CWC Advisors LLC. Sells 803 Shares of Broadcom Inc. $AVGO

Key Points

• CWC Advisors LLC decreased its stake in Broadcom Inc. by 3.5% during the second quarter, holding 22,362 shares valued at approximately $6.16 million.
• Analysts have raised price targets for Broadcom, with TD Cowen setting a new target at $370.00, and HSBC upgrading its rating to buy with a target of $400.00.
• Broadcom recently posted quarterly earnings of $1.69 per share, exceeding expectations, with revenue of $15.95 billion, marking a 22.0% increase year-over-year.

CWC Advisors LLC. cut its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,362 shares of the semiconductor manufacturer's stock after selling 803 shares during the quarter. Broadcom accounts for about 3.2% of CWC Advisors LLC.'s holdings, making the stock its 5th biggest holding. CWC Advisors LLC.'s holdings in Broadcom were worth $6,164,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in AVGO. Sawyer & Company Inc grew its position in shares of Broadcom by 62.1% during the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock valued at $26,000 after purchasing an additional 36 shares in the last quarter. Waddell & Associates LLC grew its stake 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 acquiring an additional 43 shares in the last quarter. Challenger Wealth Management lifted 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 valued at $587,000 after purchasing an additional 45 shares during the last quarter. High Net Worth Advisory Group LLC lifted its holdings in Broadcom by 1.7% during the 2nd quarter. High Net Worth Advisory Group LLC now owns 2,671 shares of the semiconductor manufacturer's stock valued at $736,000 after buying an additional 45 shares in the last quarter. Finally, Martingale Asset Management L P grew its position in shares of Broadcom by 1.3% in the 1st quarter. Martingale Asset Management L P now owns 3,876 shares of the semiconductor manufacturer's stock worth $649,000 after buying an additional 48 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AVGO has been the subject of several recent analyst reports. Bank of America boosted their price target on shares of Broadcom from $300.00 to $400.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Morgan Stanley lifted their price objective on Broadcom from $338.00 to $357.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 2nd. Truist Financial upped their target price on Broadcom from $295.00 to $365.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Wall Street Zen upgraded shares of Broadcom from a "hold" rating to a "buy" rating in a research report on Saturday, September 6th. Finally, JPMorgan Chase & Co. raised their price target on Broadcom from $325.00 to $400.00 and gave the stock an "overweight" rating in a research note on Friday, September 5th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Broadcom presently has an average rating of "Buy" and a consensus target price of $356.48.

Insider Activity

In other news, Director Henry Samueli sold 473,898 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total value of $125,739,356.34. Following the completion of the sale, the director owned 38,188,575 shares of the company's stock, valued at approximately $10,132,574,604.75. This represents a 1.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kirsten M. Spears sold 36,350 shares of the firm's stock in a transaction 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 sale, the chief financial officer owned 325,587 shares in the company, valued at approximately $85,066,115.49. This represents a 10.04% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 3,550 shares of company stock valued at $1,227,869 and have sold 840,522 shares valued at $236,959,124. Insiders own 2.00% of the company's stock.

Broadcom Trading Down 0.1%

Shares of AVGO stock traded down $0.41 during mid-day trading on Friday, hitting $344.94. The company's stock had a trading volume of 41,147,297 shares, compared to its average volume of 29,009,098. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. The company's fifty day simple moving average is $308.05 and its 200-day simple moving average is $248.20. The company has a market cap of $1.63 trillion, a PE ratio of 87.99, a P/E/G ratio of 1.91 and a beta of 1.16. Broadcom Inc. has a 52 week low of $138.10 and a 52 week 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, topping the consensus estimate of $1.66 by $0.03. The firm had revenue of $15.95 billion for the quarter, compared to the consensus estimate of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The business's quarterly revenue was up 22.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. As a group, equities research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Monday, September 22nd. Broadcom's dividend payout ratio is currently 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.