PAX Financial Group LLC Sells 1,919 Shares of Broadcom Inc. $AVGO

PAX Financial Group LLC lessened its holdings in Broadcom Inc. (NASDAQ:AVGO) by 32.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 3,907 shares of the semiconductor manufacturer’s stock after selling 1,919 shares during the period. PAX Financial Group LLC’s holdings in Broadcom were worth $1,077,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of AVGO. Cheviot Value Management LLC bought a new position in shares of Broadcom in the first quarter worth about $25,000. Sawyer & Company Inc grew its stake in 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 in the last quarter. Legend Financial Advisors Inc. bought a new stake in shares of Broadcom during the second quarter valued at approximately $28,000. LGT Financial Advisors LLC purchased a new stake in shares of Broadcom in the second quarter valued at approximately $31,000. Finally, New England Capital Financial Advisors LLC bought a new position in Broadcom in the second quarter worth approximately $31,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insiders Place Their Bets

In related news, insider Charlie B. Kawwas sold 3,893 shares of the business’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total transaction of $1,354,063.26. Following the transaction, the insider directly owned 25,295 shares in the company, valued at $8,798,106.90. The trade was a 13.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark David Brazeal sold 16,558 shares of the company’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total value 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 represents a 4.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders bought 3,550 shares of company stock valued at $1,227,869 and sold 665,271 shares valued at $225,483,192. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on AVGO shares. Wells Fargo & Company raised their price objective on Broadcom from $255.00 to $345.00 and gave the stock an “equal weight” rating in a report on Friday, September 5th. Oppenheimer reissued an “outperform” rating and set a $360.00 price target (up previously from $325.00) on shares of Broadcom in a research report on Friday, September 5th. Wall Street Zen upgraded Broadcom from a “hold” rating to a “buy” rating in a report on Saturday. Evercore ISI upped their price objective on shares of Broadcom from $342.00 to $403.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 15th. Finally, Barclays set a $450.00 target price on shares of Broadcom and gave the stock an “overweight” rating in a report on Tuesday, October 14th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $372.52.

Broadcom Price Performance

Shares of AVGO stock opened at $340.50 on Wednesday. The stock’s 50-day moving average is $349.10 and its 200 day moving average is $298.19. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $386.48. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. The company has a market cap of $1.61 trillion, a P/E ratio of 86.86, a PEG ratio of 1.37 and a beta of 1.19.

Broadcom (NASDAQ:AVGO) last announced 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. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The business 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. The firm’s revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. Research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date was Monday, September 22nd. Broadcom’s dividend payout ratio (DPR) 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.