Mirae Asset Global Investments Co. Ltd. Sells 176,766 Shares of Broadcom Inc. $AVGO

Key Points

• Mirae Asset Global Investments Co. Ltd. decreased its holdings in Broadcom Inc. by 5.3%, selling 176,766 shares, which now represents 3.0% of its portfolio.
• Several major institutional investors, including Nuveen LLC and Goldman Sachs Group Inc., have recently increased their positions in Broadcom, highlighting strong interest in the company's stock.
• Broadcom's quarterly earnings exceeded expectations, reporting $1.69 EPS on $15.95 billion in revenue, with a dividend of $0.59 recently declared, yielding 0.7% annually.

Mirae Asset Global Investments Co. Ltd. trimmed its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 5.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,131,699 shares of the semiconductor manufacturer's stock after selling 176,766 shares during the quarter. Broadcom accounts for 3.0% of Mirae Asset Global Investments Co. Ltd.'s portfolio, making the stock its 6th largest position. Mirae Asset Global Investments Co. Ltd. owned approximately 0.07% of Broadcom worth $863,253,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Nuveen LLC bought a new position in shares of Broadcom during the 1st quarter valued at about $6,649,117,000. Price T Rowe Associates Inc. MD raised its holdings in Broadcom by 37.8% during the 1st 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 period. Goldman Sachs Group Inc. raised its holdings in Broadcom by 16.7% during the 1st 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 period. Deutsche Bank AG lifted its stake in Broadcom by 36.9% in the first quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer's stock valued at $2,638,512,000 after buying an additional 4,245,345 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its holdings 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 valued at $4,941,498,000 after buying an additional 4,077,910 shares during the period. Institutional investors own 76.43% of the company's stock.

Insider Buying and Selling

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 transaction of $5,755,726.38. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kirsten M. Spears sold 7,498 shares of the company's stock in a transaction dated 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 directly owned 313,330 shares in the company, valued at approximately $108,932,307.80. The trade was a 2.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 3,550 shares of company stock worth $1,227,869 and have sold 666,071 shares worth $225,623,008. Insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. KeyCorp restated an "overweight" rating and set a $420.00 price objective (up from $400.00) on shares of Broadcom in a report on Tuesday, September 30th. Evercore ISI restated an "outperform" rating and issued a $342.00 price target (up from $304.00) on shares of Broadcom in a report on Thursday, September 4th. Bank of America upped their price objective on Broadcom from $300.00 to $400.00 and gave the stock a "buy" rating 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. Finally, Truist Financial upped their price target on Broadcom from $295.00 to $365.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $357.22.

Broadcom Stock Down 0.9%

AVGO stock opened at $335.49 on Tuesday. 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 business has a 50 day moving average price of $319.25 and a two-hundred day moving average price of $259.24. The company has a market cap of $1.58 trillion, a price-to-earnings ratio of 85.58, a P/E/G ratio of 1.87 and a beta of 1.20. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $374.23.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data 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 analysts' expectations of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The business's revenue was up 22.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. Analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were paid a $0.59 dividend. The ex-dividend date was 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 currently 60.20%.

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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