Manchester Financial Inc. Raises Position in Broadcom Inc. $AVGO

Key Points

• Manchester Financial Inc. increased its stake in Broadcom Inc. by 39.3% in Q2, now owning 6,680 shares valued at approximately $1.84 million.
• Insider Mark David Brazeal sold 16,558 shares at an average price of $347.61, reducing his position by 4.79%, while CEO Hock E. Tan sold 100,000 shares at $339.58, a 12.11% decrease in ownership.
• Broadcom's stock has a current market cap of $1.63 trillion and analysts have set price targets ranging from $400 to $460, indicating potential upside for investors.

Manchester Financial Inc. raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 39.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,680 shares of the semiconductor manufacturer's stock after acquiring an additional 1,883 shares during the quarter. Manchester Financial Inc.'s holdings in Broadcom were worth $1,841,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Broadcom during the 1st quarter valued at $25,000. Cheviot Value Management LLC bought a new stake in shares of Broadcom during the 1st quarter valued at $25,000. Sawyer & Company Inc raised its position in shares of Broadcom by 62.1% during the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock valued at $26,000 after purchasing an additional 36 shares during the period. Legend Financial Advisors Inc. bought a new stake in shares of Broadcom during the 2nd quarter valued at $28,000. Finally, Wood Tarver Financial Group LLC raised its position in shares of Broadcom by 342.5% during the 1st quarter. Wood Tarver Financial Group LLC now owns 177 shares of the semiconductor manufacturer's stock valued at $30,000 after purchasing an additional 137 shares during the period. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 16,558 shares of the business's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total value of $5,755,726.38. Following the sale, the insider directly owned 329,302 shares in the company, valued at $114,468,668.22. The trade was a 4.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Hock E. Tan sold 100,000 shares of the business's stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $339.58, for a total transaction of $33,958,000.00. Following the completion of the sale, the chief executive officer owned 725,638 shares in the company, valued at approximately $246,412,152.04. This trade represents a 12.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 3,550 shares of company stock worth $1,227,869 and sold 665,271 shares worth $225,464,248. Corporate insiders own 2.00% of the company's stock.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $344.29 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. The company has a market cap of $1.63 trillion, a P/E ratio of 87.83, a P/E/G ratio of 1.92 and a beta of 1.20. The firm's fifty day moving average is $330.52 and its two-hundred day moving average is $273.74. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $374.23.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results 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 net margin of 31.59% and a return on equity of 36.60%. The firm had revenue of $15.95 billion for the quarter, compared to the consensus estimate of $15.82 billion. During the same period in the previous year, the firm posted $1.24 EPS. The business's quarterly revenue was up 22.0% on a year-over-year basis. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were issued a $0.59 dividend. The ex-dividend date was Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom's payout ratio is 60.20%.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several recent analyst reports. Rosenblatt Securities raised their price objective on shares of Broadcom from $340.00 to $400.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Deutsche Bank Aktiengesellschaft set a $400.00 price objective on shares of Broadcom and gave the company a "buy" rating in a research report on Tuesday, October 14th. Weiss Ratings downgraded shares of Broadcom from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, October 8th. Macquarie started coverage on shares of Broadcom in a report on Monday, September 15th. They issued an "outperform" rating and a $420.00 price target on the stock. Finally, KeyCorp set a $460.00 price target on shares of Broadcom in a report on Monday, October 13th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $372.52.

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.

Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.