Cidel Asset Management Inc. Sells 506 Shares of Broadcom Inc. $AVGO

Cidel Asset Management Inc. cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 8.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,670 shares of the semiconductor manufacturer’s stock after selling 506 shares during the period. Cidel Asset Management Inc.’s holdings in Broadcom were worth $1,563,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on AVGO. Barclays set a $450.00 price objective on Broadcom and gave the company an “overweight” rating in a research report on Tuesday, October 14th. The Goldman Sachs Group reissued a “buy” rating and issued a $340.00 target price on shares of Broadcom in a research report on Wednesday, August 13th. JPMorgan Chase & Co. raised their target price on Broadcom from $325.00 to $400.00 and gave the stock an “overweight” rating in a research report on Friday, September 5th. Macquarie assumed coverage on Broadcom in a research report on Monday, September 15th. They issued an “outperform” rating and a $420.00 target price on the stock. Finally, Argus raised 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. Three research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Broadcom has a consensus rating of “Buy” and an average price target of $372.52.

Insider Activity at Broadcom

In related news, CEO Hock E. Tan sold 100,000 shares of Broadcom stock in a transaction that occurred on 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 sale, the chief executive officer owned 725,638 shares of the company’s stock, valued at approximately $246,412,152.04. This trade represents a 12.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 3,893 shares of Broadcom stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total value of $1,354,063.26. Following the sale, the insider directly owned 25,295 shares in the company, valued at $8,798,106.90. This trade represents a 13.34% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have purchased 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.

Broadcom Stock Up 2.9%

AVGO stock opened at $354.13 on Friday. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $374.23. 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 stock has a market cap of $1.67 trillion, a P/E ratio of 90.34, a PEG ratio of 1.99 and a beta of 1.20. The business’s 50-day moving average price is $331.47 and its 200-day moving average price is $275.94.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share 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 firm had revenue of $15.95 billion for the quarter, compared to analysts’ expectations of $15.82 billion. During the same period in the previous year, the firm earned $1.24 EPS. The business’s quarterly revenue was up 22.0% on a year-over-year basis. 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 Dividend Announcement

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

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.