Auto Owners Insurance Co Lowers Stock Holdings in Broadcom Inc. $AVGO

Auto Owners Insurance Co lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 99.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,390 shares of the semiconductor manufacturer’s stock after selling 647,610 shares during the quarter. Auto Owners Insurance Co’s holdings in Broadcom were worth $659,000 at the end of the most recent quarter.

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

Broadcom Price Performance

AVGO stock opened at $369.63 on Monday. The firm has a 50 day moving average of $339.31 and a 200-day moving average of $284.12. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $386.48. 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 company has a market cap of $1.75 trillion, a price-to-earnings ratio of 94.29, a PEG ratio of 2.08 and a beta of 1.19.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.03. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The company 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 company’s revenue for the quarter was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. As a group, equities analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

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

Insider Activity

In related news, Director Henry Samueli sold 368,797 shares of Broadcom stock in a transaction that occurred 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 directly owned 37,722,534 shares in the company, valued at $12,746,821,463.94. The trade was a 0.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Hock E. Tan sold 148,154 shares of Broadcom 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 owned 825,998 shares of the company’s stock, valued at $278,088,746.66. This represents a 15.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders acquired 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 currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. TD Cowen raised their price objective on shares of Broadcom from $355.00 to $370.00 and gave the company a “buy” rating in a research report on Friday, September 5th. The Goldman Sachs Group restated a “buy” rating and issued a $340.00 price objective on shares of Broadcom in a research report on Wednesday, August 13th. Argus raised their price objective on shares of Broadcom from $285.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, September 8th. Rosenblatt Securities raised their price objective on shares of Broadcom from $340.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, September 5th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Broadcom from $325.00 to $400.00 and gave the company 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 given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $372.52.

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.