Columbia Asset Management Sells 1,118,023 Shares of Broadcom Inc. $AVGO

Key Points

• Columbia Asset Management sold 1,118,023 shares of Broadcom Inc. during the 2nd quarter, reducing its holdings by 95.3%, leaving it with 55,155 shares valued at approximately $15.2 million.
• Insider activity included significant sales by Director Henry Samueli, who sold 368,797 shares for over $124 million, while additionally, 666,071 shares were sold by insiders in the last ninety days.
• Several equity analysts have recently re-evaluated Broadcom's stock, with target prices adjusted upward, highlighting a consensus rating of “Buy” and a target price of $357.22.

Columbia Asset Management reduced its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 95.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 55,155 shares of the semiconductor manufacturer's stock after selling 1,118,023 shares during the quarter. Broadcom comprises 3.0% of Columbia Asset Management's portfolio, making the stock its 6th biggest holding. Columbia Asset Management's holdings in Broadcom were worth $15,203,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Sawyer & Company Inc grew its position in Broadcom by 62.1% during the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock worth $26,000 after buying an additional 36 shares in the last quarter. PFS Partners LLC grew its position in Broadcom by 38.4% during the second quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer's stock worth $38,000 after buying an additional 38 shares in the last quarter. Waddell & Associates LLC grew its position in Broadcom by 2.1% during the first quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer's stock worth $350,000 after buying an additional 43 shares in the last quarter. Luts & Greenleigh Group Inc. grew its position in Broadcom by 1.3% during the second quarter. Luts & Greenleigh Group Inc. now owns 3,405 shares of the semiconductor manufacturer's stock worth $939,000 after buying an additional 44 shares in the last quarter. Finally, Challenger Wealth Management grew its position in Broadcom by 1.3% during the first quarter. Challenger Wealth Management now owns 3,504 shares of the semiconductor manufacturer's stock worth $587,000 after buying an additional 45 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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 transaction, the director owned 37,722,534 shares of the company's stock, valued at $12,746,821,463.94. The trade was a 0.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 3,893 shares of the business's stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total transaction 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 $8,798,106.90. This trade represents a 13.34% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 3,550 shares of company stock worth $1,227,869 and have sold 666,071 shares worth $225,623,008. Corporate insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on AVGO shares. Oppenheimer reissued an "outperform" rating and set a $360.00 target price (up from $325.00) on shares of Broadcom in a research report on Friday, September 5th. Sanford C. Bernstein raised their price target on shares of Broadcom from $295.00 to $400.00 and gave the stock an "outperform" rating in a research note on Friday, September 5th. Wells Fargo & Company raised their price target on shares of Broadcom from $255.00 to $345.00 and gave the stock an "equal weight" rating in a research note on Friday, September 5th. Weiss Ratings restated a "buy (b-)" rating on shares of Broadcom in a research note on Saturday, September 27th. Finally, KeyCorp restated an "overweight" rating and set a $420.00 price target (up previously from $400.00) on shares of Broadcom in a research note on Tuesday. Three investment analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $357.22.

Broadcom Price Performance

AVGO opened at $338.37 on Friday. The company has a fifty day moving average price of $318.43 and a two-hundred day moving average price of $257.77. 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 market capitalization of $1.60 trillion, a PE ratio of 86.32, a P/E/G ratio of 1.87 and a beta of 1.20.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS 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 firm had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. During the same quarter in the previous year, the business earned $1.24 EPS. The business's quarterly revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. As a group, analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

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

Broadcom 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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