Ridgecrest Wealth Partners LLC decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 86.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,793 shares of the semiconductor manufacturer's stock after selling 24,609 shares during the period. Ridgecrest Wealth Partners LLC's holdings in Broadcom were worth $1,046,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also made changes to their positions in AVGO. Brighton Jones LLC raised its position in Broadcom by 21.8% in the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock worth $6,882,000 after purchasing an additional 5,322 shares during the period. Revolve Wealth Partners LLC grew its stake in shares of Broadcom by 10.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock valued at $1,854,000 after buying an additional 756 shares during the last quarter. Fire Capital Management LLC purchased a new stake in shares of Broadcom in the fourth quarter worth approximately $1,490,000. Milestone Asset Management Group LLC purchased a new stake in shares of Broadcom in the fourth quarter worth approximately $581,000. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in shares of Broadcom by 9.5% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 206,671 shares of the semiconductor manufacturer's stock worth $34,603,000 after acquiring an additional 17,973 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.
Broadcom Stock Down 0.9%
Shares of Broadcom stock opened at $336.10 on Friday. 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 stock has a market cap of $1.59 trillion, a price-to-earnings ratio of 85.74, a PEG ratio of 1.88 and a beta of 1.16. The firm's 50-day moving average is $312.64 and its two-hundred day moving average is $251.49. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $374.23.
Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly 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. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The firm had revenue of $15.95 billion during the quarter, compared to analysts' expectations of $15.82 billion. During the same quarter in the prior year, the company earned $1.24 EPS. The company's revenue 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 expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.
Broadcom Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, September 22nd. Broadcom's dividend payout ratio (DPR) is 60.20%.
Insiders Place Their Bets
In other news, CEO Hock E. Tan sold 148,154 shares of the business's stock in a transaction on 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 transaction, the chief executive officer directly owned 825,998 shares of the company's stock, valued at approximately $278,088,746.66. The trade was a 15.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Charlie B. Kawwas sold 3,893 shares of the company's stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total value of $1,354,063.26. Following the sale, the insider owned 25,295 shares of the company's stock, valued at $8,798,106.90. This trade represents a 13.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders bought 3,550 shares of company stock worth $1,227,869 and sold 297,274 shares worth $101,002,814. 2.00% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
Several equities analysts have commented on the company. Hsbc Global Res raised Broadcom from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, June 24th. Arete Research upgraded shares of Broadcom to a "strong-buy" rating in a report on Monday, July 28th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $340.00 price target on shares of Broadcom in a research note on Wednesday, August 13th. Truist Financial lifted their price objective on shares of Broadcom from $295.00 to $365.00 and gave the company a "buy" rating in a report on Friday, September 5th. Finally, Macquarie assumed coverage on shares of Broadcom in a research note on Monday, September 15th. They issued an "outperform" rating and a $420.00 target price on the stock. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $356.48.
Get Our Latest Research Report on Broadcom
Broadcom Profile
(
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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