Broadcom Inc. $AVGO Stock Position Reduced by Novare Capital Management LLC

Novare Capital Management LLC cut its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 152,029 shares of the semiconductor manufacturer’s stock after selling 393 shares during the period. Broadcom comprises approximately 3.4% of Novare Capital Management LLC’s holdings, making the stock its 4th largest position. Novare Capital Management LLC’s holdings in Broadcom were worth $41,907,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Broadcom by 0.4% in the first quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer’s stock valued at $79,900,968,000 after acquiring an additional 2,085,534 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Broadcom by 37.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer’s stock valued at $10,968,270,000 after acquiring an additional 17,985,046 shares during the last quarter. Nuveen LLC acquired a new stake in Broadcom in the first quarter valued at approximately $6,649,117,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Broadcom by 2.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 35,243,467 shares of the semiconductor manufacturer’s stock valued at $5,900,814,000 after acquiring an additional 842,088 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Broadcom by 3.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 33,852,310 shares of the semiconductor manufacturer’s stock valued at $5,668,134,000 after acquiring an additional 1,043,948 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadcom

In related news, Director Henry Samueli sold 368,797 shares of the business’s stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $337.91, for a total transaction of $124,620,194.27. Following the transaction, the director owned 37,722,534 shares of the company’s stock, valued at approximately $12,746,821,463.94. The trade was a 0.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Mark David Brazeal sold 16,558 shares of the business’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the transaction, the insider directly owned 329,302 shares in the company, valued at $114,468,668.22. This trade represents a 4.79% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have purchased 3,550 shares of company stock valued at $1,227,869 and have sold 665,271 shares valued at $225,464,248. 2.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Truist Financial lifted their target price on shares of Broadcom from $295.00 to $365.00 and gave the company a “buy” rating in a research note on Friday, September 5th. Mizuho set a $435.00 target price on shares of Broadcom and gave the company an “outperform” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft set a $400.00 target price on shares of Broadcom and gave the company a “buy” rating in a research note on Tuesday, October 14th. Citigroup restated a “buy” rating and issued a $415.00 price objective (up from $350.00) on shares of Broadcom in a research note on Tuesday, October 14th. Finally, TD Cowen boosted 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. Three research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $372.52.

Broadcom Price Performance

Shares of Broadcom stock opened at $354.13 on Friday. The firm has a fifty day simple moving average of $331.47 and a 200-day simple moving average of $275.11. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $374.23. The stock has a market capitalization of $1.67 trillion, a price-to-earnings ratio of 90.34, a PEG ratio of 1.94 and a beta of 1.20.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.03. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The business had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. During the same quarter in the previous year, the firm 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. On average, sell-side analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors 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 yield of 0.7%. Broadcom’s payout ratio is 60.20%.

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.