Park Edge Advisors LLC Sells 3,266 Shares of Broadcom Inc. $AVGO

Park Edge Advisors LLC reduced its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 30.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,543 shares of the semiconductor manufacturer’s stock after selling 3,266 shares during the quarter. Park Edge Advisors LLC’s holdings in Broadcom were worth $2,489,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AVGO. Sawyer & Company Inc grew its holdings in Broadcom by 62.1% during the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 36 shares in the last quarter. Longfellow Investment Management Co. LLC purchased a new position in Broadcom during the 2nd quarter worth $27,000. Legend Financial Advisors Inc. bought a new stake in shares of Broadcom in the 2nd quarter worth $28,000. Teachers Insurance & Annuity Association of America purchased a new stake in shares of Broadcom in the second quarter valued at about $28,000. Finally, LGT Financial Advisors LLC bought a new position in shares of Broadcom during the second quarter valued at about $31,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Up 3.2%

Shares of NASDAQ AVGO opened at $340.36 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.71 and a quick ratio of 1.58. The stock has a market capitalization of $1.61 trillion, a PE ratio of 71.50, a P/E/G ratio of 1.13 and a beta of 1.19. Broadcom Inc. has a one year low of $138.10 and a one year high of $414.61. The business’s fifty day moving average price is $362.98 and its 200-day moving average price is $320.66.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.08. The business had revenue of $18.02 billion for the quarter, compared to analysts’ expectations of $17.46 billion. Broadcom had a return on equity of 37.45% and a net margin of 36.20%.The firm’s quarterly revenue was up 28.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.42 EPS. On average, equities research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Monday, December 22nd. This is a positive change from Broadcom’s previous quarterly dividend of $0.59. Broadcom’s payout ratio is presently 49.58%.

Insider Activity

In other news, insider Mark David Brazeal sold 38,281 shares of the firm’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $327.65, for a total value of $12,542,769.65. Following the completion of the transaction, the insider directly owned 266,494 shares of the company’s stock, valued at $87,316,759.10. This trade represents a 12.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 1,928 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $327.80, for a total value of $631,998.40. Following the completion of the transaction, the insider owned 23,582 shares of the company’s stock, valued at approximately $7,730,179.60. This represents a 7.56% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 863,577 shares of company stock valued at $311,694,744. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

AVGO has been the subject of a number of recent analyst reports. Cowen reaffirmed a “buy” rating on shares of Broadcom in a research report on Friday, December 12th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $475.00 target price (up from $400.00) on shares of Broadcom in a report on Friday, December 12th. Citigroup reaffirmed a “buy” rating and set a $480.00 price target (up from $415.00) on shares of Broadcom in a research report on Friday, December 12th. TD Cowen upped their price objective on Broadcom from $405.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Finally, Wells Fargo & Company lifted their target price on Broadcom from $255.00 to $345.00 and gave the stock an “equal weight” rating in a research note on Friday, September 5th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $436.33.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Truist raised its price target to $510 and kept a buy stance, signaling big upside vs. current levels. AVGO: Broadcom price target raised by Truist
• Positive Sentiment: Company beat expectations and issued AI-related revenue commentary (large AI/XPU and networking opportunity), supporting a growth story tied to data-center demand. Broadcom soars past expectations with blockbuster results
• Positive Sentiment: Unusual options activity: traders bought ~323,615 call contracts, well above average, indicating speculative/hedged bullish bets on near-term upside.
• Positive Sentiment: Broadcom raised its quarterly dividend ~10% (new quarterly payment $0.65) — a sign of strong cash flow and shareholder returns. Broadcom stock just raised its dividend by 10%
• Neutral Sentiment: High-profile bullish coverage and commentary (Wall Street lists and media pieces) are amplifying interest but also raising expectations. Here’s why Wall Street is bullish on Broadcom stock (AVGO)
• Neutral Sentiment: Jim Cramer publicly said he isn’t very worried about Broadcom, which can calm retail sentiment but is not a fundamental driver. Jim Cramer says he is not that worried about Broadcom
• Negative Sentiment: Several insiders (including senior execs) have sold shares in recent filings — a potential overhang for sentiment even if sales may be for diversification/liquidity. Charlie Kawwas Sells 1,235 Shares of Broadcom
• Negative Sentiment: Sharp recent sell-off (~20% from pre-earnings levels) has created volatility and forced short-term selling pressure despite analysts raising targets. Broadcom Stock Crashes 20%—But Wall Street Sees It Soaring to $500

About Broadcom

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.