Core Wealth Advisors Inc. Takes $204,000 Position in Broadcom Inc. $AVGO

Key Points

• Core Wealth Advisors Inc. established a $204,000 position in Broadcom Inc. by acquiring 1,221 shares during the first quarter, highlighting institutional interest in the semiconductor manufacturer.
• Broadcom's CFO Kirsten M. Spears sold 36,350 shares, amounting to over $9.4 million, indicating significant insider trading activity as total insider sales surpassed $217 million last quarter.
• Analyst ratings for Broadcom remain positive, with multiple firms raising their target prices, reflecting a strong market sentiment, as indicated by a consensus rating of "Buy".

Core Wealth Advisors Inc. bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The fund bought 1,221 shares of the semiconductor manufacturer's stock, valued at approximately $204,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Waddell & Associates LLC boosted its holdings in Broadcom by 2.1% during the first quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer's stock valued at $350,000 after purchasing an additional 43 shares in the last quarter. True Wealth Design LLC grew its position in Broadcom by 7.2% in the fourth quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock valued at $165,000 after acquiring an additional 48 shares during the period. Wescott Financial Advisory Group LLC raised its stake in Broadcom by 3.8% during the first quarter. Wescott Financial Advisory Group LLC now owns 1,326 shares of the semiconductor manufacturer's stock worth $222,000 after acquiring an additional 48 shares in the last quarter. Martingale Asset Management L P raised its stake in Broadcom by 1.3% during the first quarter. Martingale Asset Management L P now owns 3,876 shares of the semiconductor manufacturer's stock worth $649,000 after acquiring an additional 48 shares in the last quarter. Finally, Monterey Private Wealth Inc. lifted its holdings in shares of Broadcom by 1.8% during the first quarter. Monterey Private Wealth Inc. now owns 2,780 shares of the semiconductor manufacturer's stock valued at $465,000 after acquiring an additional 48 shares during the period. Institutional investors own 76.43% of the company's stock.

Insider Buying and Selling

In related news, CFO Kirsten M. Spears sold 36,350 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $261.27, for a total transaction of $9,497,164.50. Following the completion of the transaction, the chief financial officer owned 325,587 shares in the company, valued at approximately $85,066,115.49. The trade was a 10.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gayla J. Delly sold 3,000 shares of the company's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $265.13, for a total transaction of $795,390.00. Following the completion of the sale, the director owned 33,352 shares of the company's stock, valued at approximately $8,842,615.76. This represents a 8.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 830,516 shares of company stock worth $217,286,457 over the last quarter. Insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

AVGO has been the subject of a number of recent analyst reports. KeyCorp increased their target price on shares of Broadcom from $315.00 to $330.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Cantor Fitzgerald reissued an "overweight" rating and issued a $300.00 target price on shares of Broadcom in a report on Friday, June 6th. Mizuho lifted their price objective on Broadcom from $315.00 to $320.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Rosenblatt Securities increased their target price on Broadcom from $223.00 to $340.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Finally, Piper Sandler raised their target price on Broadcom from $300.00 to $315.00 and gave the company an "overweight" rating in a research note on Friday, August 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, Broadcom presently has a consensus rating of "Buy" and a consensus price target of $301.79.

Broadcom Price Performance

Shares of AVGO stock opened at $297.39 on Monday. The stock has a 50-day moving average price of $287.74 and a 200 day moving average price of $234.66. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. The firm has a market cap of $1.40 trillion, a price-to-earnings ratio of 111.38, a PEG ratio of 2.11 and a beta of 1.16. Broadcom Inc. has a 12 month low of $134.90 and a 12 month high of $317.35.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.57 by $0.01. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The company had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.98 billion. During the same period in the prior year, the company posted $10.96 EPS. The company's revenue was up 20.2% compared to the same quarter last year. Broadcom has set its Q3 2025 guidance at EPS. Research analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, June 20th. Broadcom's dividend payout ratio is currently 88.39%.

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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