Virtue Capital Management LLC Decreases Stake in Broadcom Inc. $AVGO

Virtue Capital Management LLC lessened its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 19.4% during the second quarter, HoldingsChannel reports. The fund owned 5,063 shares of the semiconductor manufacturer’s stock after selling 1,219 shares during the period. Virtue Capital Management LLC’s holdings in Broadcom were worth $1,396,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Sawyer & Company Inc lifted its stake in shares of 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 purchasing an additional 36 shares during the period. Longfellow Investment Management Co. LLC purchased a new position in Broadcom in the second quarter valued at about $27,000. Legend Financial Advisors Inc. purchased a new position in Broadcom in the second quarter valued at about $28,000. LGT Financial Advisors LLC acquired a new stake in shares of Broadcom during the 2nd quarter valued at approximately $31,000. Finally, New England Capital Financial Advisors LLC acquired a new stake in shares of Broadcom during the 2nd quarter valued at approximately $31,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on AVGO shares. The Goldman Sachs Group set a $435.00 price target on Broadcom and gave the stock a “buy” rating in a report on Tuesday. Mizuho set a $435.00 target price on Broadcom and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. KeyCorp set a $460.00 target price on Broadcom in a report on Monday, October 13th. Weiss Ratings raised Broadcom from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Broadcom from $325.00 to $400.00 and gave the stock an “overweight” rating in a research report on Friday, September 5th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $377.61.

Insider Buying and Selling at Broadcom

In related news, CEO Hock E. Tan sold 148,154 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $336.67, for a total transaction of $49,879,007.18. Following the sale, the chief executive officer owned 825,998 shares in the company, valued at approximately $278,088,746.66. This trade represents a 15.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kirsten M. Spears sold 7,498 shares of Broadcom 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 sale, the chief financial officer directly owned 313,330 shares of the company’s stock, valued at $108,932,307.80. The trade was a 2.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have bought 3,550 shares of company stock valued at $1,227,869 and have sold 665,271 shares valued at $225,483,192. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Up 3.3%

Shares of NASDAQ:AVGO opened at $397.57 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $1.88 trillion, a P/E ratio of 101.42, a P/E/G ratio of 1.35 and a beta of 1.19. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $399.87. The stock’s fifty day simple moving average is $351.00 and its 200-day simple moving average is $305.01.

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

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, September 22nd. Broadcom’s payout ratio is currently 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.