Sentry Investment Management LLC Lowers Position in Broadcom Inc. $AVGO

Sentry Investment Management LLC reduced its stake in Broadcom Inc. (NASDAQ:AVGO) by 3.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,232 shares of the semiconductor manufacturer’s stock after selling 488 shares during the quarter. Broadcom comprises about 1.8% of Sentry Investment Management LLC’s portfolio, making the stock its 7th largest holding. Sentry Investment Management LLC’s holdings in Broadcom were worth $3,325,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in AVGO. PARUS FINANCE UK Ltd grew its stake in Broadcom by 175.3% in the 1st quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer’s stock valued at $16,840,000 after acquiring an additional 64,038 shares during the period. Geneos Wealth Management Inc. grew its position in shares of Broadcom by 27.9% during the first quarter. Geneos Wealth Management Inc. now owns 64,130 shares of the semiconductor manufacturer’s stock worth $10,737,000 after buying an additional 13,978 shares in the last quarter. Asio Capital LLC boosted its holdings in shares of Broadcom by 2.0% in the second quarter. Asio Capital LLC now owns 54,459 shares of the semiconductor manufacturer’s stock valued at $15,012,000 after acquiring an additional 1,089 shares during the period. Keener Financial Planning LLC raised its stake in shares of Broadcom by 34.8% during the first quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer’s stock worth $149,000 after purchasing an additional 230 shares during the last quarter. Finally, Diversify Wealth Management LLC raised its position in Broadcom by 5.6% in the first quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer’s stock worth $6,365,000 after acquiring an additional 2,016 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Kirsten M. Spears sold 7,498 shares of the 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 sale, the chief financial officer owned 313,330 shares of the company’s stock, valued at $108,932,307.80. This represents a 2.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mark David Brazeal sold 16,558 shares of the stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total value of $5,755,726.38. Following the sale, the insider directly owned 329,302 shares in the company, valued at $114,468,668.22. This represents a 4.79% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 3,550 shares of company stock valued at $1,227,869 and have sold 665,271 shares valued at $225,464,248. 2.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AVGO. Wells Fargo & Company increased their price objective on Broadcom from $255.00 to $345.00 and gave the company an “equal weight” rating in a research note on Friday, September 5th. Deutsche Bank Aktiengesellschaft set a $400.00 price objective on Broadcom and gave the stock a “buy” rating in a report on Tuesday, October 14th. Macquarie began coverage on Broadcom in a research report on Monday, September 15th. They issued an “outperform” rating and a $420.00 target price for the company. JPMorgan Chase & Co. boosted their price objective on Broadcom from $325.00 to $400.00 and gave the company an “overweight” rating in a research report on Friday, September 5th. Finally, Argus lifted their target price on Broadcom from $285.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, September 8th. Three research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Broadcom currently has an average rating of “Buy” and an average target price of $372.52.

Broadcom Trading Up 2.9%

Shares of AVGO opened at $354.13 on Friday. The stock has a fifty day moving average price of $331.47 and a two-hundred day moving average price of $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. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $374.23. The company has a market cap of $1.67 trillion, a price-to-earnings ratio of 90.34, a PEG ratio of 1.99 and a beta of 1.20.

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

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were given a dividend of $0.59 per share. 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 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.