Auto Owners Insurance Co Lowers Stock Holdings in Broadcom Inc. $AVGO

Auto Owners Insurance Co reduced its position in Broadcom Inc. (NASDAQ:AVGO) by 99.6% in the 2nd quarter, Holdings Channel reports. The fund owned 2,390 shares of the semiconductor manufacturer’s stock after selling 647,610 shares during the period. Auto Owners Insurance Co’s holdings in Broadcom were worth $659,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AVGO. Cheviot Value Management LLC purchased a new stake in Broadcom in the 1st quarter worth approximately $25,000. Sawyer & Company Inc grew its stake 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 acquiring an additional 36 shares during the period. Legend Financial Advisors Inc. purchased a new stake in Broadcom in the 2nd quarter worth approximately $28,000. Wood Tarver Financial Group LLC grew its stake in Broadcom by 342.5% in the 1st quarter. Wood Tarver Financial Group LLC now owns 177 shares of the semiconductor manufacturer’s stock worth $30,000 after acquiring an additional 137 shares during the period. Finally, LGT Financial Advisors LLC purchased a new stake in Broadcom in the 2nd quarter worth approximately $31,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Broadcom news, CEO Hock E. Tan sold 148,154 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $336.67, for a total value of $49,879,007.18. Following the transaction, the chief executive officer directly owned 825,998 shares of the company’s stock, valued at $278,088,746.66. This trade represents a 15.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mark David Brazeal sold 16,558 shares of the business’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the completion of the transaction, the insider owned 329,302 shares in the company, valued at $114,468,668.22. This represents a 4.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders bought 3,550 shares of company stock valued at $1,227,869 and sold 665,271 shares valued at $225,464,248. 2.00% of the stock is owned by company insiders.

Broadcom Trading Down 1.8%

NASDAQ:AVGO opened at $369.63 on Monday. The business’s 50-day moving average is $339.31 and its two-hundred day moving average is $284.12. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $386.48. The firm has a market capitalization of $1.75 trillion, a PE ratio of 94.29, a price-to-earnings-growth ratio of 2.08 and a beta of 1.19.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, beating 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 company had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. During the same period last year, the company posted $1.24 earnings per share. The firm’s revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. Research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were given a $0.59 dividend. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $2.36 annualized dividend and a yield of 0.6%. Broadcom’s dividend payout ratio (DPR) is 60.20%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wall Street Zen cut shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Mizuho set a $435.00 price objective on shares of Broadcom and gave the company an “outperform” rating in a research note on Tuesday, October 21st. 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. 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. Finally, Evercore ISI boosted their price objective on shares of Broadcom from $342.00 to $403.00 and gave the company an “outperform” rating in a research note on Wednesday, October 15th. Three analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, 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.