Spinnaker Investment Group LLC decreased its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 8.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 18,493 shares of the semiconductor manufacturer's stock after selling 1,692 shares during the period. Broadcom comprises approximately 1.2% of Spinnaker Investment Group LLC's portfolio, making the stock its 13th biggest holding. Spinnaker Investment Group LLC's holdings in Broadcom were worth $5,098,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Broadcom in the first quarter worth approximately $25,000. Cheviot Value Management LLC bought a new position in shares of Broadcom in the first quarter worth approximately $25,000. Inlight Wealth Management LLC bought a new position in shares of Broadcom in the first quarter worth approximately $26,000. Sawyer & Company Inc lifted its stake in 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 acquiring an additional 36 shares during the period. Finally, Legend Financial Advisors Inc. purchased a new stake in Broadcom in the second quarter worth $28,000. Institutional investors own 76.43% of the company's stock.
Insider Activity
In other news, insider Charlie B. Kawwas sold 3,893 shares of the firm's stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total transaction of $1,354,063.26. Following the completion of the transaction, the insider directly owned 25,295 shares in the company, valued at $8,798,106.90. This trade represents a 13.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Henry Samueli sold 368,797 shares of the firm's stock in a transaction 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 transaction, the director owned 37,722,534 shares of the company's stock, valued at $12,746,821,463.94. The trade was a 0.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders purchased 3,550 shares of company stock valued at $1,227,869 and sold 666,071 shares valued at $225,623,008. Insiders own 2.00% of the company's stock.
Broadcom Stock Performance
Shares of Broadcom stock opened at $334.53 on Monday. 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 firm has a market capitalization of $1.58 trillion, a P/E ratio of 85.34, a P/E/G ratio of 1.85 and a beta of 1.16. The business has a fifty day simple moving average of $313.66 and a two-hundred day simple moving average of $253.32. 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 announced its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, beating the consensus estimate of $1.66 by $0.03. The business had revenue of $15.95 billion during 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 company's revenue for the quarter was up 22.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. On average, equities analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.
Broadcom Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be issued a dividend of $0.59 per share. 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 (DPR) is presently 60.20%.
Analyst Upgrades and Downgrades
A number of analysts recently commented on the company. Citigroup raised their price target on Broadcom from $315.00 to $350.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Macquarie assumed coverage on Broadcom in a research note on Monday, September 15th. They issued an "outperform" rating and a $420.00 price target for the company. 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. Hsbc Global Res raised Broadcom from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 24th. Finally, Wells Fargo & Company raised their price target on Broadcom from $255.00 to $345.00 and gave the stock an "equal weight" rating in a research note on Friday, September 5th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, Broadcom currently has a consensus rating of "Buy" and an average target price of $356.48.
Check Out Our Latest Report on Broadcom
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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