Bank of New York Mellon Corp Sells 1,941,603 Shares of Broadcom Inc. $AVGO

Bank of New York Mellon Corp decreased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 6.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 29,152,417 shares of the semiconductor manufacturer’s stock after selling 1,941,603 shares during the quarter. Broadcom accounts for about 1.5% of Bank of New York Mellon Corp’s holdings, making the stock its 7th largest holding. Bank of New York Mellon Corp’s holdings in Broadcom were worth $8,035,864,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its position in Broadcom by 0.4% during the first quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer’s stock worth $79,900,968,000 after acquiring an additional 2,085,534 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Broadcom by 37.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer’s stock worth $10,968,270,000 after purchasing an additional 17,985,046 shares in the last quarter. Nuveen LLC acquired a new position in shares of Broadcom during the 1st quarter worth about $6,649,117,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Broadcom by 2.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 35,243,467 shares of the semiconductor manufacturer’s stock valued at $5,900,814,000 after buying an additional 842,088 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Broadcom by 3.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,852,310 shares of the semiconductor manufacturer’s stock valued at $5,668,134,000 after buying an additional 1,043,948 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of research analyst reports. Barclays set a $450.00 target price on Broadcom and gave the company an “overweight” rating in a report on Tuesday, October 14th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $340.00 price target on shares of Broadcom in a research note on Wednesday, August 13th. TD Cowen increased 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. Benchmark raised their price objective on Broadcom from $315.00 to $385.00 and gave the company a “buy” rating in a report on Friday, September 5th. Finally, Piper Sandler lifted their target price on shares of Broadcom from $315.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Broadcom currently has an average rating of “Buy” and a consensus price target of $372.52.

Broadcom Stock Down 1.7%

Shares of NASDAQ AVGO opened at $349.43 on Friday. The company has a market capitalization of $1.65 trillion, a P/E ratio of 89.14, a P/E/G ratio of 1.43 and a beta of 1.19. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. The company has a 50 day simple moving average of $344.91 and a 200-day simple moving average of $289.00. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $386.48.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.03. The company had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The firm’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. On average, equities research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently declared 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. The ex-dividend date was Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom’s dividend payout ratio is currently 60.20%.

Insider Transactions at Broadcom

In other news, CEO Hock E. Tan sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $339.58, for a total value of $33,958,000.00. Following the sale, the chief executive officer directly owned 725,638 shares of the company’s stock, valued at approximately $246,412,152.04. The trade was a 12.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Justine Page sold 800 shares of the company’s stock in a transaction that occurred on Tuesday, October 14th. The stock was sold at an average price of $350.15, for a total transaction of $280,120.00. Following the completion of the transaction, the director owned 22,182 shares in the company, valued at approximately $7,767,027.30. This represents a 3.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders bought 3,550 shares of company stock worth $1,227,869 and sold 665,271 shares worth $225,464,248. Corporate insiders own 2.00% of the company’s stock.

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.