FDx Advisors Inc. Cuts Holdings in Broadcom Inc. $AVGO

FDx Advisors Inc. lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 18.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,993 shares of the semiconductor manufacturer’s stock after selling 1,115 shares during the quarter. FDx Advisors Inc.’s holdings in Broadcom were worth $1,376,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cheviot Value Management LLC purchased a new stake in Broadcom in the first quarter worth approximately $25,000. Sawyer & Company Inc lifted its holdings in shares of 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. purchased a new stake in shares of Broadcom in the 2nd quarter valued at $28,000. LGT Financial Advisors LLC bought a new position in shares of Broadcom during the 2nd quarter valued at $31,000. Finally, Greenline Partners LLC purchased a new position in Broadcom in the 1st quarter worth $33,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on AVGO shares. Piper Sandler raised their price objective on Broadcom from $315.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, September 5th. Barclays set a $450.00 price target on Broadcom and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. JPMorgan Chase & Co. lifted their price target on Broadcom from $325.00 to $400.00 and gave the stock an “overweight” rating in a research note on Friday, September 5th. TD Cowen increased their price objective on Broadcom from $355.00 to $370.00 and gave the company a “buy” rating in a research note on Friday, September 5th. Finally, Morgan Stanley set a $409.00 target price on shares of Broadcom and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. Three 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 company’s stock. According to MarketBeat.com, Broadcom currently has an average rating of “Buy” and an average price target of $372.52.

Broadcom Trading Up 0.9%

Shares of NASDAQ AVGO opened at $355.22 on Thursday. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $386.48. The firm has a 50-day moving average of $348.26 and a 200 day moving average of $293.39. The stock has a market cap of $1.68 trillion, a P/E ratio of 90.62, a price-to-earnings-growth ratio of 1.42 and a beta of 1.19. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.03. The firm had revenue of $15.95 billion for the quarter, compared to analysts’ expectations of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The business’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. As a group, sell-side analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, September 22nd. Broadcom’s dividend payout ratio is currently 60.20%.

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 16,558 shares of Broadcom stock in a transaction dated Wednesday, September 17th. The stock was 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 owned 329,302 shares of the company’s stock, valued at $114,468,668.22. The trade was a 4.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Justine Page sold 800 shares of the company’s stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $350.15, for a total transaction of $280,120.00. Following the completion of the transaction, the director owned 22,182 shares in the company, valued at approximately $7,767,027.30. The trade was a 3.48% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders bought 3,550 shares of company stock valued at $1,227,869 and sold 664,471 shares valued at $225,218,280. Insiders own 2.00% of the company’s stock.

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.