Faithward Advisors LLC Sells 965 Shares of Broadcom Inc. $AVGO

Key Points

• Faithward Advisors LLC reduced its stake in Broadcom Inc. by 3.6%, selling 965 shares during the first quarter, leaving them with 25,645 shares valued at approximately $4.29 million.
• Institutional investors hold a significant majority (76.43%) of Broadcom's stock, with recent notable increases in holdings from firms like Nuveen LLC and Price T Rowe Associates Inc..
• Broadcom's stock saw notable upgrades from analysts, with JPMorgan Chase increasing its price target from $325 to $400, while Benchmark raised its target to $385, indicating a consensus average target price of $351.

Faithward Advisors LLC lowered its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 25,645 shares of the semiconductor manufacturer's stock after selling 965 shares during the quarter. Faithward Advisors LLC's holdings in Broadcom were worth $4,294,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nuveen LLC bought a new position in shares of Broadcom during the first quarter valued at approximately $6,649,117,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Broadcom by 37.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer's stock valued at $10,968,270,000 after acquiring an additional 17,985,046 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Broadcom by 18,179.3% during the first quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer's stock valued at $2,892,548,000 after acquiring an additional 17,181,652 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Broadcom by 16.7% during the first quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer's stock valued at $5,333,384,000 after acquiring an additional 4,550,647 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of Broadcom by 36.9% during the first quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer's stock valued at $2,638,512,000 after acquiring an additional 4,245,345 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on AVGO shares. Cowen restated a "buy" rating on shares of Broadcom in a research report on Friday, June 6th. JPMorgan Chase & Co. lifted their price target on Broadcom from $325.00 to $400.00 and gave the company an "overweight" rating in a research report on Friday. Deutsche Bank Aktiengesellschaft lifted their price target on Broadcom from $300.00 to $350.00 and gave the company a "buy" rating in a research report on Friday. Benchmark lifted their price target on Broadcom from $315.00 to $385.00 and gave the company a "buy" rating in a research report on Friday. Finally, Piper Sandler lifted their price objective on Broadcom from $315.00 to $375.00 and gave the company an "overweight" rating in a research note on Friday. Three research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $351.00.

Broadcom Trading Up 9.4%

NASDAQ AVGO opened at $334.89 on Monday. The stock has a market cap of $1.58 trillion, a P/E ratio of 85.43, a P/E/G ratio of 2.38 and a beta of 1.16. The stock's fifty day moving average price is $292.09 and its 200-day moving average price is $237.38. Broadcom Inc. has a 12 month low of $134.90 and a 12 month high of $356.34. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping 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 return on equity of 36.60% and a net margin of 31.59%.The company's quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. As a group, equities analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd will be issued a $0.59 dividend. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom's dividend payout ratio (DPR) is presently 60.20%.

Insiders Place Their Bets

In other Broadcom news, CFO Kirsten M. Spears sold 36,350 shares of the firm's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $261.27, for a total value of $9,497,164.50. Following the transaction, the chief financial officer directly owned 325,587 shares of the company's stock, valued at approximately $85,066,115.49. This trade represents a 10.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 40,000 shares of the firm's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $268.29, for a total value of $10,731,600.00. Following the completion of the transaction, the chief executive officer directly owned 482,836 shares in the company, valued at $129,540,070.44. The trade was a 7.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 830,516 shares of company stock worth $217,286,457. 2.00% of the stock is owned by corporate insiders.

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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