Nemes Rush Group LLC Has $47.95 Million Stock Holdings in Broadcom Inc. $AVGO

Nemes Rush Group LLC reduced its holdings in Broadcom Inc. (NASDAQ:AVGO) by 26.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 173,956 shares of the semiconductor manufacturer’s stock after selling 63,729 shares during the quarter. Broadcom comprises about 5.2% of Nemes Rush Group LLC’s investment portfolio, making the stock its biggest position. Nemes Rush Group LLC’s holdings in Broadcom were worth $47,951,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in AVGO. Cheviot Value Management LLC bought a new position in Broadcom in the 1st quarter worth approximately $25,000. Sawyer & Company Inc grew 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 acquiring an additional 36 shares during the last quarter. Legend Financial Advisors Inc. bought a new position in Broadcom during the second quarter worth $28,000. LGT Financial Advisors LLC bought a new position in Broadcom during the second quarter worth $31,000. Finally, New England Capital Financial Advisors LLC acquired a new position in Broadcom during the 2nd quarter valued at $31,000. 76.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Broadcom

In other news, CFO Kirsten M. Spears sold 7,498 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the transaction, the chief financial officer directly owned 313,330 shares in the company, valued at approximately $108,932,307.80. This represents a 2.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark David Brazeal sold 16,558 shares of the stock in a transaction that occurred on 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 in the company, valued at $114,468,668.22. This trade represents a 4.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have acquired 3,550 shares of company stock worth $1,227,869 and have sold 665,271 shares worth $225,483,192. Corporate insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of Broadcom stock opened at $340.20 on Friday. The stock has a market capitalization of $1.61 trillion, a price-to-earnings ratio of 86.79, a P/E/G ratio of 1.16 and a beta of 1.19. 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 1-year low of $138.10 and a 1-year high of $386.48. The firm’s 50-day moving average price is $348.15 and its two-hundred day moving average price is $300.59.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $15.82 billion. During the same period last year, the firm posted $1.24 EPS. The business’s revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. On average, equities analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently declared 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. The ex-dividend date was Monday, September 22nd. This represents a $2.36 annualized dividend and a yield of 0.7%. Broadcom’s dividend payout ratio is 60.20%.

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of recent research reports. Mizuho set a $435.00 target price on Broadcom and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. Deutsche Bank Aktiengesellschaft set a $400.00 price objective on Broadcom and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Macquarie initiated coverage on Broadcom in a report on Monday, September 15th. They set an “outperform” rating and a $420.00 price objective on the stock. Evercore ISI boosted their price objective on Broadcom from $342.00 to $403.00 and gave the company an “outperform” rating in a research report on Wednesday, October 15th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $340.00 target price on shares of Broadcom in a research report on Wednesday, August 13th. Three investment analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $374.21.

Broadcom Profile

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.