AlTi Global Inc. Sells 870 Shares of Broadcom Inc. $AVGO

Key Points

• AlTi Global Inc. reduced its stake in Broadcom Inc. by 3.6%, owning 23,094 shares valued at approximately $3.87 million after selling 870 shares.
• Analysts have increased their price targets for Broadcom, with Citigroup raising theirs from $285 to $315 and UBS Group elevating it to $345, reflecting strong market confidence.
• Broadcom's recent earnings report showed revenue growth of 20.2% year-over-year, with earnings per share (EPS) of $1.58, slightly exceeding analysts' expectations.

AlTi Global Inc. reduced its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,094 shares of the semiconductor manufacturer's stock after selling 870 shares during the period. AlTi Global Inc.'s holdings in Broadcom were worth $3,866,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Waddell & Associates LLC grew its stake in shares of Broadcom by 2.1% during the first quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer's stock worth $350,000 after buying an additional 43 shares during the last quarter. True Wealth Design LLC grew its stake in shares of Broadcom by 7.2% during the fourth quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock worth $165,000 after buying an additional 48 shares during the last quarter. Wescott Financial Advisory Group LLC grew its stake in shares of Broadcom by 3.8% during the first quarter. Wescott Financial Advisory Group LLC now owns 1,326 shares of the semiconductor manufacturer's stock worth $222,000 after buying an additional 48 shares during the last quarter. Martingale Asset Management L P grew its stake in shares of Broadcom by 1.3% during the first quarter. Martingale Asset Management L P now owns 3,876 shares of the semiconductor manufacturer's stock worth $649,000 after buying an additional 48 shares during the last quarter. Finally, Monterey Private Wealth Inc. grew its stake in shares of Broadcom by 1.8% during the first quarter. Monterey Private Wealth Inc. now owns 2,780 shares of the semiconductor manufacturer's stock worth $465,000 after buying an additional 48 shares during the last quarter. Institutional investors own 76.43% of the company's stock.

Broadcom Stock Up 9.4%

Shares of NASDAQ AVGO traded up $28.79 during trading on Friday, hitting $334.89. 78,318,626 shares of the company traded hands, compared to its average volume of 17,635,120. The business's fifty day moving average is $292.09 and its 200 day moving average is $237.25. Broadcom Inc. has a fifty-two week low of $134.90 and a fifty-two week high of $356.34. The firm has a market capitalization of $1.58 trillion, a price-to-earnings ratio of 85.43, a P/E/G ratio of 2.17 and a beta of 1.16. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, beating 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 quarter in the prior year, the business earned $1.24 earnings per share. The business's quarterly revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. Equities research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

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

Insider Activity

In related news, CFO Kirsten M. Spears sold 56,310 shares of the company's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $251.75, for a total value of $14,176,042.50. Following the sale, the chief financial officer owned 361,937 shares in the company, valued at $91,117,639.75. This represents a 13.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mark David Brazeal sold 50,000 shares of the company's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $253.28, for a total transaction of $12,664,000.00. Following the completion of the sale, the insider owned 415,956 shares in the company, valued at $105,353,335.68. This represents a 10.73% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 830,516 shares of company stock valued at $217,286,457. Corporate insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Oppenheimer reissued an "outperform" rating and issued a $360.00 price objective (up previously from $325.00) on shares of Broadcom in a research note on Friday. Barclays boosted their price objective on shares of Broadcom from $265.00 to $400.00 and gave the stock an "overweight" rating in a research note on Friday. Redburn Atlantic assumed coverage on shares of Broadcom in a research note on Wednesday, May 28th. They issued a "buy" rating and a $301.00 price objective on the stock. Evercore ISI reissued an "outperform" rating and issued a $342.00 price objective (up previously from $304.00) on shares of Broadcom in a research note on Thursday. Finally, KeyCorp boosted their price objective on shares of Broadcom from $330.00 to $400.00 and gave the stock an "overweight" rating in a research note on Friday. 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 company. According to MarketBeat, Broadcom currently has an average rating of "Buy" and a consensus target price of $351.00.

Broadcom 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.