Broadcom Inc. $AVGO Holdings Reduced by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. cut its holdings in Broadcom Inc. (NASDAQ:AVGO) by 5.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 476,640 shares of the semiconductor manufacturer’s stock after selling 26,298 shares during the period. Broadcom accounts for 1.9% of Pinnacle Associates Ltd.’s holdings, making the stock its 5th biggest holding. Pinnacle Associates Ltd.’s holdings in Broadcom were worth $131,386,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Cheviot Value Management LLC bought a new stake in Broadcom in the 1st quarter worth approximately $25,000. Sawyer & Company Inc increased its stake in Broadcom by 62.1% in the 2nd 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 stake in Broadcom in the 2nd quarter worth approximately $28,000. Wood Tarver Financial Group LLC increased its stake in Broadcom by 342.5% in the 1st quarter. Wood Tarver Financial Group LLC now owns 177 shares of the semiconductor manufacturer’s stock worth $30,000 after acquiring an additional 137 shares during the last quarter. Finally, LGT Financial Advisors LLC bought a new stake in Broadcom in the 2nd quarter worth approximately $31,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Broadcom

In related news, insider Mark David Brazeal sold 16,558 shares of the business’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the completion of the transaction, the insider owned 329,302 shares in the company, valued at $114,468,668.22. The trade was a 4.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Henry Samueli sold 368,797 shares of the business’s stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $337.91, for a total value of $124,620,194.27. Following the transaction, the director owned 37,722,534 shares of the company’s stock, valued at approximately $12,746,821,463.94. The trade was a 0.97% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have bought 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 insiders.

Broadcom Stock Performance

NASDAQ AVGO opened at $351.94 on Wednesday. The company has a market cap of $1.66 trillion, a P/E ratio of 89.78, a P/E/G ratio of 1.46 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 business’s 50 day moving average price is $341.75 and its 200-day moving average price is $286.75. Broadcom Inc. has a fifty-two week low of $138.10 and a fifty-two week high of $386.48.

Broadcom (NASDAQ:AVGO) last released its 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. The firm 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 company’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. Sell-side analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on AVGO shares. Truist Financial lifted their price objective on Broadcom from $295.00 to $365.00 and gave the stock a “buy” rating in a research note on Friday, September 5th. Oppenheimer reaffirmed an “outperform” rating and issued a $360.00 price objective (up previously from $325.00) on shares of Broadcom in a research note on Friday, September 5th. TD Cowen lifted their price objective on Broadcom from $355.00 to $370.00 and gave the stock a “buy” rating in a research note on Friday, September 5th. Morgan Stanley set a $409.00 price objective on Broadcom and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $340.00 price objective on shares of Broadcom in a research note on Wednesday, August 13th. Three analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $372.52.

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.