Broadcom Inc. $AVGO Stake Cut by Prospera Financial Services Inc

Prospera Financial Services Inc cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 14.6% during the second quarter, HoldingsChannel.com reports. The firm owned 231,326 shares of the semiconductor manufacturer’s stock after selling 39,470 shares during the period. Broadcom accounts for 1.2% of Prospera Financial Services Inc’s portfolio, making the stock its 10th biggest position. Prospera Financial Services Inc’s holdings in Broadcom were worth $63,781,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Cheviot Value Management LLC acquired a new stake in Broadcom in the first quarter worth about $25,000. Sawyer & Company Inc raised its position in shares of Broadcom by 62.1% in 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 last quarter. Legend Financial Advisors Inc. acquired a new stake in Broadcom in the 2nd quarter worth approximately $28,000. LGT Financial Advisors LLC purchased a new stake in Broadcom during the 2nd quarter worth approximately $31,000. Finally, Greenline Partners LLC acquired a new position in Broadcom during the 1st quarter valued at approximately $33,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO stock opened at $351.96 on Wednesday. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $386.48. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86. The stock has a market cap of $1.66 trillion, a PE ratio of 89.79, a price-to-earnings-growth ratio of 1.45 and a beta of 1.19. The business has a 50-day simple moving average of $347.20 and a 200-day simple moving average of $292.95.

Broadcom (NASDAQ:AVGO) last announced 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 company had revenue of $15.95 billion during the quarter, compared to analysts’ expectations of $15.82 billion. During the same period last year, the business earned $1.24 earnings per share. Broadcom’s quarterly revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. On average, equities analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors 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 payout ratio is currently 60.20%.

Insider Activity

In other news, insider Mark David Brazeal sold 16,558 shares of the stock in a transaction dated 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 of the company’s stock, valued at $114,468,668.22. This represents a 4.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Hock E. Tan sold 100,000 shares of Broadcom stock in a transaction dated 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 completion of the transaction, the chief executive officer 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 disclosure for this sale is available in the SEC filing. 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.

Analyst Ratings Changes

AVGO has been the subject of several research reports. Oppenheimer reiterated an “outperform” rating and set a $360.00 price objective (up from $325.00) on shares of Broadcom in a research note on Friday, September 5th. Truist Financial lifted their price target on Broadcom from $295.00 to $365.00 and gave the stock a “buy” rating in a research report on Friday, September 5th. Wells Fargo & Company increased their price objective on Broadcom from $255.00 to $345.00 and gave the company an “equal weight” rating in a report on Friday, September 5th. UBS Group set a $415.00 price objective on Broadcom and gave the stock a “buy” rating in a research note on Tuesday, October 14th. Finally, Benchmark upped their target price on Broadcom from $315.00 to $385.00 and gave the company a “buy” rating in a research report on Friday, September 5th. Three 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, Broadcom currently has a consensus rating of “Buy” and an average target price 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.