Foster & Motley Inc. Has $5.31 Million Stock Holdings in Broadcom Inc. $AVGO

Key Points

• Foster & Motley Inc. reduced its stake in Broadcom Inc. by 4.7% during the second quarter, now holding 19,268 shares valued at approximately $5.31 million.
• Broadcom recently secured a price target of $460, indicating a potential 30% upside for the stock according to analysts.
• Insider trading included Justine Page selling 800 shares for about $280,120, and Mark David Brazeal selling over 16,500 shares for approximately $5.76 million.

Foster & Motley Inc. cut its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,268 shares of the semiconductor manufacturer's stock after selling 945 shares during the period. Foster & Motley Inc.'s holdings in Broadcom were worth $5,311,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AVGO. Brighton Jones LLC raised its holdings in Broadcom by 21.8% in the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock valued at $6,882,000 after acquiring an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in Broadcom by 10.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock valued at $1,854,000 after acquiring an additional 756 shares in the last quarter. GAMMA Investing LLC raised its holdings in Broadcom by 9.2% in the 1st quarter. GAMMA Investing LLC now owns 103,184 shares of the semiconductor manufacturer's stock valued at $17,276,000 after acquiring an additional 8,672 shares in the last quarter. Riverbend Wealth Management LLC raised its holdings in Broadcom by 10.1% in the 1st quarter. Riverbend Wealth Management LLC now owns 11,105 shares of the semiconductor manufacturer's stock valued at $1,859,000 after acquiring an additional 1,016 shares in the last quarter. Finally, Valicenti Advisory Services Inc. raised its holdings in Broadcom by 6.3% in the 1st quarter. Valicenti Advisory Services Inc. now owns 56,429 shares of the semiconductor manufacturer's stock valued at $9,448,000 after acquiring an additional 3,364 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Broadcom

In related news, Director Justine Page sold 800 shares of the company's stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $350.15, for a total transaction of $280,120.00. Following the sale, the director owned 22,182 shares in the company, valued at $7,767,027.30. This represents a 3.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $5,755,726.38. Following the sale, the insider owned 329,302 shares in the company, valued at approximately $114,468,668.22. The trade was a 4.79% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 3,550 shares of company stock worth $1,227,869 and have sold 665,271 shares worth $225,464,248. 2.00% of the stock is currently owned by company insiders.

Broadcom Trading Up 1.2%

NASDAQ AVGO opened at $344.29 on Friday. The business's 50-day moving average price is $330.52 and its two-hundred day moving average price is $273.74. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $374.23. The firm has a market capitalization of $1.63 trillion, a PE ratio of 87.83, a price-to-earnings-growth ratio of 1.92 and a beta of 1.20. 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 announced its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, beating 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 company had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. During the same quarter in the prior year, the company earned $1.24 EPS. The firm'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. On average, analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Rosenblatt Securities boosted their price target on Broadcom from $340.00 to $400.00 and gave the stock a "buy" rating in a report on Friday, September 5th. KeyCorp set a $460.00 price target on Broadcom in a report on Monday, October 13th. Macquarie assumed coverage on Broadcom in a report on Monday, September 15th. They set an "outperform" rating and a $420.00 price target for the company. Benchmark boosted their price target on Broadcom from $315.00 to $385.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Finally, Piper Sandler boosted their price target on Broadcom from $315.00 to $375.00 and gave the stock an "overweight" rating in a report on Friday, September 5th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Broadcom presently has a consensus rating of "Buy" and a consensus price target of $372.52.

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.

Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.