Birinyi Associates Inc. Sells 595 Shares of Broadcom Inc. $AVGO

Birinyi Associates Inc. trimmed its position in Broadcom Inc. (NASDAQ:AVGO) by 3.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 17,924 shares of the semiconductor manufacturer’s stock after selling 595 shares during the period. Broadcom accounts for approximately 1.4% of Birinyi Associates Inc.’s investment portfolio, making the stock its 18th biggest position. Birinyi Associates Inc.’s holdings in Broadcom were worth $4,941,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Nuveen LLC bought a new position in Broadcom during the 1st quarter worth $6,649,117,000. Price T Rowe Associates Inc. MD raised its position in Broadcom by 37.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer’s stock worth $10,968,270,000 after purchasing an additional 17,985,046 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Broadcom by 16.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer’s stock worth $5,333,384,000 after purchasing an additional 4,550,647 shares during the last quarter. Deutsche Bank AG raised its position in Broadcom by 36.9% during the 1st quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer’s stock worth $2,638,512,000 after purchasing an additional 4,245,345 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in Broadcom by 16.0% during the 1st quarter. Alliancebernstein L.P. now owns 29,513,814 shares of the semiconductor manufacturer’s stock worth $4,941,498,000 after purchasing an additional 4,077,910 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on AVGO. Mizuho set a $430.00 target price on Broadcom in a research report on Monday. Morgan Stanley raised their target price on Broadcom from $338.00 to $357.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 2nd. Sanford C. Bernstein raised their target price on Broadcom from $295.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, September 5th. Evercore ISI reissued an “outperform” rating and issued a $342.00 price objective (up from $304.00) on shares of Broadcom in a research report on Thursday, September 4th. Finally, Wall Street Zen raised Broadcom from a “hold” rating to a “buy” rating in a research report on Saturday, September 6th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $359.44.

Broadcom Stock Performance

Shares of Broadcom stock opened at $356.70 on Tuesday. Broadcom Inc. has a one year low of $138.10 and a one year high of $374.23. The firm has a market capitalization of $1.68 trillion, a price-to-earnings ratio of 90.99, a PEG ratio of 1.80 and a beta of 1.20. The business has a 50-day simple moving average of $323.82 and a 200 day simple moving average of $264.90. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37.

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

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Monday, September 22nd. Broadcom’s payout ratio is presently 60.20%.

Insiders Place Their Bets

In related news, insider Charlie B. Kawwas sold 3,893 shares of the business’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total value of $1,354,063.26. Following the completion of the sale, the insider directly owned 25,295 shares of the company’s stock, valued at $8,798,106.90. The trade was a 13.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Henry Samueli sold 368,797 shares of Broadcom stock in a transaction dated 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 transaction, 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 position. The disclosure for this sale can be found here. Over the last three months, insiders purchased 3,550 shares of company stock worth $1,227,869 and sold 664,471 shares worth $225,184,128. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Company 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.