Insight Wealth Strategies LLC Cuts Holdings in Broadcom Inc. $AVGO

Key Points

• Insight Wealth Strategies LLC reduced its stake in Broadcom Inc. by 16.1% in Q2, selling 4,022 shares for a total of $5,545,000.
• Several major investors, including Vanguard Group and Price T Rowe Associates, have increased their holdings in Broadcom during Q1, indicating strong institutional interest.
• Broadcom recently reported higher-than-expected quarterly earnings and declared a $0.59 quarterly dividend, showcasing robust financial performance and shareholder returns.

Insight Wealth Strategies LLC decreased its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 16.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,943 shares of the semiconductor manufacturer's stock after selling 4,022 shares during the quarter. Insight Wealth Strategies LLC's holdings in Broadcom were worth $5,545,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Broadcom by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer's stock worth $79,900,968,000 after purchasing an additional 2,085,534 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Broadcom by 37.8% in 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. Nuveen LLC purchased a new position in shares of Broadcom in the 1st quarter valued at about $6,649,117,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Broadcom by 2.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 35,243,467 shares of the semiconductor manufacturer's stock valued at $5,900,814,000 after acquiring an additional 842,088 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Broadcom by 1.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 34,401,379 shares of the semiconductor manufacturer's stock valued at $7,975,616,000 after acquiring an additional 581,704 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insiders Place Their Bets

In other news, Director Henry Samueli sold 473,898 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total value of $125,739,356.34. Following the completion of the sale, the director directly owned 38,188,575 shares of the company's stock, valued at $10,132,574,604.75. This trade represents a 1.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Hock E. Tan sold 148,154 shares of the firm's stock in a transaction that occurred on 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 sale, the chief executive officer directly 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. Over the last ninety days, insiders acquired 3,550 shares of company stock worth $1,227,869 and sold 850,912 shares worth $234,854,489. 2.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on AVGO. Piper Sandler increased their price objective on Broadcom from $315.00 to $375.00 and gave the company an "overweight" rating in a report on Friday, September 5th. Barclays increased their price objective on Broadcom from $265.00 to $400.00 and gave the company an "overweight" rating in a report on Friday, September 5th. HSBC upgraded Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price target on the stock in a research note on Tuesday, June 24th. Evercore ISI restated an "outperform" rating and set a $342.00 price target (up previously from $304.00) on shares of Broadcom in a research note on Thursday, September 4th. Finally, UBS Group raised their price target on Broadcom from $290.00 to $345.00 and gave the stock a "buy" rating in a research note on Monday, August 25th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Broadcom presently has a consensus rating of "Buy" and an average target price of $354.04.

Broadcom Stock Up 0.1%

Broadcom stock opened at $359.87 on Friday. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $374.23. The stock has a 50 day moving average of $300.31 and a two-hundred day moving average of $242.19. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $1.69 trillion, a price-to-earnings ratio of 91.80, a PEG ratio of 1.99 and a beta of 1.16.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, topping 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 company had revenue of $15.95 billion during the quarter, compared to analysts' expectations of $15.82 billion. During the same period last year, the firm earned $1.24 EPS. The firm's revenue for the quarter was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. As a group, research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be issued 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 is Monday, September 22nd. Broadcom's dividend payout ratio (DPR) is currently 60.20%.

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.

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