Laffer Tengler Investments Inc. Sells 14,597 Shares of Broadcom Inc. $AVGO

Laffer Tengler Investments Inc. lessened its stake in Broadcom Inc. (NASDAQ:AVGO) by 13.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 92,327 shares of the semiconductor manufacturer’s stock after selling 14,597 shares during the quarter. Broadcom comprises 4.5% of Laffer Tengler Investments Inc.’s portfolio, making the stock its largest holding. Laffer Tengler Investments Inc.’s holdings in Broadcom were worth $25,450,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in AVGO. Vise Technologies Inc. acquired a new position in shares of Broadcom in the 2nd quarter valued at $26,578,000. Cahill Financial Advisors Inc. grew its holdings in Broadcom by 11.9% during the 2nd quarter. Cahill Financial Advisors Inc. now owns 2,707 shares of the semiconductor manufacturer’s stock valued at $746,000 after buying an additional 287 shares during the last quarter. Alpha Cubed Investments LLC raised its holdings in shares of Broadcom by 1,217.9% in the second quarter. Alpha Cubed Investments LLC now owns 368,561 shares of the semiconductor manufacturer’s stock worth $101,594,000 after acquiring an additional 340,595 shares during the last quarter. Allworth Financial LP grew its holdings in shares of Broadcom by 15.6% during the second quarter. Allworth Financial LP now owns 370,837 shares of the semiconductor manufacturer’s stock worth $102,221,000 after buying an additional 49,969 shares in the last quarter. Finally, Addison Advisors LLC raised its position in shares of Broadcom by 3.1% in the second quarter. Addison Advisors LLC now owns 5,496 shares of the semiconductor manufacturer’s stock valued at $1,515,000 after buying an additional 163 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of recent analyst reports. Arete Research upgraded shares of Broadcom to a “strong-buy” rating in a report on Monday, July 28th. JPMorgan Chase & Co. raised their target price on Broadcom from $325.00 to $400.00 and gave the company an “overweight” rating in a research note on Friday, September 5th. UBS Group set a $415.00 target price on shares of Broadcom and gave the company a “buy” rating in a research note on Tuesday, October 14th. The Goldman Sachs Group reiterated a “buy” rating and set a $340.00 price objective on shares of Broadcom in a report on Wednesday, August 13th. Finally, Macquarie initiated coverage on Broadcom in a research report 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 issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $372.52.

Insider Buying and Selling at Broadcom

In other news, 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 sale, the insider directly owned 329,302 shares of the company’s stock, valued at $114,468,668.22. This represents a 4.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kirsten M. Spears sold 7,498 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total value of $2,606,754.68. Following the completion of the sale, the chief financial officer directly owned 313,330 shares in the company, valued at approximately $108,932,307.80. This represents a 2.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have purchased 3,550 shares of company stock worth $1,227,869 and have sold 664,471 shares worth $225,218,280. 2.00% of the stock is currently owned by company insiders.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $339.98 on Friday. The firm has a 50 day moving average of $348.93 and a 200-day moving average of $293.71. The stock has a market capitalization of $1.61 trillion, a PE ratio of 86.73, a PEG ratio of 1.43 and a beta of 1.19. 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 12 month low of $138.10 and a 12 month high of $386.48.

Broadcom (NASDAQ:AVGO) last posted 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 firm had revenue of $15.95 billion during the quarter, compared to analysts’ expectations of $15.82 billion. During the same quarter in the prior year, the business earned $1.24 earnings per share. The business’s revenue for the quarter was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. On average, equities research analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently declared 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. 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 presently 60.20%.

About Broadcom

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.