Catalina Capital Group LLC Sells 2,096 Shares of Broadcom Inc. $AVGO

Key Points

• Catalina Capital Group LLC reduced its stake in Broadcom Inc. by 32.8%, selling 2,096 shares, which now represent about 0.8% of its portfolio, valued at approximately $1,181,000.
• Analysts have significantly raised their price targets for Broadcom, with Barclays and Bank of America targeting $400, while Truist Financial increased its target to $365, indicating strong market confidence.
• Broadcom recently reported quarterly earnings of $1.69 per share, surpassing expectations, with revenues reaching $15.95 billion, a year-over-year increase of 22.0%.

Catalina Capital Group LLC lowered its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 32.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,286 shares of the semiconductor manufacturer's stock after selling 2,096 shares during the period. Broadcom comprises about 0.8% of Catalina Capital Group LLC's portfolio, making the stock its 27th largest position. Catalina Capital Group LLC's holdings in Broadcom were worth $1,181,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Broadcom by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer's stock worth $79,900,968,000 after buying an additional 2,085,534 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Broadcom by 37.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer's stock worth $10,968,270,000 after acquiring an additional 17,985,046 shares during the period. Nuveen LLC purchased a new position in Broadcom in the first quarter worth $6,649,117,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Broadcom by 2.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 35,243,467 shares of the semiconductor manufacturer's stock valued at $5,900,814,000 after purchasing an additional 842,088 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Broadcom by 3.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,852,310 shares of the semiconductor manufacturer's stock valued at $5,668,134,000 after purchasing an additional 1,043,948 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Truist Financial boosted their price target on shares of Broadcom from $295.00 to $365.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Wall Street Zen upgraded Broadcom from a "hold" rating to a "buy" rating in a research note on Saturday, September 6th. Barclays increased their target price on shares of Broadcom from $265.00 to $400.00 and gave the stock an "overweight" rating 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. Finally, Hsbc Global Res raised Broadcom from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 24th. Three investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $357.22.

Broadcom Stock Down 0.9%

Shares of NASDAQ:AVGO opened at $335.49 on Tuesday. The firm has a market capitalization of $1.58 trillion, a PE ratio of 85.58, a price-to-earnings-growth ratio of 1.87 and a beta of 1.20. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $374.23. The firm has a fifty day moving average of $319.25 and a 200 day moving average of $259.24.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly 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. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The business had revenue of $15.95 billion for the quarter, compared to the consensus estimate of $15.82 billion. During the same quarter last year, the business posted $1.24 earnings per share. The company's revenue for the quarter was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. As a group, research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

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

Insider Buying and Selling at Broadcom

In related news, CEO Hock E. Tan sold 148,154 shares of the stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $336.67, for a total transaction of $49,879,007.18. Following the transaction, the chief executive officer owned 825,998 shares of the company's stock, valued at approximately $278,088,746.66. This trade represents a 15.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Henry Samueli sold 368,797 shares of the business's stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $337.91, for a total transaction of $124,620,194.27. Following the completion of the sale, the director directly owned 37,722,534 shares of the company's stock, valued at $12,746,821,463.94. This represents a 0.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders purchased 3,550 shares of company stock valued at $1,227,869 and sold 666,071 shares valued at $225,623,008. Insiders own 2.00% of the company's stock.

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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