Inspire Investing LLC Sells 2,865 Shares of Broadcom Inc. $AVGO

Key Points

• Inspire Investing LLC reduced its stake in Broadcom Inc. by 16.3%, selling 2,865 shares and lowering its total holdings to 14,740 shares valued at approximately $2.47 million.
• Several large investors including CBIZ Investment Advisory Services and Nova Wealth Management increased their stakes in Broadcom, showing strong institutional interest with 76.43% of shares owned by institutional investors.
• Broadcom's stock has seen an upward revision in price targets by multiple analysts, with a consensus rating of "Buy" and an average price target of $351.92.

Inspire Investing LLC decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 16.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,740 shares of the semiconductor manufacturer's stock after selling 2,865 shares during the period. Inspire Investing LLC's holdings in Broadcom were worth $2,468,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Sunbeam Capital Management LLC bought a new position in shares of Broadcom in the fourth quarter worth $28,000. Vermillion Wealth Management Inc. bought a new position in shares of Broadcom in the fourth quarter worth $30,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Broadcom in the first quarter worth $25,000. Cheviot Value Management LLC acquired a new stake in Broadcom in the first quarter valued at about $25,000. Finally, Inlight Wealth Management LLC bought a new position in Broadcom in the first quarter valued at about $26,000. Institutional investors own 76.43% of the company's stock.

Broadcom Trading Up 0.1%

Shares of AVGO stock traded up $0.24 during mid-day trading on Friday, reaching $359.87. 31,929,014 shares of the stock traded hands, compared to its average volume of 25,328,086. The stock's fifty day simple moving average is $300.31 and its two-hundred day simple moving average is $242.19. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $374.23. The company has a market cap of $1.69 trillion, a price-to-earnings ratio of 91.80, a price-to-earnings-growth ratio of 1.99 and a beta of 1.16. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS 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 firm had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. During the same period last year, the firm posted $1.24 earnings per share. The business'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 anticipate 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 $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 is Monday, September 22nd. Broadcom's payout ratio is currently 60.20%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AVGO shares. Arete Research upgraded Broadcom to a "strong-buy" rating in a research report on Monday, July 28th. Oppenheimer reiterated an "outperform" rating and issued a $360.00 target price (up previously from $325.00) on shares of Broadcom in a research report on Friday, September 5th. Citigroup lifted their target price on Broadcom from $315.00 to $350.00 and gave the company a "buy" rating in a research report on Friday, September 5th. KeyCorp lifted their target price on Broadcom from $330.00 to $400.00 and gave the company an "overweight" rating in a research report on Friday, September 5th. Finally, Redburn Atlantic started coverage on Broadcom in a research report on Wednesday, May 28th. They issued a "buy" rating and a $301.00 target price on the stock. Three analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $354.04.

Insider Buying and Selling

In related news, CFO Kirsten M. Spears sold 56,310 shares of Broadcom stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $251.75, for a total value of $14,176,042.50. Following the transaction, the chief financial officer directly owned 361,937 shares of the company's stock, valued at $91,117,639.75. The trade was a 13.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hock E. Tan sold 148,154 shares of Broadcom stock in a transaction that occurred on Wednesday, September 10th. The stock was 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 directly owned 825,998 shares in the company, valued at approximately $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 90 days, insiders acquired 3,550 shares of company stock valued at $1,227,869 and sold 850,912 shares valued at $234,854,489. Insiders own 2.00% of the company's stock.

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.