Drive Wealth Management LLC Has $3.87 Million Position in Broadcom Inc. $AVGO

Drive Wealth Management LLC reduced its stake in Broadcom Inc. (NASDAQ:AVGO) by 3.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 14,045 shares of the semiconductor manufacturer’s stock after selling 521 shares during the quarter. Broadcom makes up 0.8% of Drive Wealth Management LLC’s investment portfolio, making the stock its 23rd largest holding. Drive Wealth Management LLC’s holdings in Broadcom were worth $3,871,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Sawyer & Company Inc lifted its holdings in shares of Broadcom by 62.1% during the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 36 shares during the last quarter. PFS Partners LLC increased its position in shares of Broadcom by 38.4% during the second quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer’s stock valued at $38,000 after purchasing an additional 38 shares during the period. Costello Asset Management INC increased its position in shares of Broadcom by 1.5% during the second quarter. Costello Asset Management INC now owns 2,528 shares of the semiconductor manufacturer’s stock valued at $697,000 after purchasing an additional 38 shares during the period. Waddell & Associates LLC increased its position in shares of Broadcom by 2.1% during the first quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer’s stock valued at $350,000 after purchasing an additional 43 shares during the period. Finally, Luts & Greenleigh Group Inc. increased its position in shares of Broadcom by 1.3% during the second quarter. Luts & Greenleigh Group Inc. now owns 3,405 shares of the semiconductor manufacturer’s stock valued at $939,000 after purchasing an additional 44 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. TD Cowen boosted their price objective on Broadcom from $355.00 to $370.00 and gave the company a “buy” rating in a research report on Friday, September 5th. Wall Street Zen cut Broadcom from a “buy” rating to a “hold” rating in a research report on Saturday. Benchmark boosted their price objective on Broadcom from $315.00 to $385.00 and gave the company a “buy” rating in a research report on Friday, September 5th. Rosenblatt Securities boosted their price objective on Broadcom from $340.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, September 5th. Finally, Evercore ISI upped their price target on Broadcom from $342.00 to $403.00 and gave the company an “outperform” rating in a research report on Wednesday, October 15th. Three research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $372.52.

Insider Activity at Broadcom

In related news, insider Charlie B. Kawwas sold 3,893 shares of the firm’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 transaction, the insider owned 25,295 shares in the company, valued at $8,798,106.90. This trade represents a 13.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 16,558 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total value of $5,755,726.38. Following the completion of the transaction, the insider owned 329,302 shares in the company, valued at approximately $114,468,668.22. This represents a 4.79% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 3,550 shares of company stock valued at $1,227,869 and have sold 665,271 shares valued at $225,464,248. Company insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of AVGO stock opened at $354.13 on Friday. The stock’s fifty day moving average is $331.47 and its 200-day moving average is $275.94. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. The stock has a market capitalization of $1.67 trillion, a PE ratio of 90.34, a PEG ratio of 1.99 and a beta of 1.20. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $374.23.

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

Broadcom Dividend Announcement

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