Leelyn Smith LLC Reduces Position in Broadcom Inc. $AVGO

Leelyn Smith LLC lessened its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,742 shares of the semiconductor manufacturer’s stock after selling 180 shares during the quarter. Leelyn Smith LLC’s holdings in Broadcom were worth $3,237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. PARUS FINANCE UK Ltd boosted its stake in shares of Broadcom by 175.3% during the 1st quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer’s stock worth $16,840,000 after purchasing an additional 64,038 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of Broadcom by 27.9% during the first quarter. Geneos Wealth Management Inc. now owns 64,130 shares of the semiconductor manufacturer’s stock worth $10,737,000 after purchasing an additional 13,978 shares during the last quarter. Ethic Inc. lifted its position in shares of Broadcom by 1.6% during the second quarter. Ethic Inc. now owns 329,339 shares of the semiconductor manufacturer’s stock worth $88,708,000 after purchasing an additional 5,249 shares during the last quarter. Asio Capital LLC lifted its position in shares of Broadcom by 2.0% during the second quarter. Asio Capital LLC now owns 54,459 shares of the semiconductor manufacturer’s stock worth $15,012,000 after purchasing an additional 1,089 shares during the last quarter. Finally, Jacobsen Capital Management lifted its position in shares of Broadcom by 11.1% during the second quarter. Jacobsen Capital Management now owns 9,248 shares of the semiconductor manufacturer’s stock worth $2,549,000 after purchasing an additional 926 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Piper Sandler lifted their target price on Broadcom from $315.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday, September 5th. Sanford C. Bernstein lifted their target price on Broadcom from $295.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, September 5th. JPMorgan Chase & Co. lifted their target price on Broadcom from $325.00 to $400.00 and gave the stock an “overweight” rating in a research report on Friday, September 5th. Truist Financial lifted their target price on Broadcom from $295.00 to $365.00 and gave the stock a “buy” rating in a research report on Friday, September 5th. Finally, Benchmark raised their price target on Broadcom from $315.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, September 5th. Three investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Broadcom presently has a consensus rating of “Buy” and a consensus price target of $372.52.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $376.47 on Friday. The business’s 50 day moving average price is $337.79 and its 200 day moving average price is $281.31. The firm has a market cap of $1.78 trillion, a P/E ratio of 96.04, a P/E/G ratio of 2.17 and a beta of 1.20. 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.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, beating 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 company had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.82 billion. During the same period in the previous year, the company posted $1.24 earnings per share. Broadcom’s revenue for the quarter was up 22.0% on a year-over-year basis. 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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors 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 yield of 0.6%. Broadcom’s dividend payout ratio is 60.20%.

Insider Activity

In related news, CEO Hock E. Tan sold 100,000 shares of the stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $339.58, for a total transaction of $33,958,000.00. Following the sale, the chief executive officer directly owned 725,638 shares of the company’s stock, valued at approximately $246,412,152.04. This represents a 12.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Mark David Brazeal sold 16,558 shares of the 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 sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. 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.

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.