Broadcom Inc. $AVGO is Retirement Systems of Alabama’s 5th Largest Position

Retirement Systems of Alabama decreased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 1.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,110,720 shares of the semiconductor manufacturer’s stock after selling 37,700 shares during the quarter. Broadcom accounts for approximately 2.1% of Retirement Systems of Alabama’s holdings, making the stock its 5th biggest position. Retirement Systems of Alabama’s holdings in Broadcom were worth $581,820,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Sawyer & Company Inc raised its position in Broadcom by 62.1% in the 2nd 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. Legend Financial Advisors Inc. purchased a new position in Broadcom in the 2nd quarter worth about $28,000. LGT Financial Advisors LLC purchased a new position in Broadcom in the 2nd quarter worth about $31,000. Maseco LLP purchased a new position in Broadcom in the 2nd quarter worth about $34,000. Finally, PFS Partners LLC raised its position in Broadcom by 38.4% in the 2nd quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer’s stock worth $38,000 after buying an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Trading Down 1.9%

Shares of NASDAQ:AVGO opened at $362.55 on Tuesday. The stock has a 50 day moving average of $340.67 and a 200 day moving average of $285.47. The company has a market cap of $1.71 trillion, a PE ratio of 92.49, a price-to-earnings-growth ratio of 2.08 and a beta of 1.19. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $386.48.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) 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 company had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.82 billion. During the same period in the previous year, the company posted $1.24 EPS. The firm’s revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. As a group, equities research analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

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

Insider Buying and Selling

In related news, insider Charlie B. Kawwas sold 3,893 shares of the business’s stock in a transaction that occurred on 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 directly owned 25,295 shares of the company’s stock, valued at approximately $8,798,106.90. The trade was a 13.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark David Brazeal sold 16,558 shares of the business’s 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 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, 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 currently owned by company insiders.

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of recent research reports. Bank of America boosted their price target on Broadcom from $300.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, September 5th. Evercore ISI boosted their price target on Broadcom from $342.00 to $403.00 and gave the company an “outperform” rating in a research note on Wednesday, October 15th. Macquarie initiated coverage on Broadcom in a research note on Monday, September 15th. They set an “outperform” rating and a $420.00 price target for the company. Rosenblatt Securities boosted their price target on Broadcom from $340.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, September 5th. Finally, JPMorgan Chase & Co. boosted their price target on Broadcom from $325.00 to $400.00 and gave the company an “overweight” rating in a research note on Friday, September 5th. 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 company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $372.52.

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.