Bridges Investment Management Inc. Sells 6,863 Shares of Broadcom Inc. $AVGO

Bridges Investment Management Inc. lessened its holdings in Broadcom Inc. (NASDAQ:AVGO) by 1.7% in the second quarter, Holdings Channel reports. The institutional investor owned 393,367 shares of the semiconductor manufacturer’s stock after selling 6,863 shares during the period. Broadcom accounts for approximately 1.5% of Bridges Investment Management Inc.’s holdings, making the stock its 19th largest position. Bridges Investment Management Inc.’s holdings in Broadcom were worth $108,432,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Broadcom by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer’s stock valued at $79,900,968,000 after purchasing an additional 2,085,534 shares during the period. Price T Rowe Associates Inc. MD increased its position in Broadcom by 37.8% during the 1st 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 purchasing an additional 17,985,046 shares during the period. Nuveen LLC acquired a new stake in Broadcom during the 1st quarter valued at approximately $6,649,117,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Broadcom by 2.4% during the 1st 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 purchasing an additional 842,088 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Broadcom by 3.2% during the 1st 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 purchasing an additional 1,043,948 shares during the period. Institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of AVGO opened at $342.66 on Wednesday. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $374.23. The business’s fifty day moving average is $329.23 and its 200 day moving average is $271.96. 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 stock has a market cap 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.

Broadcom (NASDAQ:AVGO) last issued 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 return on equity of 36.60% and a net margin of 31.59%.The company had revenue of $15.95 billion for the quarter, compared to analysts’ expectations of $15.82 billion. During the same period last year, the business earned $1.24 EPS. Broadcom’s quarterly revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. Sell-side analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Monday, September 22nd. Broadcom’s dividend payout ratio (DPR) is currently 60.20%.

Insider Buying and Selling

In related news, Director Henry Samueli sold 368,797 shares of the stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $337.91, for a total value of $124,620,194.27. Following the transaction, the director directly owned 37,722,534 shares in the company, valued at $12,746,821,463.94. This trade represents a 0.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 value of $5,755,726.38. Following the completion of the transaction, the insider owned 329,302 shares in the company, 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. Over the last quarter, 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 company insiders.

Analyst Ratings Changes

A number of analysts have weighed in on AVGO shares. Barclays set a $450.00 target price on shares of Broadcom and gave the company an “overweight” rating in a research report on Tuesday, October 14th. UBS Group set a $415.00 price target on Broadcom and gave the stock a “buy” rating in a report on Tuesday, October 14th. Truist Financial increased their price target on Broadcom from $295.00 to $365.00 and gave the stock a “buy” rating in a report on Friday, September 5th. Wall Street Zen upgraded Broadcom from a “hold” rating to a “buy” rating in a report on Saturday, September 6th. Finally, HSBC upgraded Broadcom from a “hold” rating to a “buy” rating and set a $400.00 price target on the stock in a report on Tuesday, June 24th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Broadcom has a consensus rating of “Buy” and a consensus target price of $372.52.

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.