Cyr Financial Inc. Acquires 1,747 Shares of Broadcom Inc. $AVGO

Key Points

• Cyr Financial Inc. increased its holdings in Broadcom Inc. by 62.9% in Q2, acquiring 1,747 shares, bringing its total shares to 4,525, valued at approximately $1.25 million.
• Analysts have raised their price targets for Broadcom, with estimates now ranging up to $370, as the stock has recently received multiple "buy" ratings.
• Insider transactions show significant selling at Broadcom, with notable sales made by insiders, resulting in a 13.34% decrease in one insider's position, despite a recent quarterly revenue increase of 22.0% year-over-year.

Cyr Financial Inc. grew its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 62.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,525 shares of the semiconductor manufacturer's stock after acquiring an additional 1,747 shares during the quarter. Broadcom accounts for approximately 1.0% of Cyr Financial Inc.'s investment portfolio, making the stock its 16th biggest position. Cyr Financial Inc.'s holdings in Broadcom were worth $1,247,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of AVGO. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Broadcom in the first quarter valued at about $25,000. Cheviot Value Management LLC bought a new stake in Broadcom during the first quarter worth about $25,000. Inlight Wealth Management LLC bought a new stake in Broadcom during the first quarter worth about $26,000. Sawyer & Company Inc lifted 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 purchasing an additional 36 shares during the period. Finally, Legend Financial Advisors Inc. bought a new stake in Broadcom during the second quarter worth about $28,000. Institutional investors own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

AVGO has been the subject of several recent analyst reports. Truist Financial upped their price objective on shares of Broadcom from $295.00 to $365.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Wall Street Zen raised shares of Broadcom from a "hold" rating to a "buy" rating in a research report on Saturday, September 6th. Oppenheimer reaffirmed an "outperform" rating and set a $360.00 price objective (up previously from $325.00) on shares of Broadcom in a research report on Friday, September 5th. TD Cowen upped their price objective on shares of Broadcom from $355.00 to $370.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Finally, Erste Group Bank raised shares of Broadcom from a "hold" rating to a "buy" rating in a report on Thursday, June 5th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $357.22.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 3,893 shares of the stock in a transaction that occurred 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 sale, the insider owned 25,295 shares of the company's stock, valued at approximately $8,798,106.90. This represents a 13.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 16,558 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the sale, the insider directly owned 329,302 shares of the company's stock, valued at $114,468,668.22. This represents a 4.79% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have acquired 3,550 shares of company stock worth $1,227,869 and have sold 666,071 shares worth $225,623,008. 2.00% of the stock is owned by company insiders.

Broadcom Stock Up 1.4%

Shares of NASDAQ AVGO opened at $338.18 on Friday. The company has a 50 day simple moving average of $317.47 and a 200 day simple moving average of $256.30. The firm has a market cap of $1.60 trillion, a PE ratio of 86.27, a price-to-earnings-growth ratio of 1.85 and a beta of 1.20. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $374.23. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.66 by $0.03. The business had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The firm's quarterly revenue was up 22.0% on a year-over-year basis. During the same quarter last year, the business earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. On average, research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders 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 yield of 0.7%. The ex-dividend date of this dividend was Monday, September 22nd. Broadcom's dividend payout ratio is currently 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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