LRI Investments LLC Trims Position in Broadcom Inc. $AVGO

LRI Investments LLC cut its position in Broadcom Inc. (NASDAQ:AVGO) by 6.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,984 shares of the semiconductor manufacturer’s stock after selling 1,242 shares during the period. LRI Investments LLC’s holdings in Broadcom were worth $5,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sawyer & Company Inc increased its stake in shares of 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 purchasing an additional 36 shares in the last quarter. Legend Financial Advisors Inc. purchased a new position in Broadcom during the second quarter valued at $28,000. Maseco LLP purchased a new position in Broadcom during the second quarter valued at $34,000. PFS Partners LLC grew its stake in Broadcom by 38.4% during the second quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer’s stock valued at $38,000 after acquiring an additional 38 shares in the last quarter. Finally, Barnes Dennig Private Wealth Management LLC purchased a new position in Broadcom during the first quarter valued at $25,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and set a $340.00 target price on shares of Broadcom in a research note on Wednesday, August 13th. Piper Sandler lifted their price objective on shares of Broadcom from $315.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, September 5th. JPMorgan Chase & Co. lifted their price objective on shares of Broadcom from $325.00 to $400.00 and gave the stock an “overweight” rating in a research note on Friday, September 5th. HSBC raised shares of Broadcom from a “hold” rating to a “buy” rating and set a $400.00 price objective for the company in a research note on Tuesday, June 24th. Finally, Evercore ISI lifted their price objective on shares of Broadcom from $342.00 to $403.00 and gave the stock an “outperform” rating in a research note on Wednesday. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $372.33.

Insider Activity at Broadcom

In other Broadcom news, Director Justine Page sold 800 shares of the business’s stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $350.15, for a total transaction of $280,120.00. Following the sale, the director owned 22,182 shares of the company’s stock, valued at approximately $7,767,027.30. The trade was a 3.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark David Brazeal sold 16,558 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the sale, the insider directly owned 329,302 shares in the company, valued at approximately $114,468,668.22. This represents a 4.79% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, 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 company insiders.

Broadcom Stock Performance

Shares of AVGO stock opened at $349.33 on Friday. The business’s fifty day simple moving average is $327.73 and its 200-day simple moving average is $269.24. The company has a market cap of $1.65 trillion, a PE ratio of 89.11, a PEG ratio of 1.97 and a beta of 1.20. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $374.23.

Broadcom (NASDAQ:AVGO) last issued 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. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The firm had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. During the same quarter in the prior year, the business posted $1.24 EPS. The business’s revenue for the quarter was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. Analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were 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 was Monday, September 22nd. Broadcom’s payout ratio is currently 60.20%.

About Broadcom

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.