Nova Wealth Management Inc. cut its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 32.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,836 shares of the semiconductor manufacturer's stock after selling 874 shares during the period. Nova Wealth Management Inc.'s holdings in Broadcom were worth $506,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently added to or reduced their stakes in the stock. Waddell & Associates LLC increased its position in Broadcom by 2.1% during the first quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer's stock worth $350,000 after purchasing an additional 43 shares during the last quarter. Challenger Wealth Management raised its position in shares of Broadcom by 1.3% during the 1st quarter. Challenger Wealth Management now owns 3,504 shares of the semiconductor manufacturer's stock valued at $587,000 after buying an additional 45 shares during the period. True Wealth Design LLC lifted its holdings in Broadcom by 7.2% in the fourth quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock valued at $165,000 after acquiring an additional 48 shares during the last quarter. Wescott Financial Advisory Group LLC grew its position in Broadcom by 3.8% in the first quarter. Wescott Financial Advisory Group LLC now owns 1,326 shares of the semiconductor manufacturer's stock worth $222,000 after acquiring an additional 48 shares during the period. Finally, Martingale Asset Management L P raised its position in Broadcom by 1.3% in the first quarter. Martingale Asset Management L P now owns 3,876 shares of the semiconductor manufacturer's stock valued at $649,000 after purchasing an additional 48 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.
Broadcom Stock Performance
NASDAQ:AVGO opened at $359.87 on Friday. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $374.23. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. The firm has a market capitalization of $1.69 trillion, a PE ratio of 91.80, a price-to-earnings-growth ratio of 1.99 and a beta of 1.16. The business's fifty day moving average price is $300.31 and its 200 day moving average price is $242.19.
Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.03. The business had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The business's quarterly revenue was up 22.0% on a year-over-year basis. During the same quarter last year, the company earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. On average, sell-side analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.
Broadcom Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be issued 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 is presently 60.20%.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on the company. Oppenheimer reissued an "outperform" rating and set a $360.00 price objective (up from $325.00) on shares of Broadcom in a research report on Friday, September 5th. The Goldman Sachs Group restated a "buy" rating and issued a $340.00 price objective on shares of Broadcom in a report on Wednesday, August 13th. Bank of America increased their target price on Broadcom from $300.00 to $400.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $300.00 target price on shares of Broadcom in a research note on Friday, June 6th. Finally, Redburn Atlantic assumed coverage on shares of Broadcom in a research note on Wednesday, May 28th. They issued a "buy" rating and a $301.00 price target for the company. Three investment analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $354.04.
Check Out Our Latest Analysis on Broadcom
Insider Transactions at Broadcom
In related news, CEO Hock E. Tan sold 148,154 shares of the company'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 directly owned 825,998 shares of the company's stock, valued at $278,088,746.66. This represents a 15.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark David Brazeal sold 50,000 shares of the firm'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 value of $12,664,000.00. Following the transaction, the insider owned 415,956 shares in the company, valued at $105,353,335.68. This represents a 10.73% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders bought 3,550 shares of company stock worth $1,227,869 and sold 850,912 shares worth $234,854,489. Corporate insiders own 2.00% of the company's stock.
About Broadcom
(
Free Report)
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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