GFG Capital LLC Cuts Position in Broadcom Inc. $AVGO

Key Points

• GFG Capital LLC significantly reduced its stake in Broadcom Inc. by 92.4%, selling 3,012 shares and currently holding only 246 shares valued at $68,000.
• Institutional investors collectively own 76.43% of Broadcom's stock, with several firms, including Nuveen LLC and Price T Rowe Associates Inc., making substantial investments and increases in their holdings.
• Broadcom reported strong financial results, with a quarterly earnings per share (EPS) of $1.69, exceeding estimates and reflecting a 22.0% revenue increase compared to the previous year.

GFG Capital LLC lowered its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 92.4% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 246 shares of the semiconductor manufacturer's stock after selling 3,012 shares during the period. GFG Capital LLC's holdings in Broadcom were worth $68,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in AVGO. Nuveen LLC purchased a new stake in shares of Broadcom during the first quarter valued at $6,649,117,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Broadcom by 37.8% during the 1st 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 during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Broadcom by 16.7% during the 1st 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 during the last quarter. Deutsche Bank AG boosted its stake in shares of Broadcom by 36.9% in the 1st quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer's stock worth $2,638,512,000 after buying an additional 4,245,345 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of Broadcom by 16.0% during the 1st quarter. Alliancebernstein L.P. now owns 29,513,814 shares of the semiconductor manufacturer's stock worth $4,941,498,000 after acquiring an additional 4,077,910 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom Stock Performance

AVGO stock opened at $344.13 on Wednesday. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $374.23. 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 company has a market capitalization of $1.63 trillion, a P/E ratio of 87.79, a PEG ratio of 1.98 and a beta of 1.20. The business has a 50-day moving average price of $324.84 and a 200 day moving average price of $265.45.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly 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. The business had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The company's quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. As a group, equities research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

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

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Hsbc Global Res upgraded Broadcom from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, June 24th. HSBC upgraded Broadcom from a "hold" rating to a "buy" rating and set a $400.00 target price on the stock in a research report on Tuesday, June 24th. Argus upped their target price on shares of Broadcom from $285.00 to $375.00 and gave the company a "buy" rating in a research report on Monday, September 8th. JPMorgan Chase & Co. upped their price objective on Broadcom from $325.00 to $400.00 and gave the company an "overweight" rating in a research report on Friday, September 5th. Finally, KeyCorp set a $460.00 price target on Broadcom in a report on Monday. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Broadcom currently has a consensus rating of "Buy" and a consensus target price of $370.07.

Insider Transactions at Broadcom

In other Broadcom news, Director Henry Samueli sold 368,797 shares of the business's 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 directly owned 37,722,534 shares in the company, valued at approximately $12,746,821,463.94. The trade was a 0.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 148,154 shares of the business's stock in a transaction dated 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 of the company's stock, valued at $278,088,746.66. This represents a 15.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders purchased 3,550 shares of company stock worth $1,227,869 and sold 664,471 shares worth $225,184,128. 2.00% of the stock is currently owned by insiders.

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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