Harvard Management Co. Inc. Sells 129,000 Shares of Broadcom Inc. $AVGO

Harvard Management Co. Inc. decreased its stake in Broadcom Inc. (NASDAQ:AVGO) by 40.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 192,700 shares of the semiconductor manufacturer’s stock after selling 129,000 shares during the period. Broadcom makes up 3.7% of Harvard Management Co. Inc.’s investment portfolio, making the stock its 10th biggest position. Harvard Management Co. Inc.’s holdings in Broadcom were worth $53,118,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AVGO. Cheviot Value Management LLC bought a new position in Broadcom during the 1st quarter worth approximately $25,000. Sawyer & Company Inc boosted its stake in shares of Broadcom by 62.1% in the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 36 shares during the last quarter. Legend Financial Advisors Inc. acquired a new stake in shares of Broadcom during the second quarter worth $28,000. LGT Financial Advisors LLC bought a new position in Broadcom during the second quarter worth $31,000. Finally, New England Capital Financial Advisors LLC bought a new position in Broadcom during the second quarter worth $31,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Broadcom news, CFO Kirsten M. Spears sold 7,498 shares of Broadcom stock in a transaction dated 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 completion of the transaction, the chief financial officer owned 313,330 shares in the company, valued at approximately $108,932,307.80. The trade was a 2.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 sale, the insider directly owned 329,302 shares of the company’s stock, valued at $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. Over the last three months, insiders acquired 3,550 shares of company stock valued at $1,227,869 and sold 664,471 shares valued at $225,218,280. Corporate insiders own 2.00% of the company’s stock.

Broadcom Trading Up 0.1%

NASDAQ AVGO opened at $342.65 on Tuesday. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $386.48. The business has a 50 day moving average price of $349.03 and a 200-day moving average price of $297.23. The company has a market cap of $1.62 trillion, a price-to-earnings ratio of 87.41, a P/E/G ratio of 1.37 and a beta of 1.19.

Broadcom (NASDAQ:AVGO) last issued its 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 return on equity of 36.60% and a net margin of 31.59%.The company had revenue of $15.95 billion for the quarter, compared to analysts’ expectations of $15.82 billion. During the same period last year, the business earned $1.24 EPS. Broadcom’s quarterly revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. As a group, equities analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Monday, September 22nd. Broadcom’s dividend payout ratio (DPR) is currently 60.20%.

Analysts Set New Price Targets

AVGO has been the topic of a number of research analyst reports. Wells Fargo & Company upped their price target on shares of Broadcom from $255.00 to $345.00 and gave the company an “equal weight” rating in a research report on Friday, September 5th. UBS Group set a $415.00 target price on Broadcom and gave the company a “buy” rating in a research report on Tuesday, October 14th. Piper Sandler raised their target price on Broadcom from $315.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, September 5th. Morgan Stanley set a $409.00 price target on Broadcom and gave the company an “overweight” rating in a research note on Tuesday, October 14th. Finally, Rosenblatt Securities increased their price target on Broadcom from $340.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, September 5th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Broadcom presently has a consensus rating of “Buy” and a consensus target price of $372.52.

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.