Parr Mcknight Wealth Management Group LLC Sells 3,113 Shares of Broadcom Inc. $AVGO

Parr Mcknight Wealth Management Group LLC trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 7.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 40,873 shares of the semiconductor manufacturer’s stock after selling 3,113 shares during the quarter. Broadcom comprises about 1.8% of Parr Mcknight Wealth Management Group LLC’s investment portfolio, making the stock its 7th largest holding. Parr Mcknight Wealth Management Group LLC’s holdings in Broadcom were worth $13,484,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Longfellow Investment Management Co. LLC bought a new position in shares of Broadcom during the second quarter worth approximately $27,000. Teachers Insurance & Annuity Association of America acquired a new stake in Broadcom during the second quarter worth approximately $28,000. New England Capital Financial Advisors LLC bought a new position in Broadcom during the 2nd quarter worth $31,000. JCIC Asset Management Inc. acquired a new position in Broadcom in the 3rd quarter valued at $31,000. Finally, Manning & Napier Advisors LLC acquired a new position in Broadcom in the 3rd quarter valued at $34,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Sanford C. Bernstein restated an “outperform” rating and issued a $475.00 price target (up from $400.00) on shares of Broadcom in a research report on Friday, December 12th. Weiss Ratings reiterated a “buy (b)” rating on shares of Broadcom in a research note on Monday, December 29th. Zacks Research upgraded shares of Broadcom from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. DA Davidson raised shares of Broadcom to a “hold” rating in a report on Friday, February 13th. Finally, Wolfe Research raised shares of Broadcom from a “peer perform” rating to an “outperform” rating and set a $400.00 price objective on the stock in a research note on Friday, January 30th. Two research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $433.13.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: New product catalyst — Broadcom introduced its BroadPeak connectivity chip targeting 5G Advanced and 6G with ~40% lower power use; company forecasts AI revenue to double and strong semiconductor growth, which supports longer-term revenue upside. Read More.
• Positive Sentiment: Analyst upgrades — Zacks moved AVGO to a Buy (Rank #2), reflecting rising optimism on earnings prospects that can help demand for the shares ahead of results. Read More.
• Positive Sentiment: Wall Street bullishness — Analysts’ consensus price targets imply substantial upside (reports show ~30–35% potential), keeping a favorable institutional bias into earnings. Read More.
• Positive Sentiment: Institutional interest — Notable funds (including ARK) added shares and some firms raised estimates, signaling continued investor conviction in AVGO’s AI exposure and growth runway. Read More.
• Neutral Sentiment: Earnings preview — Multiple previews expect Broadcom to meet/beat revenue and EPS estimates, but markets will key on Q2 guidance, gross-margin trajectory and management commentary on AI mix. Upcoming report is the immediate catalyst to watch. Read More.
• Neutral Sentiment: Options positioning — Some traders recommend covered-put or other income strategies into the quarter, indicating cautious, income-focused positioning rather than outright directional conviction. Read More.
• Negative Sentiment: Analyst target trim — Citi reduced its price target (from $480 to $458) despite keeping a Buy, a modest signal that some sell?side desks are tempering upside after recent guidance and margin discussion. Read More.
• Negative Sentiment: Near-term weakness & margin concerns — Recent coverage notes share declines and investor worry about gross-margin pressure from a faster-growing, lower?margin AI mix; that uncertainty is pressuring the stock into earnings. Read More.

Broadcom Trading Down 1.5%

AVGO opened at $325.49 on Wednesday. The company’s 50 day moving average is $336.79 and its 200-day moving average is $342.42. The company has a market cap of $1.54 trillion, a P/E ratio of 68.38, a PEG ratio of 1.06 and a beta of 1.21. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $414.61. The company has a current ratio of 1.71, a quick ratio of 1.58 and a debt-to-equity ratio of 0.76.

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

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd were 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 was Monday, December 22nd. This is a positive change from Broadcom’s previous quarterly dividend of $0.59. Broadcom’s payout ratio is presently 54.62%.

Insider Buying and Selling at Broadcom

In other news, CEO Hock E. Tan sold 130,000 shares of the firm’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $326.02, for a total transaction of $42,382,600.00. Following the completion of the transaction, the chief executive officer owned 595,638 shares of the company’s stock, valued at approximately $194,189,900.76. This trade represents a 17.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Henry Samueli sold 320,316 shares of Broadcom stock in a transaction on Monday, December 8th. The stock was sold at an average price of $400.53, for a total transaction of $128,296,167.48. Following the transaction, the director owned 37,326,540 shares in the company, valued at approximately $14,950,399,066.20. This trade represents a 0.85% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 779,101 shares of company stock valued at $283,804,325. Insiders own 2.00% of the company’s stock.

Broadcom Profile

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.