Broadcom Inc. $AVGO Shares Sold by Princeton Global Asset Management LLC

Princeton Global Asset Management LLC reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 116,986 shares of the semiconductor manufacturer’s stock after selling 2,515 shares during the quarter. Broadcom comprises approximately 6.4% of Princeton Global Asset Management LLC’s holdings, making the stock its biggest position. Princeton Global Asset Management LLC’s holdings in Broadcom were worth $38,595,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Sawyer & Company Inc grew its holdings in Broadcom by 62.1% during the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 36 shares during the period. Longfellow Investment Management Co. LLC purchased a new position in shares of Broadcom during the 2nd quarter valued at approximately $27,000. Legend Financial Advisors Inc. purchased a new stake in Broadcom during the second quarter worth $28,000. Teachers Insurance & Annuity Association of America acquired a new stake in Broadcom during the second quarter valued at $28,000. Finally, LGT Financial Advisors LLC purchased a new position in Broadcom in the second quarter valued at $31,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of Broadcom stock opened at $340.36 on Friday. The stock has a market capitalization of $1.61 trillion, a P/E ratio of 71.50, a PEG ratio of 1.17 and a beta of 1.19. The business has a 50 day simple moving average of $362.98 and a two-hundred day simple moving average of $321.10. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $414.61. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.71 and a quick ratio of 1.58.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 EPS for the quarter, topping the consensus estimate of $1.87 by $0.08. The firm had revenue of $18.02 billion during the quarter, compared to analysts’ expectations of $17.46 billion. Broadcom had a return on equity of 37.45% and a net margin of 36.20%.The firm’s revenue for the quarter was up 28.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.42 earnings per share. As a group, analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd will be paid a $0.65 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.59. This represents a $2.60 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, December 22nd. Broadcom’s payout ratio is 49.58%.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Truist raised its price target to $510 and kept a buy stance, signaling big upside vs. current levels. AVGO: Broadcom price target raised by Truist
• Positive Sentiment: Company beat expectations and issued AI-related revenue commentary (large AI/XPU and networking opportunity), supporting a growth story tied to data-center demand. Broadcom soars past expectations with blockbuster results
• Positive Sentiment: Unusual options activity: traders bought ~323,615 call contracts, well above average, indicating speculative/hedged bullish bets on near-term upside.
• Positive Sentiment: Broadcom raised its quarterly dividend ~10% (new quarterly payment $0.65) — a sign of strong cash flow and shareholder returns. Broadcom stock just raised its dividend by 10%
• Neutral Sentiment: High-profile bullish coverage and commentary (Wall Street lists and media pieces) are amplifying interest but also raising expectations. Here’s why Wall Street is bullish on Broadcom stock (AVGO)
• Neutral Sentiment: Jim Cramer publicly said he isn’t very worried about Broadcom, which can calm retail sentiment but is not a fundamental driver. Jim Cramer says he is not that worried about Broadcom
• Negative Sentiment: Several insiders (including senior execs) have sold shares in recent filings — a potential overhang for sentiment even if sales may be for diversification/liquidity. Charlie Kawwas Sells 1,235 Shares of Broadcom
• Negative Sentiment: Sharp recent sell-off (~20% from pre-earnings levels) has created volatility and forced short-term selling pressure despite analysts raising targets. Broadcom Stock Crashes 20%—But Wall Street Sees It Soaring to $500

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. KeyCorp reissued an “overweight” rating and set a $500.00 target price (up from $460.00) on shares of Broadcom in a research note on Friday, December 12th. Rosenblatt Securities upped their price target on Broadcom from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. Wall Street Zen raised Broadcom from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Broadcom in a research note on Monday, December 15th. Finally, TD Cowen increased their target price on Broadcom from $405.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $436.33.

Insider Activity

In other news, insider Charlie B. Kawwas sold 1,928 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $327.80, for a total transaction of $631,998.40. Following the transaction, the insider directly owned 23,582 shares in the company, valued at $7,730,179.60. The trade was a 7.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Henry Samueli sold 368,797 shares of the company’s stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $337.91, for a total value of $124,620,194.27. Following the completion of the sale, the director owned 37,722,534 shares of the company’s stock, valued at $12,746,821,463.94. This trade represents a 0.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 863,577 shares of company stock valued at $311,694,744 in the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Company Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.