Mirabaud & Cie SA Trims Stock Position in Broadcom Inc. $AVGO

Key Points

• Mirabaud & Cie SA reduced its holdings in Broadcom Inc. by 57.7% during the second quarter, owning 14,205 shares after selling 19,382 shares.
• CEO Hock E. Tan sold 148,154 shares for a total of approximately $49.88 million, representing a 15.21% decrease in his ownership.
• Broadcom reported earnings of $1.69 per share, beating expectations, with revenue growing 22.0% year-over-year to $15.95 billion.

Mirabaud & Cie SA cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 57.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,205 shares of the semiconductor manufacturer's stock after selling 19,382 shares during the quarter. Broadcom comprises approximately 1.2% of Mirabaud & Cie SA's portfolio, making the stock its 16th biggest holding. Mirabaud & Cie SA's holdings in Broadcom were worth $3,916,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AVGO. Barnes Dennig Private Wealth Management LLC acquired a new stake in Broadcom during the first quarter worth about $25,000. Cheviot Value Management LLC acquired a new position in shares of Broadcom during the first quarter worth $25,000. Inlight Wealth Management LLC acquired a new stake in Broadcom during the 1st quarter valued at approximately $26,000. Sunbeam Capital Management LLC acquired a new stake in Broadcom during the 4th quarter valued at approximately $28,000. Finally, Vermillion Wealth Management Inc. acquired a new stake in Broadcom during the 4th quarter valued at approximately $30,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Broadcom news, CEO Hock E. Tan sold 148,154 shares of the business's stock in a transaction dated 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 sale, the chief executive officer owned 825,998 shares of the company's stock, valued at $278,088,746.66. The trade was a 15.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Harry L. You purchased 500 shares of Broadcom stock in a transaction on Wednesday, September 10th. The stock was bought at an average cost of $363.38 per share, with a total value of $181,690.00. Following the transaction, the director directly owned 35,602 shares of the company's stock, valued at approximately $12,937,054.76. The trade was a 1.42% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 3,550 shares of company stock valued at $1,227,869 and have sold 850,112 shares valued at $234,654,209. Company insiders own 2.00% of the company's stock.

Analyst Ratings Changes

AVGO has been the topic of a number of research analyst reports. Rosenblatt Securities increased their target price on Broadcom from $340.00 to $400.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Hsbc Global Res raised Broadcom from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 24th. Wells Fargo & Company lifted their target price on Broadcom from $255.00 to $345.00 and gave the company an "equal weight" rating in a research note on Friday, September 5th. Truist Financial boosted their price objective on Broadcom from $295.00 to $365.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Finally, Morgan Stanley boosted their price objective on Broadcom from $338.00 to $357.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 2nd. Three investment analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $354.04.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $359.87 on Monday. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $1.70 trillion, a price-to-earnings ratio of 91.80, a PEG ratio of 1.99 and a beta of 1.16. The stock's fifty day simple moving average is $300.31 and its 200 day simple moving average is $242.50. 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 issued its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share 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 business had revenue of $15.95 billion for the quarter, compared to the consensus estimate of $15.82 billion. During the same quarter in the previous year, the company posted $1.24 earnings per share. Broadcom's revenue for the quarter was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. As a group, sell-side analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 22nd will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Broadcom's dividend payout ratio (DPR) is presently 60.20%.

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.

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