Focus Financial Network Inc. Sells 7,502 Shares of Broadcom Inc. $AVGO

Key Points

• Focus Financial Network Inc. reduced its stake in Broadcom Inc. by 22.0%, now holding 26,565 shares valued at $7,323,000.
• Insiders at Broadcom have been actively selling stock, with insider Mark David Brazeal selling 50,000 shares for approximately $12.66 million.
• Equities research analysts have issued a consensus rating of "Buy" for Broadcom, with an average target price of $356.48, significantly influenced by recent upgrades from several firms.

Focus Financial Network Inc. lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 22.0% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 26,565 shares of the semiconductor manufacturer's stock after selling 7,502 shares during the period. Focus Financial Network Inc.'s holdings in Broadcom were worth $7,323,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Sawyer & Company Inc raised its stake in shares of Broadcom by 62.1% in the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock valued at $26,000 after acquiring an additional 36 shares during the last quarter. Sunbeam Capital Management LLC acquired a new stake in shares of Broadcom during the 4th quarter worth approximately $28,000. Vermillion Wealth Management Inc. bought a new stake in shares of Broadcom during the 4th quarter valued at $30,000. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Broadcom during the 1st quarter valued at $25,000. Finally, Cheviot Value Management LLC acquired a new position in Broadcom during the first quarter valued at approximately $25,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Stock Performance

Broadcom stock traded down $0.41 during trading hours on Friday, hitting $344.94. The company had a trading volume of 41,147,297 shares, compared to its average volume of 27,762,164. 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 firm has a 50-day moving average of $308.05 and a 200 day moving average of $247.33. Broadcom Inc. has a one year low of $138.10 and a one year high of $374.23. The firm has a market cap of $1.63 trillion, a PE ratio of 87.99, a PEG ratio of 1.91 and a beta of 1.16.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.66 by $0.03. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The firm had revenue of $15.95 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. On average, sell-side analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

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

Analyst Ratings Changes

AVGO has been the topic of a number of research analyst reports. KeyCorp raised their price target on Broadcom from $330.00 to $400.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. Wall Street Zen raised Broadcom from a "hold" rating to a "buy" rating in a research note on Saturday, September 6th. Rosenblatt Securities raised their target price on shares of Broadcom from $340.00 to $400.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Broadcom from $300.00 to $350.00 and gave the company a "buy" rating in a report on Friday, September 5th. Finally, Barclays upped their price target on shares of Broadcom from $265.00 to $400.00 and gave the company an "overweight" rating in a report on Friday, September 5th. Three equities 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. According to MarketBeat, Broadcom currently has a consensus rating of "Buy" and a consensus price target of $356.48.

Insider Transactions at Broadcom

In other news, CEO Hock E. Tan sold 148,154 shares of the stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $336.67, for a total value of $49,879,007.18. Following the transaction, the chief executive officer owned 825,998 shares of the company's stock, valued at $278,088,746.66. This represents a 15.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mark David Brazeal sold 16,558 shares of the company's stock in a transaction dated 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 owned 329,302 shares of the company's stock, valued at approximately $114,468,668.22. The trade was a 4.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 3,550 shares of company stock valued at $1,227,869 and sold 840,522 shares valued at $236,959,124. Corporate insiders own 2.00% of the company's stock.

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.