Renasant Bank Decreases Stock Holdings in Broadcom Inc. $AVGO

Renasant Bank lowered its position in Broadcom Inc. (NASDAQ:AVGO) by 7.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,505 shares of the semiconductor manufacturer’s stock after selling 501 shares during the period. Broadcom makes up about 1.2% of Renasant Bank’s portfolio, making the stock its 21st largest position. Renasant Bank’s holdings in Broadcom were worth $1,793,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AVGO. Sawyer & Company Inc lifted its holdings in shares of Broadcom by 62.1% during 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. purchased a new stake in Broadcom in the second quarter valued at about $28,000. LGT Financial Advisors LLC acquired a new stake in Broadcom in the second quarter worth about $31,000. Maseco LLP purchased a new stake in shares of Broadcom during the second quarter worth about $34,000. Finally, PFS Partners LLC grew its stake in shares of Broadcom by 38.4% during the second quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer’s stock worth $38,000 after acquiring an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 16,558 shares of Broadcom stock in a transaction that occurred 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 transaction, the insider directly 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 stock in a transaction 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 sale, the director directly owned 22,182 shares in the company, valued at $7,767,027.30. This trade represents a 3.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have acquired 3,550 shares of company stock worth $1,227,869 and have sold 664,471 shares worth $225,218,280. Company insiders own 2.00% of the company’s stock.

Broadcom Price Performance

NASDAQ:AVGO opened at $342.46 on Friday. The firm’s fifty day moving average is $349.09 and its two-hundred day moving average is $295.48. The firm has a market cap of $1.62 trillion, a price-to-earnings ratio of 87.36, a PEG ratio of 1.38 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. Broadcom Inc. has a one year low of $138.10 and a one year high of $386.48.

Broadcom (NASDAQ:AVGO) last issued its 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 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 was up 22.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. Research analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were paid 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 dividend payout ratio (DPR) is presently 60.20%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Broadcom from $325.00 to $400.00 and gave the stock an “overweight” rating in a research note on Friday, September 5th. TD Cowen lifted their price objective on shares of Broadcom from $355.00 to $370.00 and gave the stock a “buy” rating in a research note on Friday, September 5th. Deutsche Bank Aktiengesellschaft set a $400.00 price objective on shares of Broadcom and gave the company a “buy” rating in a report on Tuesday, October 14th. Rosenblatt Securities raised their target price on Broadcom from $340.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, September 5th. Finally, Morgan Stanley set a $409.00 price target on Broadcom and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Three 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 stock. According to data from MarketBeat.com, Broadcom currently has a consensus rating of “Buy” and a consensus price target of $372.52.

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.