CHURCHILL MANAGEMENT Corp Has $79.35 Million Stake in Broadcom Inc. $AVGO

Key Points

• CHURCHILL MANAGEMENT Corp has reduced its stake in Broadcom Inc. by 3.2%, holding 287,866 shares valued at approximately $79.35 million, making up about 0.9% of its portfolio.
• Insider activity includes notable sales by CEO Hock E. Tan and CFO Kirsten M. Spears, with total shares sold amounting to over $52 million between them.
• Broadcom reported better-than-expected earnings for the last quarter, with earnings per share of $1.69, surpassing estimates and showing a 22% year-over-year revenue increase.

CHURCHILL MANAGEMENT Corp reduced its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 287,866 shares of the semiconductor manufacturer's stock after selling 9,393 shares during the quarter. Broadcom makes up about 0.9% of CHURCHILL MANAGEMENT Corp's portfolio, making the stock its 20th largest position. CHURCHILL MANAGEMENT Corp's holdings in Broadcom were worth $79,350,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of AVGO. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Broadcom in the 1st quarter worth about $25,000. Cheviot Value Management LLC bought a new stake in shares of Broadcom during the 1st quarter valued at about $25,000. Inlight Wealth Management LLC acquired a new stake in Broadcom during the first quarter worth approximately $26,000. Sawyer & Company Inc increased its holdings in Broadcom by 62.1% in the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock worth $26,000 after purchasing an additional 36 shares in the last quarter. Finally, Legend Financial Advisors Inc. bought a new stake in Broadcom in the second quarter worth approximately $28,000. Institutional investors own 76.43% of the company's stock.

Insider Activity at Broadcom

In related news, CFO Kirsten M. Spears sold 7,498 shares of the stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total value of $2,606,754.68. Following the completion of the sale, the chief financial officer directly owned 313,330 shares of the company's stock, valued at approximately $108,932,307.80. This represents a 2.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 148,154 shares of the firm's stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $336.67, for a total value of $49,879,007.18. Following the transaction, the chief executive officer owned 825,998 shares in the company, valued at approximately $278,088,746.66. This trade represents a 15.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 3,550 shares of company stock valued at $1,227,869 and have sold 666,071 shares valued at $225,623,008. Corporate insiders own 2.00% of the company's stock.

Broadcom Stock Down 0.9%

Broadcom stock opened at $335.49 on Tuesday. The firm has a market capitalization of $1.58 trillion, a price-to-earnings ratio of 85.58, a price-to-earnings-growth ratio of 1.87 and a beta of 1.20. The firm's fifty day moving average price is $319.25 and its two-hundred day moving average price is $259.24. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $374.23. 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 (NASDAQ:AVGO - Get Free Report) last posted its earnings results 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 company had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. During the same quarter in the prior year, the business posted $1.24 EPS. The firm's revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. On average, equities research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were issued 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 dividend payout ratio (DPR) is currently 60.20%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft increased their price target on Broadcom from $300.00 to $350.00 and gave the stock a "buy" rating in a report on Friday, September 5th. The Goldman Sachs Group reissued a "buy" rating and set a $340.00 target price on shares of Broadcom in a research note on Wednesday, August 13th. Morgan Stanley raised their price target on shares of Broadcom from $338.00 to $357.00 and gave the stock an "overweight" rating in a report on Tuesday, September 2nd. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Broadcom in a research note on Saturday, September 27th. Finally, Mizuho increased their price objective on shares of Broadcom from $355.00 to $410.00 and gave the stock an "outperform" rating in a research report on Friday, September 12th. Three investment analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $357.22.

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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