Franklin Street Advisors Inc. NC Has $55.09 Million Stock Position in Broadcom Inc. $AVGO

Key Points

• Franklin Street Advisors Inc. reduced its stake in Broadcom Inc. by 4.6%, now holding 199,867 shares worth approximately $55.09 million, making Broadcom the 7th largest position in their portfolio.
• Several institutional investors have increased their positions in Broadcom, with notable boosts from Sawyer & Company Inc. and PFS Partners LLC during the 2nd quarter of the year.
• Analysts have recently raised price targets for Broadcom, with UBS Group increasing its target to $345 and Sanford C. Bernstein to $400, leading to a consensus rating of "Buy" for the stock.

Franklin Street Advisors Inc. NC cut its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 199,867 shares of the semiconductor manufacturer's stock after selling 9,744 shares during the period. Broadcom comprises about 3.4% of Franklin Street Advisors Inc. NC's investment portfolio, making the stock its 7th biggest position. Franklin Street Advisors Inc. NC's holdings in Broadcom were worth $55,093,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Sawyer & Company Inc boosted its position in shares of 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 purchasing an additional 36 shares during the period. Legend Financial Advisors Inc. bought a new position in shares of Broadcom in the second quarter worth approximately $28,000. Maseco LLP purchased a new position in shares of Broadcom during the 2nd quarter valued at $34,000. PFS Partners LLC lifted its stake in shares of Broadcom by 38.4% during the 2nd quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer's stock valued at $38,000 after buying an additional 38 shares in the last quarter. Finally, Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Broadcom during the 1st quarter valued at $25,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AVGO has been the topic of a number of recent analyst reports. UBS Group raised their price target on Broadcom from $290.00 to $345.00 and gave the company a "buy" rating in a report on Monday, August 25th. Evercore ISI reiterated an "outperform" rating and set a $342.00 target price (up previously from $304.00) on shares of Broadcom in a research report on Thursday, September 4th. Arete Research upgraded Broadcom to a "strong-buy" rating in a research report on Monday, July 28th. Sanford C. Bernstein increased their target price on Broadcom from $295.00 to $400.00 and gave the stock an "outperform" rating in a research report on Friday, September 5th. Finally, Piper Sandler upped their price target on Broadcom from $315.00 to $375.00 and gave the stock an "overweight" rating in a research note on Friday, September 5th. Three analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $357.22.

Broadcom Price Performance

Shares of Broadcom stock opened at $336.41 on Wednesday. The firm has a market cap of $1.59 trillion, a PE ratio of 85.82, a PEG ratio of 1.86 and a beta of 1.20. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $374.23. The stock has a 50 day moving average of $320.03 and a 200 day moving average of $259.78. 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 issued 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 business had revenue of $15.95 billion for the quarter, compared to analysts' expectations of $15.82 billion. During the same period in the prior year, the firm earned $1.24 EPS. The company'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, research analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

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

Insiders Place Their Bets

In related news, Director Henry Samueli sold 368,797 shares of the stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $337.91, for a total value of $124,620,194.27. Following the completion of the transaction, the director owned 37,722,534 shares of the company's stock, valued at approximately $12,746,821,463.94. This trade represents a 0.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Charlie B. Kawwas sold 3,893 shares of the stock in a transaction dated 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 transaction, the insider directly owned 25,295 shares of the company's stock, valued at approximately $8,798,106.90. The trade was a 13.34% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 3,550 shares of company stock worth $1,227,869 and sold 666,071 shares worth $225,623,008. Corporate insiders own 2.00% of the company's stock.

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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