Game Plan Financial Advisors LLC Reduces Stock Position in Broadcom Inc. $AVGO

Key Points

• Game Plan Financial Advisors LLC reduced its stock position in Broadcom Inc. by 69.3%, selling off 12,445 shares and leaving it with only 5,510 shares.
• Multiple institutional investors, including Barnes Dennig Private Wealth Management and Cheviot Value Management, have initiated new positions in Broadcom, indicating continued interest in the stock.
• Analysts have a consensus price target of $370.07 for Broadcom, with several recent upgrades, including a new target of $420.00 from Macquarie.

Game Plan Financial Advisors LLC trimmed its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 69.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,510 shares of the semiconductor manufacturer's stock after selling 12,445 shares during the period. Game Plan Financial Advisors LLC's holdings in Broadcom were worth $1,519,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Barnes Dennig Private Wealth Management LLC purchased a new position in Broadcom during the first quarter valued at approximately $25,000. Cheviot Value Management LLC purchased a new position in shares of Broadcom during the 1st quarter valued at $25,000. Inlight Wealth Management LLC purchased a new position in shares of Broadcom during the 1st quarter valued at $26,000. Sawyer & Company Inc lifted its stake in shares of Broadcom by 62.1% during the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock valued at $26,000 after buying an additional 36 shares in the last quarter. Finally, Legend Financial Advisors Inc. purchased a new position in shares of Broadcom during the 2nd quarter valued at $28,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AVGO has been the topic of several research analyst reports. Macquarie initiated coverage on Broadcom in a research report on Monday, September 15th. They issued an "outperform" rating and a $420.00 price objective on the stock. KeyCorp set a $460.00 price target on Broadcom in a report on Monday. Truist Financial boosted their price target on Broadcom from $295.00 to $365.00 and gave the stock a "buy" rating in a report on Friday, September 5th. 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. Finally, Weiss Ratings lowered shares of Broadcom from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, Broadcom currently has an average rating of "Buy" and a consensus price target of $370.07.

Insider Buying and Selling at Broadcom

In other news, insider Charlie B. Kawwas sold 3,893 shares of the stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total value of $1,354,063.26. Following the transaction, the insider directly owned 25,295 shares of the company's stock, valued at approximately $8,798,106.90. This represents a 13.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hock E. Tan sold 148,154 shares of the stock in a transaction that occurred 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 owned 825,998 shares in the company, valued at approximately $278,088,746.66. This trade represents a 15.21% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have acquired 3,550 shares of company stock worth $1,227,869 and have sold 664,471 shares worth $225,184,128. 2.00% of the stock is owned by company insiders.

Broadcom Price Performance

Shares of AVGO stock opened at $344.13 on Wednesday. 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 $1.63 trillion, a P/E ratio of 87.79, a P/E/G ratio of 1.98 and a beta of 1.20. The stock has a 50 day moving average price of $324.84 and a 200 day moving average price of $265.45. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $15.82 billion. During the same period in the previous year, the company posted $1.24 EPS. Broadcom's revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. As a group, sell-side analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently declared 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. The ex-dividend date was Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Broadcom's dividend payout ratio is presently 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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