Community Financial Services Group LLC Reduces Holdings in Broadcom Inc. $AVGO

Key Points

• Community Financial Services Group LLC reduced its stake in Broadcom Inc. by 1.3%, owning 67,370 shares valued at approximately $18.57 million after selling 919 shares in the second quarter.
• Several institutional investors increased their positions in Broadcom during the first quarter, with notable purchases from Nuveen LLC amounting to about $6.65 billion and Price T Rowe Associates Inc. boosting its holdings by 37.8%.
• Broadcom's recent earnings report showed a profit of $1.69 EPS, surpassing expectations, with revenue of $15.95 billion marking a 22% increase year-over-year.

Community Financial Services Group LLC trimmed its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,370 shares of the semiconductor manufacturer's stock after selling 919 shares during the quarter. Broadcom comprises 3.7% of Community Financial Services Group LLC's holdings, making the stock its 4th biggest position. Community Financial Services Group LLC's holdings in Broadcom were worth $18,571,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AVGO. Nuveen LLC bought a new stake in shares of Broadcom during the 1st quarter worth about $6,649,117,000. Price T Rowe Associates Inc. MD raised its position in shares of Broadcom by 37.8% during the 1st 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 buying an additional 17,985,046 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Broadcom by 16.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer's stock worth $5,333,384,000 after buying an additional 4,550,647 shares in the last quarter. Deutsche Bank AG raised its position in shares of Broadcom by 36.9% during the 1st quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer's stock worth $2,638,512,000 after buying an additional 4,245,345 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of Broadcom by 16.0% during the 1st quarter. Alliancebernstein L.P. now owns 29,513,814 shares of the semiconductor manufacturer's stock worth $4,941,498,000 after buying an additional 4,077,910 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Price Performance

NASDAQ AVGO opened at $338.37 on Monday. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $1.60 trillion, a PE ratio of 86.32, a price-to-earnings-growth ratio of 1.87 and a beta of 1.20. The company has a 50 day moving average price of $318.43 and a two-hundred day moving average price of $258.24. 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 posted its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) 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 analysts' expectations 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 previous year, the company earned $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. As a group, equities analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were paid 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 payout ratio is presently 60.20%.

Insiders Place Their Bets

In other news, CEO Hock E. Tan sold 100,000 shares of the business's stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $339.58, for a total value of $33,958,000.00. Following the completion of the sale, the chief executive officer directly owned 725,638 shares in the company, valued at approximately $246,412,152.04. The trade was a 12.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 16,558 shares of the business's stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the completion of the sale, the insider owned 329,302 shares of the company's stock, valued at $114,468,668.22. The trade was a 4.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders acquired 3,550 shares of company stock valued at $1,227,869 and sold 666,071 shares valued at $225,623,008. Corporate insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AVGO. Bank of America lifted their price objective on shares of Broadcom from $300.00 to $400.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Benchmark lifted their price objective on shares of Broadcom from $315.00 to $385.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Oppenheimer reaffirmed an "outperform" rating and issued a $360.00 price objective (up previously from $325.00) on shares of Broadcom in a research note on Friday, September 5th. TD Cowen lifted their price objective on shares of Broadcom from $355.00 to $370.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Finally, Hsbc Global Res raised shares of Broadcom from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 24th. Three analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average 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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