Iams Wealth Management LLC Trims Stock Position in Broadcom Inc. $AVGO

Key Points

• Iams Wealth Management LLC reduced its stake in Broadcom Inc. by 15.3% during the second quarter, holding 10,566 shares valued at approximately $2.9 million, making it the firm's 13th largest position.
• Various institutional investors, including Sweeney & Michel LLC and Painted Porch Advisors LLC, altered their investments in Broadcom, with total institutional ownership at 76.43%.
• Wall Street analysts have increased their price targets for Broadcom, with some projections reaching as high as $400, reflecting a positive sentiment towards the company's growth potential.

Iams Wealth Management LLC lessened its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 15.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,566 shares of the semiconductor manufacturer's stock after selling 1,913 shares during the period. Broadcom accounts for approximately 1.3% of Iams Wealth Management LLC's portfolio, making the stock its 13th largest position. Iams Wealth Management LLC's holdings in Broadcom were worth $2,913,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Sweeney & Michel LLC purchased a new stake in shares of Broadcom in the 2nd quarter valued at about $304,000. Painted Porch Advisors LLC increased its position in Broadcom by 37.3% during the second quarter. Painted Porch Advisors LLC now owns 1,008 shares of the semiconductor manufacturer's stock worth $278,000 after buying an additional 274 shares during the period. Main Line Retirement Advisors LLC acquired a new stake in shares of Broadcom in the second quarter valued at approximately $252,000. Lewis Asset Management LLC grew its position in shares of Broadcom by 31.9% during the second quarter. Lewis Asset Management LLC now owns 13,568 shares of the semiconductor manufacturer's stock worth $3,740,000 after acquiring an additional 3,285 shares during the last quarter. Finally, Toth Financial Advisory Corp grew its position in shares of Broadcom by 1.8% during the second quarter. Toth Financial Advisory Corp now owns 35,377 shares of the semiconductor manufacturer's stock worth $9,752,000 after acquiring an additional 610 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

AVGO has been the subject of several research reports. Argus upped their price target 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. KeyCorp upped their target price on shares of Broadcom from $330.00 to $400.00 and gave the company an "overweight" rating in a report on Friday, September 5th. Barclays increased their target price on shares of Broadcom from $265.00 to $400.00 and gave the stock an "overweight" rating in a research note on Friday, September 5th. TD Cowen boosted their price target on Broadcom from $355.00 to $370.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Finally, Bank of America increased their price objective on Broadcom from $300.00 to $400.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Broadcom presently has an average rating of "Buy" and an average price target of $356.48.

Broadcom Trading Up 0.0%

Shares of AVGO opened at $338.94 on Wednesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $374.23. The stock has a market cap of $1.60 trillion, a price-to-earnings ratio of 86.46, a price-to-earnings-growth ratio of 1.87 and a beta of 1.16. The firm has a 50 day simple moving average of $310.48 and a 200-day simple moving average of $249.83.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.66 by $0.03. The firm had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.Broadcom's revenue was up 22.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. Equities analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

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

Insider Activity

In related news, CEO Hock E. Tan sold 148,154 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 825,998 shares of the company's stock, valued at approximately $278,088,746.66. The trade was a 15.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kirsten M. Spears sold 7,498 shares of the company's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the completion of the transaction, the chief financial officer owned 313,330 shares in the company, valued at approximately $108,932,307.80. This trade represents a 2.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have bought 3,550 shares of company stock worth $1,227,869 and have sold 240,274 shares worth $78,571,804. 2.00% of the stock is owned by company insiders.

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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