Deltec Asset Management LLC Sells 15,264 Shares of Broadcom Inc. $AVGO

Key Points

• Deltec Asset Management LLC reduced its stake in Broadcom Inc. (NASDAQ: AVGO) by 13.8%, selling 15,264 shares, which now constitutes 4.7% of their portfolio.
• Broadcom's CEO, Hock E. Tan, sold 148,154 shares for approximately $49.88 million, resulting in a 15.21% decrease in his ownership of the stock.
• Analysts have a consensus rating of "Buy" on Broadcom's stock, with target prices ranging from $340.00 to $410.00, indicating strong market confidence.

Deltec Asset Management LLC decreased its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 13.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 95,275 shares of the semiconductor manufacturer's stock after selling 15,264 shares during the period. Broadcom comprises 4.7% of Deltec Asset Management LLC's portfolio, making the stock its 4th largest holding. Deltec Asset Management LLC's holdings in Broadcom were worth $26,263,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Sawyer & Company Inc increased its holdings in Broadcom by 62.1% in the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock worth $26,000 after buying an additional 36 shares during the last quarter. Legend Financial Advisors Inc. acquired a new position in Broadcom in the second quarter worth approximately $28,000. Maseco LLP acquired a new position in Broadcom in the second quarter worth approximately $34,000. PFS Partners LLC increased its holdings in 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 buying an additional 38 shares during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC bought a new stake in Broadcom during the first quarter worth approximately $25,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Activity

In other Broadcom news, CEO Hock E. Tan sold 148,154 shares of the stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $336.67, for a total transaction of $49,879,007.18. Following the completion of the transaction, the chief executive officer directly owned 825,998 shares in the company, valued at $278,088,746.66. This represents a 15.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 3,893 shares of the firm's stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total value 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 trade represents a 13.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 3,550 shares of company stock valued at $1,227,869 and sold 666,071 shares valued at $225,623,008. 2.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Arete Research raised Broadcom to a "strong-buy" rating in a research report on Monday, July 28th. HSBC raised Broadcom from a "hold" rating to a "buy" rating and set a $400.00 target price for the company in a research report on Tuesday, June 24th. Mizuho upped their target price on Broadcom from $355.00 to $410.00 and gave the stock an "outperform" rating in a research report on Friday, September 12th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $340.00 target price on shares of Broadcom in a research report on Wednesday, August 13th. Finally, TD Cowen upped their target price on Broadcom from $355.00 to $370.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $357.22.

Broadcom Stock Performance

Broadcom stock opened at $338.37 on Monday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. The stock has a fifty day moving average price of $318.43 and a two-hundred day moving average price of $258.24. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $374.23. The firm has a market capitalization of $1.60 trillion, a P/E ratio of 86.32, a P/E/G ratio of 1.87 and a beta of 1.20.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data 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. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The firm had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. During the same period in the prior year, the company posted $1.24 earnings per share. The business's revenue for the quarter was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. As a group, analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date was Monday, September 22nd. Broadcom's dividend payout ratio is currently 60.20%.

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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