Alight Capital Management LP Sells 5,000 Shares of Broadcom Inc. $AVGO

Key Points

• Alight Capital Management LP reduced its holdings in Broadcom Inc. by 33.3%, owning 10,000 shares after selling 5,000 shares, valued at approximately $1.67 million.
• Several major investors, including Nuveen LLC and Price T Rowe Associates Inc., significantly increased their positions in Broadcom during the first quarter, with hedge funds now holding 76.43% of the stock.
• Broadcom's stock is currently priced at around $298.24, with analysts giving it a consensus rating of "Buy" and a price target averaging $302.58.

Alight Capital Management LP lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 33.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,000 shares of the semiconductor manufacturer's stock after selling 5,000 shares during the period. Alight Capital Management LP's holdings in Broadcom were worth $1,674,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AVGO. PARUS FINANCE UK Ltd lifted its holdings in shares of Broadcom by 175.3% during the 1st quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer's stock valued at $16,840,000 after purchasing an additional 64,038 shares in the last quarter. Keener Financial Planning LLC lifted its holdings in shares of Broadcom by 34.8% during the 1st quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer's stock valued at $149,000 after purchasing an additional 230 shares in the last quarter. Diversify Wealth Management LLC lifted its holdings in shares of Broadcom by 5.6% during the 1st quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer's stock valued at $6,365,000 after purchasing an additional 2,016 shares in the last quarter. OMNI 360 Wealth Inc. lifted its holdings in shares of Broadcom by 51.6% during the 1st quarter. OMNI 360 Wealth Inc. now owns 2,980 shares of the semiconductor manufacturer's stock valued at $499,000 after purchasing an additional 1,014 shares in the last quarter. Finally, Gamco Investors INC. ET AL lifted its holdings in shares of Broadcom by 1.3% during the 1st quarter. Gamco Investors INC. ET AL now owns 54,406 shares of the semiconductor manufacturer's stock valued at $9,109,000 after purchasing an additional 700 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Insider Activity

In other Broadcom news, Director Henry Samueli sold 473,898 shares of the company's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the sale, the director directly owned 38,188,575 shares of the company's stock, valued at approximately $10,132,574,604.75. This represents a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Gayla J. Delly sold 3,000 shares of the company's stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $265.13, for a total transaction of $795,390.00. Following the sale, the director directly owned 33,352 shares in the company, valued at $8,842,615.76. This trade represents a 8.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 830,516 shares of company stock valued at $217,286,457. 2.00% of the stock is owned by corporate insiders.

Broadcom Stock Up 9.4%

Shares of Broadcom stock traded up $28.79 on Friday, reaching $334.89. 78,318,626 shares of the company were exchanged, compared to its average volume of 17,635,120. The company has a market capitalization of $1.58 trillion, a price-to-earnings ratio of 85.43, a PEG ratio of 2.17 and a beta of 1.16. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. Broadcom Inc. has a one year low of $134.90 and a one year high of $356.34. The company has a 50-day moving average of $292.09 and a 200 day moving average of $237.25.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.03. Broadcom had a net margin of 31.59% and a return on equity of 37.17%. The firm had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. During the same period in the prior year, the firm posted $1.24 earnings per share. The company's quarterly revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. On average, equities research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, September 22nd. Broadcom's dividend payout ratio is 88.39%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on AVGO shares. Morgan Stanley lifted their price objective on Broadcom from $338.00 to $357.00 and gave the company an "overweight" rating in a report on Tuesday. Citigroup lifted their price objective on Broadcom from $315.00 to $350.00 and gave the company a "buy" rating in a report on Friday. Bank of America lifted their price objective on Broadcom from $300.00 to $400.00 and gave the company a "buy" rating in a report on Friday. KeyCorp boosted their target price on Broadcom from $330.00 to $400.00 and gave the company an "overweight" rating in a research note on Friday. Finally, Redburn Atlantic assumed coverage on Broadcom in a research note on Wednesday, May 28th. They issued a "buy" rating and a $301.00 target price on the stock. Three analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $351.00.

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.