Burney Co. Sells 7,004 Shares of Broadcom Inc. $AVGO

Burney Co. cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 173,597 shares of the semiconductor manufacturer’s stock after selling 7,004 shares during the period. Broadcom makes up approximately 1.6% of Burney Co.’s investment portfolio, making the stock its 8th largest holding. Burney Co.’s holdings in Broadcom were worth $47,852,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AVGO. Nuveen LLC acquired a new position in shares of Broadcom in the 1st quarter valued at approximately $6,649,117,000. Price T Rowe Associates Inc. MD raised its holdings in Broadcom by 37.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer’s stock worth $10,968,270,000 after buying an additional 17,985,046 shares during the period. Goldman Sachs Group Inc. lifted its stake in Broadcom by 16.7% in the first quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer’s stock valued at $5,333,384,000 after buying an additional 4,550,647 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of Broadcom by 36.9% in the first quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer’s stock valued at $2,638,512,000 after buying an additional 4,245,345 shares during the period. Finally, Alliancebernstein L.P. increased its position in shares of Broadcom by 16.0% during the first quarter. Alliancebernstein L.P. now owns 29,513,814 shares of the semiconductor manufacturer’s stock worth $4,941,498,000 after acquiring an additional 4,077,910 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 16,558 shares of Broadcom stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total value of $5,755,726.38. Following the completion of the transaction, the insider owned 329,302 shares of the company’s stock, valued at $114,468,668.22. This trade represents a 4.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Henry Samueli sold 368,797 shares of the business’s stock in a transaction dated 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 transaction, the director owned 37,722,534 shares in the company, valued at $12,746,821,463.94. This represents a 0.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders acquired 3,550 shares of company stock valued at $1,227,869 and sold 665,271 shares valued at $225,464,248. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on AVGO shares. UBS Group set a $415.00 price objective on shares of Broadcom and gave the stock a “buy” rating in a report on Tuesday, October 14th. TD Cowen increased their target price on Broadcom from $355.00 to $370.00 and gave the stock a “buy” rating in a report on Friday, September 5th. Piper Sandler boosted their price target on Broadcom from $315.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, September 5th. Benchmark increased their price objective on Broadcom from $315.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, September 5th. Finally, Citigroup restated a “buy” rating and issued a $415.00 target price (up previously from $350.00) on shares of Broadcom in a research note on Tuesday, October 14th. Three investment analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $372.52.

Broadcom Price Performance

NASDAQ:AVGO opened at $349.43 on Friday. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $386.48. The company has a market cap of $1.65 trillion, a P/E ratio of 89.14, a P/E/G ratio of 1.43 and a beta of 1.19. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. The stock’s 50-day simple moving average is $344.91 and its 200 day simple moving average is $289.00.

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

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were paid 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 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.