Convergence Financial LLC Trims Stock Position in Broadcom Inc. $AVGO

Convergence Financial LLC decreased its position in Broadcom Inc. (NASDAQ:AVGO) by 3.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,702 shares of the semiconductor manufacturer’s stock after selling 919 shares during the period. Broadcom accounts for approximately 1.3% of Convergence Financial LLC’s investment portfolio, making the stock its 23rd largest position. Convergence Financial LLC’s holdings in Broadcom were worth $7,360,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cheviot Value Management LLC purchased a new stake in Broadcom in the first quarter valued at $25,000. Sawyer & Company Inc increased its position 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 last quarter. Legend Financial Advisors Inc. acquired a new stake in shares of Broadcom during the 2nd quarter worth about $28,000. LGT Financial Advisors LLC purchased a new stake in Broadcom in the 2nd quarter valued at about $31,000. Finally, Greenline Partners LLC acquired a new position in Broadcom in the first quarter valued at about $33,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on AVGO shares. Evercore ISI lifted their price target on shares of Broadcom from $342.00 to $403.00 and gave the company an “outperform” rating in a research report on Wednesday, October 15th. TD Cowen lifted their target price on shares of Broadcom from $355.00 to $370.00 and gave the company a “buy” rating in a report on Friday, September 5th. Morgan Stanley set a $409.00 price target on Broadcom and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. The Goldman Sachs Group restated a “buy” rating and set a $340.00 price target on shares of Broadcom in a research report on Wednesday, August 13th. Finally, KeyCorp set a $460.00 price objective on Broadcom in a report on Monday, October 13th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Broadcom presently has a consensus rating of “Buy” and a consensus price target of $372.52.

Broadcom Stock Down 1.7%

Broadcom stock opened at $349.43 on Monday. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $386.48. The stock’s fifty day simple moving average is $344.91 and its 200-day simple moving average is $290.63. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $1.65 trillion, a P/E ratio of 89.14, a P/E/G ratio of 1.41 and a beta of 1.19.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) 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 analyst estimates of $15.82 billion. During the same period last year, the business posted $1.24 earnings per share. Broadcom’s revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. As a group, equities analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

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

Insider Activity

In other Broadcom news, CEO Hock E. Tan sold 100,000 shares of the stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $339.58, for a total value of $33,958,000.00. Following the sale, the chief executive officer directly owned 725,638 shares of the company’s stock, valued at approximately $246,412,152.04. This represents a 12.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Mark David Brazeal sold 16,558 shares of the firm’s stock in a transaction 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 completion of the sale, the insider owned 329,302 shares in the company, valued at $114,468,668.22. The trade was a 4.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders bought 3,550 shares of company stock valued at $1,227,869 and sold 665,271 shares valued at $225,464,248. 2.00% of the stock is currently owned by corporate insiders.

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.