Broadcom Inc. $AVGO Holdings Decreased by Modern Wealth Management LLC

Key Points

• Modern Wealth Management LLC reduced its stake in Broadcom Inc. by 3.4%, holding 21,139 shares valued at approximately $3.54 million.
• Broadcom's stock has received several analyst upgrades, with target prices now ranging from $350 to $400, and a consensus rating of "Buy".
• The company reported a 22% year-over-year revenue increase for the quarter, along with an earnings per share (EPS) of $1.69, beating expectations.

Modern Wealth Management LLC lowered its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.4% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,139 shares of the semiconductor manufacturer's stock after selling 745 shares during the period. Modern Wealth Management LLC's holdings in Broadcom were worth $3,539,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Broadcom in the first quarter valued at approximately $25,000. Cheviot Value Management LLC purchased a new stake in shares of Broadcom during the first quarter worth approximately $25,000. Inlight Wealth Management LLC purchased a new stake in shares of Broadcom during the first quarter worth approximately $26,000. Sunbeam Capital Management LLC purchased a new stake in shares of Broadcom during the fourth quarter worth approximately $28,000. Finally, Vermillion Wealth Management Inc. purchased a new stake in shares of Broadcom during the fourth quarter worth approximately $30,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on AVGO. Macquarie assumed coverage on Broadcom in a research note on Monday. They set an "outperform" rating and a $420.00 price target for the company. Piper Sandler increased their price objective on Broadcom from $315.00 to $375.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. The Goldman Sachs Group reiterated a "buy" rating and issued a $340.00 price objective on shares of Broadcom in a research report on Wednesday, August 13th. Rosenblatt Securities raised their price target on Broadcom from $340.00 to $400.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Finally, Evercore ISI restated an "outperform" rating and issued a $342.00 price target (up previously from $304.00) on shares of Broadcom in a research report on Thursday, September 4th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $356.48.

Broadcom Stock Down 1.0%

Shares of NASDAQ:AVGO traded down $3.53 during mid-day trading on Tuesday, hitting $360.56. 14,359,356 shares of the company traded hands, compared to its average volume of 26,235,408. The firm has a market cap of $1.70 trillion, a P/E ratio of 91.89, a PEG ratio of 1.99 and a beta of 1.16. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $374.23. The firm's 50 day simple moving average is $302.11 and its 200 day simple moving average is $243.65.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, beating the consensus estimate 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 period last year, the business posted $1.24 EPS. The company's revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. On average, equities analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

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

Insider Buying and Selling

In related news, insider Mark David Brazeal sold 50,000 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $253.28, for a total transaction of $12,664,000.00. Following the completion of the transaction, the insider owned 415,956 shares in the company, valued at $105,353,335.68. The trade was a 10.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gayla J. Delly sold 3,000 shares of the business's stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $265.13, for a total value of $795,390.00. Following the transaction, the director owned 33,352 shares of the company's stock, valued at $8,842,615.76. This represents a 8.25% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 3,550 shares of company stock worth $1,227,869 and have sold 850,112 shares worth $234,654,209. Insiders own 2.00% of the company's stock.

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.