AMI Asset Management Corp Sells 3,874 Shares of Broadcom Inc. $AVGO

Core Insights - AMI Asset Management Corp reduced its position in Broadcom Inc. by 1.7%, holding 224,889 shares valued at approximately $74.19 million, making it the 7th largest position in their portfolio [2] - Institutional investors collectively own 76.43% of Broadcom's stock, with several firms increasing their stakes in the company during the second quarter [3] Insider Transactions - Director Harry L. You purchased 1,000 shares at an average price of $325.13, increasing his ownership by 2.81% to a total of 36,602 shares valued at about $11.90 million [4] - CEO Hock E. Tan sold 100,000 shares at an average price of $345.65, resulting in a 16.79% decrease in his ownership to 495,638 shares valued at approximately $171.32 million [4] - In the last three months, insiders sold a total of 624,780 shares valued at $230.06 million, with corporate insiders owning 2.00% of the company's stock [4] Analyst Ratings and Price Targets - Weiss Ratings reaffirmed a "buy (b-)" rating for Broadcom, while Morgan Stanley raised its price target from $443.00 to $462.00, maintaining an "overweight" rating [5] - Other analysts, including Argus and JPMorgan Chase & Co., also increased their price targets, with a consensus target price of $436.33 and a majority rating of "Buy" [5] Financial Performance - Broadcom reported earnings of $1.95 per share for the last quarter, exceeding analysts' expectations of $1.87, with revenue of $18.02 billion, up 28.2% year-over-year [7] - The company has a return on equity of 37.45% and a net margin of 36.20%, with forecasts suggesting an EPS of 5.38 for the current year [7] Dividend Information - Broadcom announced a quarterly dividend of $0.65 per share, an increase from the previous $0.59, representing an annualized dividend of $2.60 and a yield of 0.7% [8] Company Overview - Broadcom Inc. is a global technology company specializing in semiconductor and infrastructure software solutions across various markets, including communications and cloud storage [9] - The company's semiconductor portfolio includes a range of products such as system-on-chip solutions, radio-frequency components, and networking silicon [10]