Itau Unibanco Holding S.A. Cuts Holdings in Broadcom Inc. $AVGO

Itau Unibanco Holding S.A. lowered its holdings in Broadcom Inc. (NASDAQ:AVGO) by 14.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,329 shares of the semiconductor manufacturer’s stock after selling 13,552 shares during the quarter. Itau Unibanco Holding S.A.’s holdings in Broadcom were worth $21,867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Sawyer & Company Inc lifted its stake in Broadcom by 62.1% during the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 36 shares during the period. Legend Financial Advisors Inc. bought a new stake in shares of Broadcom in the second quarter worth approximately $28,000. LGT Financial Advisors LLC purchased a new position in shares of Broadcom during the second quarter valued at approximately $31,000. New England Capital Financial Advisors LLC bought a new position in Broadcom during the second quarter valued at approximately $31,000. Finally, Maseco LLP bought a new position in Broadcom during the second quarter valued at approximately $34,000. 76.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on AVGO shares. KeyCorp set a $460.00 target price on shares of Broadcom in a research report on Monday, October 13th. Wells Fargo & Company raised their price target on Broadcom from $255.00 to $345.00 and gave the stock an “equal weight” rating in a research note on Friday, September 5th. Argus upped their price objective on Broadcom from $285.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, September 8th. Rosenblatt Securities increased their target price on Broadcom from $340.00 to $400.00 and gave the company a “buy” rating in a report on Friday, September 5th. Finally, Barclays set a $450.00 target price on Broadcom and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $372.52.

Broadcom Stock Down 0.6%

AVGO stock opened at $340.50 on Wednesday. The business’s 50-day moving average price is $349.10 and its 200-day moving average price is $298.19. The stock 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 Inc. has a twelve month low of $138.10 and a twelve month high of $386.48. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.03. The business had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The company’s revenue was up 22.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. On average, equities research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The firm also recently announced 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. The ex-dividend date was Monday, September 22nd. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Broadcom’s dividend payout ratio (DPR) is currently 60.20%.

Insider Activity

In other Broadcom news, CFO Kirsten M. Spears sold 7,498 shares of the firm’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 transaction of $2,606,754.68. Following the completion of the transaction, the chief financial officer owned 313,330 shares in the company, valued at $108,932,307.80. This trade represents a 2.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Hock E. Tan sold 148,154 shares of the company’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 value of $49,879,007.18. Following the sale, the chief executive officer directly owned 825,998 shares in the company, valued at $278,088,746.66. This trade represents a 15.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have purchased 3,550 shares of company stock valued at $1,227,869 and have sold 665,271 shares valued at $225,483,192. Insiders own 2.00% of the company’s stock.

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.