Griffin Asset Management Inc. Cuts Stake in Broadcom Inc. $AVGO

Griffin Asset Management Inc. cut its stake in Broadcom Inc. (NASDAQ:AVGO) by 1.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,396 shares of the semiconductor manufacturer’s stock after selling 281 shares during the quarter. Griffin Asset Management Inc.’s holdings in Broadcom were worth $5,071,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Welch Group LLC raised its position in Broadcom by 14.4% in the second quarter. Welch Group LLC now owns 32,562 shares of the semiconductor manufacturer’s stock valued at $8,976,000 after purchasing an additional 4,098 shares during the period. Cypress Capital Group raised its position in Broadcom by 2.0% in the second quarter. Cypress Capital Group now owns 54,865 shares of the semiconductor manufacturer’s stock valued at $15,124,000 after purchasing an additional 1,066 shares during the period. Stephens Consulting LLC raised its position in Broadcom by 37.4% in the second quarter. Stephens Consulting LLC now owns 261 shares of the semiconductor manufacturer’s stock valued at $72,000 after purchasing an additional 71 shares during the period. Gordian Advisors LLC purchased a new position in Broadcom in the second quarter valued at about $219,000. Finally, Almanack Investment Partners LLC. purchased a new stake in shares of Broadcom during the second quarter worth about $240,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadcom

In other news, CEO Hock E. Tan sold 148,154 shares of the business’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 transaction of $49,879,007.18. Following the completion of the transaction, the chief executive officer directly owned 825,998 shares in the company, valued at approximately $278,088,746.66. The trade was a 15.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction, the insider owned 329,302 shares of the company’s stock, valued at approximately $114,468,668.22. This represents a 4.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 3,550 shares of company stock valued at $1,227,869 and sold 665,271 shares valued at $225,464,248. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on AVGO shares. UBS Group set a $415.00 target price on Broadcom and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Rosenblatt Securities lifted their target price on Broadcom from $340.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, September 5th. Evercore ISI lifted their target price on Broadcom from $342.00 to $403.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 15th. HSBC raised Broadcom from a “hold” rating to a “buy” rating and set a $400.00 target price on the stock in a research report on Tuesday, June 24th. Finally, Macquarie began coverage on Broadcom in a research note on Monday, September 15th. They issued an “outperform” rating and a $420.00 price target for the company. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $372.33.

Broadcom Stock Performance

Shares of AVGO stock opened at $349.33 on Monday. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86. The business has a 50 day moving average of $327.73 and a two-hundred day moving average of $270.05. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $374.23. The company has a market cap of $1.65 trillion, a P/E ratio of 89.11, a PEG ratio of 1.97 and a beta of 1.20.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 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 firm posted $1.24 earnings per share. Broadcom’s quarterly revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. As a group, analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were given a dividend of $0.59 per share. The ex-dividend date was Monday, September 22nd. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Broadcom’s payout ratio is currently 60.20%.

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.