Reliant Investment Management LLC Lowers Stake in Broadcom Inc. $AVGO

Reliant Investment Management LLC cut its position in Broadcom Inc. (NASDAQ:AVGO) by 0.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,625 shares of the semiconductor manufacturer’s stock after selling 130 shares during the quarter. Broadcom comprises about 8.5% of Reliant Investment Management LLC’s holdings, making the stock its largest position. Reliant Investment Management LLC’s holdings in Broadcom were worth $19,743,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Sawyer & Company Inc raised its stake in shares of Broadcom by 62.1% in the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 36 shares during the period. Legend Financial Advisors Inc. bought a new stake in shares of Broadcom during the 2nd quarter valued at $28,000. LGT Financial Advisors LLC bought a new stake in shares of Broadcom during the 2nd quarter valued at $31,000. Maseco LLP bought a new stake in shares of Broadcom during the 2nd quarter valued at $34,000. Finally, PFS Partners LLC raised its stake in shares of Broadcom by 38.4% during the 2nd 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. 76.43% of the stock is currently owned by institutional investors.

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 16,558 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider directly owned 329,302 shares in the company, valued at approximately $114,468,668.22. This represents a 4.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kirsten M. Spears sold 7,498 shares of the company’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total value of $2,606,754.68. Following the completion of the transaction, the chief financial officer owned 313,330 shares of the company’s stock, valued at $108,932,307.80. The trade was a 2.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders bought 3,550 shares of company stock worth $1,227,869 and sold 665,271 shares worth $225,464,248. 2.00% of the stock is owned by company insiders.

Broadcom Price Performance

Broadcom stock opened at $372.97 on Wednesday. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $374.23. The business has a 50-day simple moving average of $334.16 and a 200 day simple moving average of $279.21. 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 $1.76 trillion, a price-to-earnings ratio of 95.15, a PEG ratio of 2.04 and a beta of 1.20.

Broadcom (NASDAQ:AVGO) last posted 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. 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 analysts’ expectations of $15.82 billion. During the same period in the previous year, the business earned $1.24 earnings per share. The firm’s revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. On average, research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were issued 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 is presently 60.20%.

Wall Street Analysts Forecast Growth

A number of analysts 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 note on Friday, September 5th. 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 note on Friday, September 5th. Sanford C. Bernstein boosted their price objective on Broadcom from $295.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday, September 5th. Benchmark boosted their price objective on Broadcom from $315.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, September 5th. Finally, Citigroup reiterated a “buy” rating and set a $415.00 price objective (up from $350.00) on shares of Broadcom in a research note on Tuesday, October 14th. Three research 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $372.52.

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.