 62.1% during the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock valued at $26,000 after purchasing an additional 36 shares during the period. Finally, Vermillion Wealth Management Inc. acquired a new stake in shares of Broadcom in the 4th quarter worth about $30,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Price Performance

Broadcom stock traded down $6.15 during mid-day trading on Monday, reaching $338.79. 28,599,739 shares of the company's stock traded hands, compared to its average volume of 29,009,098. The company has a market cap of $1.60 trillion, a price-to-earnings ratio of 86.43, a PEG ratio of 1.91 and a beta of 1.16. The stock has a 50 day moving average of $309.32 and a two-hundred day moving average of $249.20. 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 Inc. has a 12-month low of $138.10 and a 12-month high of $374.23.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.03. The business had revenue of $15.95 billion for 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 business's revenue for the quarter was up 22.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. Equities analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AVGO. Erste Group Bank raised shares of Broadcom from a "hold" rating to a "buy" rating in a research report on Thursday, June 5th. Wall Street Zen upgraded shares of Broadcom from a "hold" rating to a "buy" rating in a research note on Saturday, September 6th. UBS Group raised their price objective on shares of Broadcom from $290.00 to $345.00 and gave the company a "buy" rating in a research report on Monday, August 25th. Citigroup increased their target price on shares of Broadcom from $315.00 to $350.00 and gave the company a "buy" rating in a report on Friday, September 5th. Finally, Cowen restated a "buy" rating on shares of Broadcom in a research report on Friday, June 6th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Broadcom presently has an average rating of "Buy" and a consensus price target of $356.48.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 16,558 shares of the firm's stock in a transaction dated 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 directly owned 329,302 shares in the company, valued at approximately $114,468,668.22. This trade represents a 4.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Justine Page sold 800 shares of Broadcom stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $360.00, for a total transaction of $288,000.00. Following the completion of the sale, the director owned 22,982 shares of the company's stock, valued at $8,273,520. This trade represents a 3.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 3,550 shares of company stock worth $1,227,869 and sold 790,522 shares worth $224,295,124. 2.00% of the stock is currently owned by corporate insiders.

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.