Precision Wealth Strategies LLC Lowers Stake in Broadcom Inc. $AVGO

Key Points

• Precision Wealth Strategies LLC reduced its stake in Broadcom Inc. by 69.8%, now owning 4,653 shares valued at approximately $1.28 million after selling 10,734 shares in the second quarter.
• Numerous analysts have upgraded their ratings on Broadcom, with the Goldman Sachs Group maintaining a "buy" rating and setting a target price of $340, while others have increased targets to as high as $400.
• Broadcom's CFO and another insider sold significant shares recently, with transactions indicating a decrease in their overall ownership in the company, amid a backdrop of institutional ownership at approximately 76.43%.

Precision Wealth Strategies LLC lowered its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 69.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,653 shares of the semiconductor manufacturer's stock after selling 10,734 shares during the quarter. Precision Wealth Strategies LLC's holdings in Broadcom were worth $1,283,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in AVGO. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Broadcom in the first quarter worth $25,000. Cheviot Value Management LLC purchased a new position in shares of Broadcom in the first quarter worth $25,000. Inlight Wealth Management LLC purchased a new position in shares of Broadcom in the first quarter worth $26,000. Sawyer & Company Inc lifted its holdings in shares of Broadcom by 62.1% in the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock worth $26,000 after buying an additional 36 shares in the last quarter. Finally, Legend Financial Advisors Inc. purchased a new position in shares of Broadcom in the second quarter worth $28,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analyst Upgrades and Downgrades

AVGO has been the topic of several research analyst reports. The Goldman Sachs Group reissued a "buy" rating and issued a $340.00 target price on shares of Broadcom in a report on Wednesday, August 13th. Sanford C. Bernstein boosted their price target on shares of Broadcom from $295.00 to $400.00 and gave the stock an "outperform" rating in a research report on Friday, September 5th. UBS Group boosted their price target on shares of Broadcom from $290.00 to $345.00 and gave the stock a "buy" rating in a research report on Monday, August 25th. Benchmark boosted their price objective on shares of Broadcom from $315.00 to $385.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Finally, Oppenheimer reiterated an "outperform" rating and set a $360.00 price objective (up previously from $325.00) on shares of Broadcom in a research report on Friday, September 5th. Three research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $357.22.

Insider Buying and Selling at Broadcom

In other Broadcom news, CFO Kirsten M. Spears sold 7,498 shares of the 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 of the company's stock, valued at approximately $108,932,307.80. This represents a 2.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 16,558 shares of the 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 sale, the insider directly owned 329,302 shares of the company's stock, valued at approximately $114,468,668.22. The trade was a 4.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders bought 3,550 shares of company stock valued at $1,227,869 and sold 666,071 shares valued at $225,623,008. Corporate insiders own 2.00% of the company's stock.

Broadcom Stock Up 0.1%

NASDAQ:AVGO opened at $338.37 on Monday. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $374.23. The company has a 50-day moving average of $318.43 and a 200 day moving average of $258.24. The firm has a market cap of $1.60 trillion, a PE ratio of 86.32, a price-to-earnings-growth ratio of 1.87 and a beta of 1.20. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data 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 company had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. During the same period in the prior year, the firm earned $1.24 earnings per share. The firm'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, research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, September 22nd. Broadcom's dividend payout ratio 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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