Louisiana State Employees Retirement System Sells 3,000 Shares of Broadcom Inc. $AVGO

Key Points

• The Louisiana State Employees Retirement System decreased its stake in Broadcom Inc. by 0.6%, selling 3,000 shares and holding 479,300 shares worth approximately $132 million at the end of the last quarter.
• Several hedge funds significantly increased their positions in Broadcom, including Price T Rowe Associates, which boosted its stake by 37.8%, bringing its total holdings to over $10.9 billion.
• Analysts have upgraded Broadcom's stock to "buy" or "strong-buy," with a consensus price target of $357.22 following positive quarterly earnings results that exceeded expectations.

Louisiana State Employees Retirement System cut its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 0.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 479,300 shares of the semiconductor manufacturer's stock after selling 3,000 shares during the period. Broadcom makes up 2.4% of Louisiana State Employees Retirement System's holdings, making the stock its 6th largest position. Louisiana State Employees Retirement System's holdings in Broadcom were worth $132,119,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of AVGO. Nuveen LLC acquired a new position in shares of Broadcom in the first quarter valued at about $6,649,117,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Broadcom by 37.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer's stock worth $10,968,270,000 after buying an additional 17,985,046 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Broadcom by 16.7% in the first quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer's stock worth $5,333,384,000 after buying 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 first 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% in the first quarter. Alliancebernstein L.P. now owns 29,513,814 shares of the semiconductor manufacturer's stock worth $4,941,498,000 after buying an additional 4,077,910 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. HSBC upgraded Broadcom from a "hold" rating to a "buy" rating and set a $400.00 target price on the stock in a research note on Tuesday, June 24th. Hsbc Global Res upgraded Broadcom from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 24th. Wall Street Zen upgraded Broadcom from a "hold" rating to a "buy" rating in a research note on Saturday, September 6th. Macquarie assumed coverage on Broadcom in a research note on Monday, September 15th. They issued an "outperform" rating and a $420.00 target price on the stock. Finally, Rosenblatt Securities upped their target price on Broadcom from $340.00 to $400.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, Broadcom has an average rating of "Buy" and a consensus price target of $357.22.

Insiders Place Their Bets

In other news, CFO Kirsten M. Spears sold 7,498 shares of the firm's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total value of $2,606,754.68. Following the transaction, the chief financial officer owned 313,330 shares in the company, valued at $108,932,307.80. This trade represents a 2.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Charlie B. Kawwas sold 3,893 shares of the firm's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total value of $1,354,063.26. Following the completion of the transaction, the insider owned 25,295 shares in the company, valued at approximately $8,798,106.90. This trade represents a 13.34% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 3,550 shares of company stock valued at $1,227,869 and have sold 664,471 shares valued at $225,184,128. 2.00% of the stock is owned by insiders.

Broadcom Stock Performance

Shares of AVGO stock opened at $324.63 on Monday. The company has a market capitalization of $1.53 trillion, a P/E ratio of 82.81, a P/E/G ratio of 1.80 and a beta of 1.20. The business's 50 day moving average is $322.64 and its two-hundred day moving average is $263.58. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $374.23.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.66 by $0.03. The company had revenue of $15.95 billion for the quarter, compared to the consensus estimate of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.Broadcom's revenue for the quarter was up 22.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. Analysts expect 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 given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, September 22nd. Broadcom's dividend payout ratio (DPR) is 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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