Guinness Atkinson Asset Management Inc Lowers Stake in Broadcom Inc. $AVGO

Guinness Atkinson Asset Management Inc reduced its position in Broadcom Inc. (NASDAQ:AVGO) by 14.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 7,535 shares of the semiconductor manufacturer’s stock after selling 1,253 shares during the period. Broadcom comprises approximately 1.1% of Guinness Atkinson Asset Management Inc’s holdings, making the stock its 23rd biggest holding. Guinness Atkinson Asset Management Inc’s holdings in Broadcom were worth $2,077,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Sawyer & Company Inc lifted its holdings in shares of Broadcom by 62.1% during the 2nd 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. Legend Financial Advisors Inc. purchased a new position in Broadcom during the second quarter worth approximately $28,000. LGT Financial Advisors LLC purchased a new position in Broadcom during the second quarter worth approximately $31,000. Maseco LLP acquired a new position in shares of Broadcom in the 2nd quarter valued at $34,000. Finally, PFS Partners LLC grew its stake in shares of Broadcom by 38.4% during the 2nd quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer’s stock valued at $38,000 after buying an additional 38 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Trading Down 1.8%

Shares of NASDAQ AVGO opened at $369.63 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 stock’s 50 day moving average price is $339.31 and its two-hundred day moving average price is $283.36. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $386.48. The stock has a market capitalization of $1.75 trillion, a P/E ratio of 94.29, a PEG ratio of 2.08 and a beta of 1.20.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.03. The company had revenue of $15.95 billion for the quarter, compared to analysts’ expectations of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The firm’s revenue was up 22.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. On average, analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were given a dividend of $0.59 per share. The ex-dividend date was Monday, September 22nd. This represents a $2.36 annualized dividend and a dividend yield of 0.6%. Broadcom’s payout ratio is currently 60.20%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AVGO shares. Bank of America boosted their target price on Broadcom from $300.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, September 5th. KeyCorp set a $460.00 price target on shares of Broadcom in a research report on Monday, October 13th. Arete Research raised shares of Broadcom to a “strong-buy” rating in a research report on Monday, July 28th. TD Cowen raised their target price on shares of Broadcom from $355.00 to $370.00 and gave the company a “buy” rating in a research note on Friday, September 5th. Finally, Piper Sandler upped their price target on shares of Broadcom from $315.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday, September 5th. Three investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $372.52.

Insiders Place Their Bets

In other Broadcom news, Director Henry Samueli sold 368,797 shares of the business’s stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $337.91, for a total transaction of $124,620,194.27. Following the completion of the transaction, the director owned 37,722,534 shares in the company, valued at approximately $12,746,821,463.94. The trade was a 0.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kirsten M. Spears sold 7,498 shares of the company’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the completion of the sale, the chief financial officer directly owned 313,330 shares of the company’s stock, valued at $108,932,307.80. The trade was a 2.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders purchased 3,550 shares of company stock worth $1,227,869 and sold 665,271 shares worth $225,464,248. 2.00% of the stock is owned by corporate insiders.

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.