Fortis Capital Advisors LLC Decreases Position in Broadcom Inc. $AVGO

Fortis Capital Advisors LLC lessened its holdings in Broadcom Inc. (NASDAQ:AVGO) by 14.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,553 shares of the semiconductor manufacturer’s stock after selling 1,289 shares during the quarter. Fortis Capital Advisors LLC’s holdings in Broadcom were worth $2,082,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Broadcom in the 1st quarter worth approximately $25,000. Cheviot Value Management LLC purchased a new stake in Broadcom in the first quarter worth $25,000. Inlight Wealth Management LLC bought a new stake in Broadcom in the first quarter valued at $26,000. Sawyer & Company Inc increased its position in Broadcom by 62.1% during the 2nd 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. Finally, Legend Financial Advisors Inc. bought a new position in Broadcom in the 2nd quarter worth $28,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of research reports. HSBC raised shares of Broadcom from a “hold” rating to a “buy” rating and set a $400.00 target price on the stock in a research note on Tuesday, June 24th. Rosenblatt Securities lifted their price objective on Broadcom from $340.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, September 5th. Argus upped their target price on Broadcom from $285.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, September 8th. Barclays increased their target price on Broadcom from $265.00 to $400.00 and gave the stock an “overweight” rating in a research report on Friday, September 5th. Finally, Citigroup raised their target price on Broadcom from $315.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $357.22.

Insider Transactions at Broadcom

In related news, Director Henry Samueli sold 368,797 shares of the company’s stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $337.91, for a total value of $124,620,194.27. Following the transaction, the director directly owned 37,722,534 shares of the company’s stock, valued at approximately $12,746,821,463.94. This represents a 0.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 16,558 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total value of $5,755,726.38. Following the completion of the transaction, 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 disclosure for this sale can be found here. In the last quarter, insiders have purchased 3,550 shares of company stock valued at $1,227,869 and have sold 666,071 shares valued at $225,623,008. Corporate insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $345.50 on Thursday. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $374.23. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. The business has a fifty day moving average price of $320.89 and a 200-day moving average price of $260.37. The company has a market capitalization of $1.63 trillion, a PE ratio of 88.14, a PEG ratio of 1.86 and a beta of 1.20.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $15.82 billion. During the same period last year, the company earned $1.24 earnings per share. The company’s revenue 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, September 22nd. Broadcom’s dividend payout ratio is currently 60.20%.

Broadcom Company 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.