MFG Wealth Management Inc. Decreases Stake in Broadcom Inc. $AVGO

MFG Wealth Management Inc. cut its position in Broadcom Inc. (NASDAQ:AVGO) by 26.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,657 shares of the semiconductor manufacturer’s stock after selling 2,810 shares during the period. Broadcom accounts for 1.9% of MFG Wealth Management Inc.’s investment portfolio, making the stock its 22nd largest holding. MFG Wealth Management Inc.’s holdings in Broadcom were worth $2,526,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Broadcom by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer’s stock worth $133,261,046,000 after acquiring an additional 6,222,802 shares in the last quarter. State Street Corp boosted its holdings in Broadcom by 0.5% in the second quarter. State Street Corp now owns 185,276,987 shares of the semiconductor manufacturer’s stock valued at $51,071,601,000 after purchasing an additional 873,963 shares in the last quarter. Geode Capital Management LLC increased its stake in Broadcom by 2.1% in the second quarter. Geode Capital Management LLC now owns 108,610,718 shares of the semiconductor manufacturer’s stock valued at $29,827,649,000 after purchasing an additional 2,226,585 shares during the last quarter. Norges Bank acquired a new stake in Broadcom during the second quarter worth approximately $18,579,549,000. Finally, Invesco Ltd. lifted its position in shares of Broadcom by 8.4% during the 2nd quarter. Invesco Ltd. now owns 38,449,630 shares of the semiconductor manufacturer’s stock worth $10,598,641,000 after buying an additional 2,978,768 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on AVGO shares. Barclays reaffirmed an “overweight” rating and issued a $500.00 target price (up from $450.00) on shares of Broadcom in a research report on Friday, December 12th. Oppenheimer raised their price objective on Broadcom from $435.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Argus lifted their target price on Broadcom from $285.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, September 8th. Evercore ISI upped their target price on Broadcom from $342.00 to $403.00 and gave the company an “outperform” rating in a research report on Wednesday, October 15th. Finally, Sanford C. Bernstein restated an “outperform” rating and set a $475.00 price target (up previously from $400.00) on shares of Broadcom in a research note on Friday, December 12th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $436.33.

Broadcom News Summary

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

Insider Activity at Broadcom

In other news, Director Henry Samueli sold 368,797 shares of the business’s stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $337.91, for a total transaction 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. The trade was a 0.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Hock E. Tan sold 100,000 shares of the stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $339.58, for a total transaction of $33,958,000.00. Following the transaction, the chief executive officer directly owned 725,638 shares of the company’s stock, valued at $246,412,152.04. This represents a 12.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 863,577 shares of company stock worth $311,694,744 in the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Up 3.2%

AVGO opened at $340.36 on Friday. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $414.61. The business has a 50 day moving average price of $362.98 and a two-hundred day moving average price of $320.66. The company has a quick ratio of 1.58, a current ratio of 1.71 and a debt-to-equity ratio of 0.76. The company has a market cap of $1.61 trillion, a PE ratio of 71.50, a P/E/G ratio of 1.13 and a beta of 1.19.

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

Broadcom Increases Dividend

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

About Broadcom

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.