LGT Fund Management Co Ltd. Trims Holdings in Broadcom Inc. $AVGO

Key Points

• LGT Fund Management Co Ltd. reduced its holdings in Broadcom Inc. by 50% in the second quarter, bringing their total shares to 59,232, representing 1.4% of their portfolio.
• Other institutional investors, such as PARUS FINANCE UK Ltd, increased their stakes in Broadcom significantly during the same period, with PARUS growing its holdings by 175.3%.
• Broadcom's recent earnings report revealed an EPS of $1.69, exceeding analyst expectations, with a quarterly revenue of $15.95 billion, marking a 22% increase year-over-year.

LGT Fund Management Co Ltd. lessened its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 50.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,232 shares of the semiconductor manufacturer's stock after selling 59,333 shares during the period. Broadcom comprises 1.4% of LGT Fund Management Co Ltd.'s portfolio, making the stock its 17th largest holding. LGT Fund Management Co Ltd.'s holdings in Broadcom were worth $16,327,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. PARUS FINANCE UK Ltd grew its holdings in Broadcom by 175.3% in the 1st quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer's stock valued at $16,840,000 after buying an additional 64,038 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of Broadcom by 27.9% during the first quarter. Geneos Wealth Management Inc. now owns 64,130 shares of the semiconductor manufacturer's stock worth $10,737,000 after purchasing an additional 13,978 shares in the last quarter. Asio Capital LLC increased its position in shares of Broadcom by 2.0% during the second quarter. Asio Capital LLC now owns 54,459 shares of the semiconductor manufacturer's stock worth $15,012,000 after acquiring an additional 1,089 shares during the last quarter. Keener Financial Planning LLC boosted its stake in shares of Broadcom by 34.8% during the 1st quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer's stock valued at $149,000 after buying an additional 230 shares during the last quarter. Finally, Diversify Wealth Management LLC increased its position in shares of Broadcom by 5.6% in the 1st quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer's stock worth $6,365,000 after purchasing an additional 2,016 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom Stock Performance

Broadcom stock opened at $345.50 on Thursday. 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 firm has a market capitalization of $1.63 trillion, a P/E ratio of 88.14, a P/E/G ratio of 1.86 and a beta of 1.20. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $374.23. The stock has a fifty day moving average price of $320.89 and a two-hundred day moving average price of $260.37.

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 company had revenue of $15.95 billion during the quarter, compared to analysts' expectations of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. Broadcom's quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. As a group, analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were paid 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 dividend payout ratio (DPR) is 60.20%.

Insider Buying and Selling

In other news, CFO Kirsten M. Spears sold 7,498 shares of Broadcom stock in a transaction that occurred on 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 sale, the chief financial officer owned 313,330 shares in the company, valued at $108,932,307.80. The trade was a 2.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Hock E. Tan sold 148,154 shares of the stock in a transaction 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 transaction, the chief executive officer directly 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 ninety days, insiders have purchased 3,550 shares of company stock worth $1,227,869 and have sold 666,071 shares worth $225,623,008. Company insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of recent research reports. Piper Sandler raised their price target on shares of Broadcom from $315.00 to $375.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. Truist Financial raised their price objective on shares of Broadcom from $295.00 to $365.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Hsbc Global Res upgraded shares of Broadcom from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 24th. Wells Fargo & Company increased their price target on shares of Broadcom from $255.00 to $345.00 and gave the stock an "equal weight" rating in a research report on Friday, September 5th. Finally, Wall Street Zen upgraded Broadcom from a "hold" rating to a "buy" rating in a report on Saturday, September 6th. 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. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $357.22.

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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