Tobam Sells 2,614 Shares of Broadcom Inc. $AVGO

Tobam trimmed its holdings in Broadcom Inc. (NASDAQ:AVGO) by 14.9% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 14,934 shares of the semiconductor manufacturer’s stock after selling 2,614 shares during the quarter. Broadcom accounts for about 1.6% of Tobam’s holdings, making the stock its 24th biggest holding. Tobam’s holdings in Broadcom were worth $4,117,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Sawyer & Company Inc boosted its position in Broadcom by 62.1% during the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 36 shares during the period. PFS Partners LLC boosted its holdings in shares of Broadcom by 38.4% during the second quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer’s stock worth $38,000 after purchasing an additional 38 shares during the period. Costello Asset Management INC increased its holdings in Broadcom by 1.5% during the 2nd quarter. Costello Asset Management INC now owns 2,528 shares of the semiconductor manufacturer’s stock valued at $697,000 after purchasing an additional 38 shares during the period. Walkner Condon Financial Advisors LLC raised its position in Broadcom by 1.0% during the 2nd quarter. Walkner Condon Financial Advisors LLC now owns 3,944 shares of the semiconductor manufacturer’s stock valued at $1,087,000 after purchasing an additional 38 shares during the last quarter. Finally, Carson Advisory Inc. lifted its holdings in Broadcom by 2.0% in the 2nd quarter. Carson Advisory Inc. now owns 2,023 shares of the semiconductor manufacturer’s stock worth $558,000 after buying an additional 39 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the topic of several research analyst reports. Wells Fargo & Company boosted their target price on Broadcom from $255.00 to $345.00 and gave the company an “equal weight” rating in a research note on Friday, September 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Broadcom in a report on Thursday. UBS Group set a $415.00 target price on shares of Broadcom and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Bank of America boosted their price target on shares of Broadcom from $300.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, September 5th. Finally, Wall Street Zen upgraded shares of Broadcom from a “hold” rating to a “buy” rating in a report on Saturday. Three 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’s stock. According to data from MarketBeat, Broadcom has a consensus rating of “Buy” and an average price target of $372.52.

Insider Buying and Selling

In related news, insider Mark David Brazeal sold 16,558 shares of the stock in a transaction dated Wednesday, September 17th. The shares were 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 of the company’s stock, valued at approximately $114,468,668.22. This represents a 4.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kirsten M. Spears sold 7,498 shares of Broadcom 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 transaction, the chief financial officer directly owned 313,330 shares of the company’s stock, valued at $108,932,307.80. This trade represents a 2.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have purchased 3,550 shares of company stock worth $1,227,869 and have sold 664,471 shares worth $225,218,280. 2.00% of the stock is currently owned by company insiders.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $342.46 on Friday. The company has a 50 day simple moving average of $349.09 and a two-hundred day simple moving average of $295.48. Broadcom Inc. has a fifty-two week low of $138.10 and a fifty-two week high of $386.48. The company has a market capitalization of $1.62 trillion, a price-to-earnings ratio of 87.36, a P/E/G ratio of 1.38 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.

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

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend 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.