Manchester Financial Inc. Grows Position in Broadcom Inc. $AVGO

Manchester Financial Inc. increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 39.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,680 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,883 shares during the period. Manchester Financial Inc.’s holdings in Broadcom were worth $1,841,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Sawyer & Company Inc boosted its stake in shares of Broadcom by 62.1% during the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 36 shares during the period. Legend Financial Advisors Inc. purchased a new position in shares of Broadcom during the 2nd quarter worth about $28,000. Maseco LLP purchased a new position in shares of Broadcom during the 2nd quarter worth about $34,000. PFS Partners LLC boosted its stake in shares of Broadcom by 38.4% during the 2nd 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. Finally, Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Broadcom during the 1st quarter worth about $25,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Trading Up 1.2%

NASDAQ:AVGO opened at $344.29 on Friday. Broadcom Inc. has a one year low of $138.10 and a one year high of $374.23. 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 firm has a market cap of $1.63 trillion, a P/E ratio of 87.83, a P/E/G ratio of 1.92 and a beta of 1.20. The firm has a 50-day simple moving average of $330.52 and a 200-day simple moving average of $273.74.

Broadcom (NASDAQ:AVGO) last posted 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. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The business had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. During the same quarter in the previous year, the business posted $1.24 EPS. The company’s quarterly revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. Equities analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Truist Financial boosted their price objective on shares of Broadcom from $295.00 to $365.00 and gave the company a “buy” rating in a research report on Friday, September 5th. Sanford C. Bernstein boosted their price objective on shares of Broadcom from $295.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday, September 5th. UBS Group set a $415.00 price objective on shares of Broadcom and gave the company a “buy” rating in a research report on Tuesday, October 14th. Benchmark boosted their price objective on shares of Broadcom from $315.00 to $385.00 and gave the company a “buy” rating in a research report on Friday, September 5th. Finally, Morgan Stanley set a $409.00 price objective on shares of Broadcom and gave the company an “overweight” rating in a research report on Tuesday, October 14th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $372.52.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 16,558 shares of the business’s 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 sale, the insider owned 329,302 shares in the company, valued at approximately $114,468,668.22. The trade was a 4.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Justine Page sold 800 shares of the business’s stock in a transaction that occurred on Tuesday, October 14th. The stock was sold at an average price of $350.15, for a total transaction of $280,120.00. Following the transaction, the director owned 22,182 shares of the company’s stock, valued at approximately $7,767,027.30. This trade represents a 3.48% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 3,550 shares of company stock worth $1,227,869 and have sold 665,271 shares worth $225,464,248. 2.00% of the stock is owned by company insiders.

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.