Sagace Wealth Management LLC Cuts Holdings in Broadcom Inc. $AVGO

Sagace Wealth Management LLC cut its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,425 shares of the semiconductor manufacturer’s stock after selling 174 shares during the quarter. Sagace Wealth Management LLC’s holdings in Broadcom were worth $668,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AVGO. Barnes Dennig Private Wealth Management LLC purchased a new position in Broadcom during the first quarter worth about $25,000. Cheviot Value Management LLC purchased a new position in Broadcom in the first quarter valued at about $25,000. Sawyer & Company Inc boosted its stake in Broadcom by 62.1% in the second 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 last quarter. Legend Financial Advisors Inc. purchased a new position in Broadcom in the second quarter valued at about $28,000. Finally, Wood Tarver Financial Group LLC boosted its stake in Broadcom by 342.5% in the first quarter. Wood Tarver Financial Group LLC now owns 177 shares of the semiconductor manufacturer’s stock valued at $30,000 after acquiring an additional 137 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Hock E. Tan sold 100,000 shares of the company’s stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $339.58, for a total value of $33,958,000.00. Following the completion of the sale, the chief executive officer owned 725,638 shares of the company’s stock, valued at approximately $246,412,152.04. This represents a 12.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Justine Page sold 800 shares of the company’s stock in a transaction on Tuesday, October 14th. The shares were sold at an average price of $350.15, for a total transaction of $280,120.00. Following the completion of the sale, the director directly owned 22,182 shares of the company’s stock, valued at $7,767,027.30. This trade represents a 3.48% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 3,550 shares of company stock worth $1,227,869 and have sold 665,271 shares worth $225,464,248. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft set a $400.00 target price on shares of Broadcom and gave the company a “buy” rating in a research note on Tuesday, October 14th. Citigroup reiterated a “buy” rating and issued a $415.00 target price (up from $350.00) on shares of Broadcom in a research note on Tuesday, October 14th. Sanford C. Bernstein boosted their target price on shares of Broadcom from $295.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday, September 5th. Truist Financial boosted their target price on shares of Broadcom from $295.00 to $365.00 and gave the company a “buy” rating in a research note on Friday, September 5th. Finally, Weiss Ratings cut shares of Broadcom from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Broadcom has a consensus rating of “Buy” and an average price target of $372.52.

Broadcom Stock Performance

Broadcom stock opened at $342.66 on Wednesday. The firm’s 50 day simple moving average is $329.23 and its 200 day simple moving average is $271.96. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $1.62 trillion, a PE ratio of 87.41, a price-to-earnings-growth ratio of 1.97 and a beta of 1.20. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $374.23.

Broadcom (NASDAQ:AVGO) last posted its 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 for 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%. Broadcom’s revenue was up 22.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. As a group, analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were paid a $0.59 dividend. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom’s dividend payout ratio is 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.