Coordinated Financial Services Inc. Makes New Investment in Broadcom Inc. $AVGO

Key Points

• Coordinated Financial Services Inc. acquired 3,815 shares of Broadcom Inc. for approximately $1,052,000, according to its recent 13F filing.
• Broadcom received several upgrades from analysts, with HSBC increasing its target price to $400.00 and multiple firms giving high ratings due to strong growth prospects.
• CEO Hock E. Tan sold 148,154 shares for over $49.8 million, reducing his stake by 15.21%, while CFO Kirsten M. Spears also sold shares, indicating insider trading activity.

Coordinated Financial Services Inc. acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,815 shares of the semiconductor manufacturer's stock, valued at approximately $1,052,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sawyer & Company Inc grew its holdings in Broadcom by 62.1% during the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock worth $26,000 after acquiring an additional 36 shares during the last quarter. Legend Financial Advisors Inc. bought a new stake in shares of Broadcom in the second quarter worth $28,000. Maseco LLP bought a new stake in shares of Broadcom in the second quarter worth $34,000. PFS Partners LLC grew its stake in shares of Broadcom by 38.4% in the second quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer's stock worth $38,000 after purchasing an additional 38 shares during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Broadcom in the 1st quarter valued at about $25,000. Institutional investors own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of analyst reports. HSBC upgraded Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price target on the stock in a research report on Tuesday, June 24th. Sanford C. Bernstein upped their target price on Broadcom from $295.00 to $400.00 and gave the company an "outperform" rating in a report on Friday, September 5th. Piper Sandler upped their price objective on shares of Broadcom from $315.00 to $375.00 and gave the company an "overweight" rating in a research note on Friday, September 5th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $340.00 price objective on shares of Broadcom in a research note on Wednesday, August 13th. 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 research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $372.33.

Insider Activity at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 148,154 shares of Broadcom stock in a transaction that occurred 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 $278,088,746.66. This trade represents a 15.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kirsten M. Spears sold 7,498 shares of Broadcom stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the transaction, the chief financial officer directly owned 313,330 shares in the company, valued at approximately $108,932,307.80. This represents a 2.34% decrease in their position. 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 664,471 shares valued at $225,184,128. Company insiders own 2.00% of the company's stock.

Broadcom Stock Up 2.1%

AVGO stock opened at $351.33 on Thursday. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $374.23. 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's 50 day moving average is $325.83 and its 200-day moving average is $266.04. The firm has a market capitalization of $1.66 trillion, a PE ratio of 89.63, a P/E/G ratio of 1.91 and a beta of 1.20.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data 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. 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 analysts' expectations of $15.82 billion. During the same period last year, the business earned $1.24 EPS. The business's revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. Sell-side analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, September 22nd. Broadcom's dividend payout ratio (DPR) is presently 60.20%.

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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