Broadcom Inc. $AVGO Holdings Lowered by Patten & Patten Inc. TN

Patten & Patten Inc. TN trimmed its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 10.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,020 shares of the semiconductor manufacturer’s stock after selling 2,191 shares during the period. Patten & Patten Inc. TN’s holdings in Broadcom were worth $5,243,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Davidson Investment Advisors lifted its holdings in shares of Broadcom by 0.7% during the second quarter. Davidson Investment Advisors now owns 140,980 shares of the semiconductor manufacturer’s stock valued at $38,861,000 after purchasing an additional 925 shares during the last quarter. Uptick Partners LLC lifted its stake in Broadcom by 16.9% in the 2nd quarter. Uptick Partners LLC now owns 6,993 shares of the semiconductor manufacturer’s stock worth $1,928,000 after acquiring an additional 1,012 shares in the last quarter. Rheos Capital Works Inc. lifted its stake in Broadcom by 34.2% in the 2nd quarter. Rheos Capital Works Inc. now owns 212,000 shares of the semiconductor manufacturer’s stock worth $58,438,000 after acquiring an additional 54,000 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. purchased a new stake in Broadcom in the 2nd quarter worth about $498,000. Finally, Dock Street Asset Management Inc. lifted its stake in Broadcom by 0.4% in the 2nd quarter. Dock Street Asset Management Inc. now owns 73,576 shares of the semiconductor manufacturer’s stock worth $20,281,000 after acquiring an additional 281 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on AVGO shares. Oppenheimer reissued an “outperform” rating and issued a $360.00 price objective (up from $325.00) on shares of Broadcom in a research note on Friday, September 5th. Sanford C. Bernstein increased their price objective on Broadcom from $295.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday, September 5th. Argus increased their price objective on Broadcom from $285.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, September 8th. Rosenblatt Securities increased their price objective on Broadcom from $340.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, September 5th. Finally, Mizuho set a $435.00 price objective on Broadcom and gave the stock an “outperform” rating in a research note on Tuesday. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Broadcom presently has a consensus rating of “Buy” and an average price target of $372.52.

Broadcom Trading Down 1.9%

NASDAQ:AVGO opened at $342.66 on Wednesday. The stock’s 50 day moving average price is $329.23 and its 200 day moving average price is $271.96. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $374.23. The company has a market capitalization of $1.62 trillion, a P/E ratio of 87.41, a P/E/G ratio of 1.97 and a beta of 1.20. 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 (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $15.82 billion. During the same quarter in the prior year, the company posted $1.24 earnings per share. The firm’s revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. On average, research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were issued 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 is currently 60.20%.

Insiders Place Their Bets

In related news, insider Mark David Brazeal sold 16,558 shares of the business’s stock in a transaction that occurred on 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 sale, the insider directly owned 329,302 shares in the company, valued at approximately $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 this link. Also, CEO Hock E. Tan sold 148,154 shares of the company’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $336.67, for a total value of $49,879,007.18. Following the sale, the chief executive officer directly owned 825,998 shares of the company’s stock, valued at $278,088,746.66. The trade was a 15.21% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders purchased 3,550 shares of company stock worth $1,227,869 and sold 665,271 shares worth $225,464,248. 2.00% of the stock is currently owned by insiders.

Broadcom Company 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.