SOA Wealth Advisors LLC. Sells 1,801 Shares of Broadcom Inc. $AVGO

Key Points

• SOA Wealth Advisors LLC decreased its stake in Broadcom Inc. by 9.9%, selling 1,801 shares during the second quarter, leaving them with 16,420 shares valued at $4,526,000.
• Analysts have raised their price targets for Broadcom, with Barclays setting a new target of $400, and a consensus rating of "Buy" based on the projected average target price of $357.22.
• Broadcom reported quarterly earnings with an EPS of $1.69, exceeding expectations, as its revenue rose 22.0% year-over-year to $15.95 billion.

SOA Wealth Advisors LLC. lessened its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 9.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,420 shares of the semiconductor manufacturer's stock after selling 1,801 shares during the period. SOA Wealth Advisors LLC.'s holdings in Broadcom were worth $4,526,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Broadcom in the 1st quarter valued at about $25,000. Cheviot Value Management LLC bought a new position in Broadcom during the 1st quarter valued at approximately $25,000. Inlight Wealth Management LLC bought a new position in Broadcom during the 1st quarter valued at approximately $26,000. Sawyer & Company Inc raised its position in Broadcom by 62.1% during the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock valued at $26,000 after purchasing an additional 36 shares during the last quarter. Finally, Legend Financial Advisors Inc. bought a new position in Broadcom during the 2nd quarter valued at approximately $28,000. Institutional investors own 76.43% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Barclays upped their price target on Broadcom from $265.00 to $400.00 and gave the company an "overweight" rating in a research report on Friday, September 5th. Truist Financial upped their price target on Broadcom from $295.00 to $365.00 and gave the company a "buy" rating in a research report on Friday, September 5th. KeyCorp reaffirmed an "overweight" rating and set a $420.00 price target (up previously from $400.00) on shares of Broadcom in a research report on Tuesday, September 30th. Morgan Stanley upped their price target on Broadcom from $338.00 to $357.00 and gave the company an "overweight" rating in a research report on Tuesday, September 2nd. Finally, UBS Group upped their price target on Broadcom from $290.00 to $345.00 and gave the company a "buy" rating in a research report on Monday, August 25th. 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 data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $357.22.

Broadcom Stock Performance

AVGO stock opened at $338.37 on Monday. The stock has a market capitalization 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. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $374.23. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. The stock's 50 day simple moving average is $318.43 and its 200 day simple moving average is $258.24.

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 (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.03. The business had revenue of $15.95 billion for 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%.The firm's quarterly revenue was up 22.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. As a group, research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

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

Insiders Place Their Bets

In related news, CEO Hock E. Tan sold 148,154 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 825,998 shares of the company's stock, valued at approximately $278,088,746.66. This represents a 15.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Henry Samueli sold 368,797 shares of the company's stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $337.91, for a total value of $124,620,194.27. Following the completion of the transaction, the director directly owned 37,722,534 shares in the company, valued at $12,746,821,463.94. This trade represents a 0.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders purchased 3,550 shares of company stock worth $1,227,869 and sold 666,071 shares worth $225,623,008. 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.

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