Robbins Farley Sells 5,501 Shares of Broadcom Inc. $AVGO

Key Points

• Robbins Farley has reduced its stake in Broadcom Inc. by 18.5%, selling 5,501 shares, and now holds 24,226 shares worth approximately $6,678,000.
• Broadcom reported $1.69 earnings per share (EPS) for the last quarter, exceeding expectations, with revenues of $15.95 billion, reflecting a 22% increase year-over-year.
• Analysts have raised Broadcom's target price, with many giving it a "buy" rating, leading to a consensus price target of $357.22.

Robbins Farley trimmed its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 18.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,226 shares of the semiconductor manufacturer's stock after selling 5,501 shares during the period. Broadcom accounts for about 3.1% of Robbins Farley's investment portfolio, making the stock its 5th largest position. Robbins Farley's holdings in Broadcom were worth $6,678,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new position in Broadcom in the 1st quarter valued at $6,649,117,000. Price T Rowe Associates Inc. MD boosted its holdings in Broadcom by 37.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer's stock valued at $10,968,270,000 after acquiring an additional 17,985,046 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Broadcom by 16.7% in the first quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer's stock valued at $5,333,384,000 after purchasing an additional 4,550,647 shares during the last quarter. Deutsche Bank AG increased its stake in shares of Broadcom by 36.9% in the first quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer's stock worth $2,638,512,000 after purchasing an additional 4,245,345 shares during the period. Finally, Alliancebernstein L.P. lifted its position in shares of Broadcom by 16.0% during the 1st quarter. Alliancebernstein L.P. now owns 29,513,814 shares of the semiconductor manufacturer's stock worth $4,941,498,000 after purchasing an additional 4,077,910 shares during the last quarter. Institutional investors own 76.43% of the company's stock.

Broadcom Stock Up 0.1%

Shares of AVGO opened at $338.37 on Friday. 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 company has a 50-day moving average price of $318.43 and a two-hundred day moving average price of $257.34. The stock has a market cap of $1.60 trillion, a price-to-earnings ratio of 86.32, a P/E/G ratio of 1.87 and a beta of 1.20. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $374.23.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results 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 business had revenue of $15.95 billion during 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%.Broadcom's quarterly revenue was up 22.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. Equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

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

Insiders Place Their Bets

In other news, CEO Hock E. Tan sold 100,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $339.58, for a total transaction of $33,958,000.00. Following the completion of the sale, the chief executive officer owned 725,638 shares of the company's stock, valued at approximately $246,412,152.04. This trade represents a 12.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Mark David Brazeal sold 16,558 shares of Broadcom stock in a transaction that occurred on 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 completion of the transaction, the insider owned 329,302 shares of the company's stock, valued at $114,468,668.22. This trade represents a 4.79% decrease in their position. The disclosure for this sale can be found here. In 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. 2.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

AVGO has been the topic of a number of research analyst reports. Benchmark raised their target price on Broadcom from $315.00 to $385.00 and gave the company a "buy" rating in a report on Friday, September 5th. Truist Financial raised their price objective on shares of Broadcom from $295.00 to $365.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Piper Sandler upped their target price on shares of Broadcom from $315.00 to $375.00 and gave the company an "overweight" rating in a research note on Friday, September 5th. Susquehanna raised their price target on shares of Broadcom from $280.00 to $300.00 and gave the stock a "positive" rating in a research report on Friday, June 6th. Finally, Arete Research raised shares of Broadcom to a "strong-buy" rating in a research report on Monday, July 28th. Three investment analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $357.22.

Broadcom Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.