Metis Global Partners LLC Sells 26,610 Shares of Broadcom Inc. $AVGO

Metis Global Partners LLC cut its position in Broadcom Inc. (NASDAQ:AVGO) by 9.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 262,726 shares of the semiconductor manufacturer’s stock after selling 26,610 shares during the quarter. Broadcom comprises 1.9% of Metis Global Partners LLC’s holdings, making the stock its 9th biggest position. Metis Global Partners LLC’s holdings in Broadcom were worth $72,420,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cheviot Value Management LLC bought a new position in Broadcom in the 1st quarter worth approximately $25,000. Sawyer & Company Inc boosted its position in Broadcom by 62.1% during 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. acquired a new position in Broadcom during the 2nd quarter worth $28,000. LGT Financial Advisors LLC bought a new position in shares of Broadcom in the second quarter worth $31,000. Finally, Greenline Partners LLC acquired a new position in shares of Broadcom during the first quarter valued at $33,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AVGO has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft set a $400.00 target price on shares of Broadcom and gave the company a “buy” rating in a research report on Tuesday, October 14th. The Goldman Sachs Group reiterated a “buy” rating and set a $340.00 price objective on shares of Broadcom in a research note on Wednesday, August 13th. Bank of America lifted their price target on Broadcom from $300.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, September 5th. Evercore ISI upped their price objective on Broadcom from $342.00 to $403.00 and gave the company an “outperform” rating in a report on Wednesday, October 15th. Finally, UBS Group set a $415.00 target price on Broadcom and gave the company a “buy” rating in a research note on Tuesday, October 14th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $372.52.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $351.96 on Wednesday. The stock’s fifty day simple moving average is $347.20 and its 200 day simple moving average is $292.95. The stock has a market capitalization of $1.66 trillion, a price-to-earnings ratio of 89.79, a PEG ratio of 1.45 and a beta of 1.19. 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.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.03. The business 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%.Broadcom’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same quarter last year, the company posted $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. As a group, sell-side analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, September 22nd. Broadcom’s dividend payout ratio (DPR) is 60.20%.

Insider Buying and Selling at Broadcom

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

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.