Connors Investor Services Inc. Decreases Stock Position in Broadcom Inc. $AVGO

Connors Investor Services Inc. cut its position in Broadcom Inc. (NASDAQ:AVGO) by 7.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 51,959 shares of the semiconductor manufacturer’s stock after selling 4,026 shares during the quarter. Connors Investor Services Inc.’s holdings in Broadcom were worth $14,322,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Warther Private Wealth LLC boosted its stake in shares of Broadcom by 2,839.2% in the second quarter. Warther Private Wealth LLC now owns 61,400 shares of the semiconductor manufacturer’s stock valued at $16,925,000 after purchasing an additional 59,311 shares during the period. Castle Wealth Management LLC boosted its stake in shares of Broadcom by 0.9% in the second quarter. Castle Wealth Management LLC now owns 10,930 shares of the semiconductor manufacturer’s stock valued at $3,013,000 after purchasing an additional 96 shares during the period. Principle Wealth Partners LLC boosted its stake in shares of Broadcom by 39.5% in the second quarter. Principle Wealth Partners LLC now owns 4,861 shares of the semiconductor manufacturer’s stock valued at $1,340,000 after purchasing an additional 1,376 shares during the period. Prosperity Financial Group Inc. boosted its stake in shares of Broadcom by 0.4% in the second quarter. Prosperity Financial Group Inc. now owns 11,379 shares of the semiconductor manufacturer’s stock valued at $3,137,000 after purchasing an additional 49 shares during the period. Finally, Clifford Swan Investment Counsel LLC boosted its stake in shares of Broadcom by 0.8% in the second quarter. Clifford Swan Investment Counsel LLC now owns 28,793 shares of the semiconductor manufacturer’s stock valued at $7,937,000 after purchasing an additional 233 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Weiss Ratings upgraded shares of Broadcom from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 24th. TD Cowen increased their price objective on shares of Broadcom from $355.00 to $370.00 and gave the company a “buy” rating in a research note on Friday, September 5th. UBS Group set a $415.00 price objective on shares of Broadcom and gave the company a “buy” rating in a research note on Tuesday, October 14th. Oppenheimer reiterated an “outperform” rating and set a $360.00 price objective (up from $325.00) on shares of Broadcom in a research note on Friday, September 5th. Finally, Barclays set a $450.00 price objective on shares of Broadcom and gave the company an “overweight” rating in a research note on Tuesday, October 14th. Three investment analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $372.52.

Insider Buying and Selling

In other news, CFO Kirsten M. Spears sold 7,498 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total value of $2,606,754.68. Following the transaction, the chief financial officer directly owned 313,330 shares in the company, valued at approximately $108,932,307.80. This trade represents a 2.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 16,558 shares of Broadcom stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the completion of the sale, the insider owned 329,302 shares in the company, valued at approximately $114,468,668.22. This represents a 4.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders purchased 3,550 shares of company stock worth $1,227,869 and sold 665,271 shares worth $225,464,248. Corporate insiders own 2.00% of the company’s stock.

Broadcom Trading Up 3.0%

Broadcom stock opened at $372.97 on Wednesday. The firm’s 50-day moving average is $334.16 and its 200-day moving average is $279.21. 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 1 year low of $138.10 and a 1 year high of $374.23. The company has a market cap of $1.76 trillion, a P/E ratio of 95.15, a PEG ratio of 2.04 and a beta of 1.20.

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

Broadcom Announces Dividend

The firm also recently declared 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 was Monday, September 22nd. Broadcom’s dividend payout ratio (DPR) is presently 60.20%.

Broadcom 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.