waypoint wealth counsel Increases Position in Broadcom Inc. $AVGO

Key Points

• Waypoint Wealth Counsel increased its holdings in Broadcom Inc. by 27.0% during Q2, owning 5,837 shares valued at approximately $1.61 million at the end of the quarter.
• CEO Hock E. Tan sold 100,000 shares for about $33.96 million, reducing his position by 12.11%, while insider transactions showed both sales and purchases in the last quarter.
• Broadcom reported a 22.0% increase in revenue year-over-year, achieving an EPS of $1.69 for Q3, exceeding estimates and guiding for positive future earnings.

waypoint wealth counsel lifted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 27.0% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,837 shares of the semiconductor manufacturer's stock after buying an additional 1,241 shares during the period. Broadcom makes up approximately 0.8% of waypoint wealth counsel's portfolio, making the stock its 28th biggest holding. waypoint wealth counsel's holdings in Broadcom were worth $1,609,000 at the end of the most recent quarter.

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

Insider Transactions at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 100,000 shares of the business'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 value of $33,958,000.00. Following the completion of the transaction, the chief executive officer owned 725,638 shares of the company's stock, valued at $246,412,152.04. The trade was a 12.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 3,893 shares of the business's stock in a transaction that occurred 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 of the company's stock, valued at approximately $8,798,106.90. This represents a 13.34% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 3,550 shares of company stock worth $1,227,869 and have sold 665,271 shares worth $225,464,248. 2.00% of the stock is currently owned by insiders.

Broadcom Trading Down 1.4%

Shares of AVGO opened at $349.33 on Friday. The business's 50-day moving average price is $327.73 and its 200-day moving average price is $268.57. The stock has a market cap of $1.65 trillion, a PE ratio of 89.11, a P/E/G ratio of 1.99 and a beta of 1.20. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $374.23. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, beating 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 the consensus estimate of $15.82 billion. During the same period last year, the firm earned $1.24 EPS. The business's quarterly revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. On average, equities analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were issued a $0.59 dividend. The ex-dividend date of this dividend was 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 have issued reports on the company. KeyCorp set a $460.00 target price on Broadcom in a research report on Monday. Argus upped their price objective on shares of Broadcom from $285.00 to $375.00 and gave the company a "buy" rating in a report on Monday, September 8th. Truist Financial upped 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. Macquarie assumed coverage on shares of Broadcom in a research report on Monday, September 15th. They issued an "outperform" rating and a $420.00 price target on the stock. Finally, HSBC raised shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price target on the stock in a research report on Tuesday, June 24th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $372.33.

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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